XTM reports in Canadian dollars and in accordance with International Financial Reporting Standards ("IFRS")

XTM Inc. (“XTM” or the “Company”) (CSE: PAID / FSE: 7XT), a fintech company specializing in innovative payment solutions including Earned Wage Access (EWA) through its AnyDay™ platform, has filed its financial statements for the third quarter of 2024. The results demonstrate strong growth, including a 29% year-over-year (YoY) increase in revenue for the first nine months of 2024.

This summary provides an overview of XTM's financial performance for Q3 2024, showcasing its growth in key metrics, ongoing strategic initiatives, and recent developments that aim to strengthen its position in the fintech space.

XTM’s full financial position and results of operations is provided in the Financial Statements and a discussion of those results can be found in the Company’s MD&A filed on SEDAR+.

Financial Highlights for Q3 2024:

  • Gross Dollar Value (GDV): XTM’s platform GDV increased by 23% year-over-year, reaching $592 million for the first three quarters of 2024. GDV in Q3 alone hit a record $215.6 million, marking a 21% increase over Q3 2023.
  • Active Users: The number of active users on the XTM platform grew by 9% in Q3 2024 compared to the same quarter in the previous year.
  • Revenue Growth: Revenue for Q3 2024 increased by 27% to $2.4 million, compared to $1.9 million in Q3 2023. For the first nine months of 2024, revenue totaled $6.4 million, a 29% increase from $4.9 million in the same period in 2023.
  • Net Loss: XTM’s net and comprehensive loss decreased by $0.6 million to $4.2 million in Q3 2024, compared to a loss of $4.8 million in Q3 2023.
  • Net Loss per Share: The net loss per fully diluted share was $0.02 in Q3 2024, compared to $0.03 for the same period last year.

Recent Developments and Key Events:

  • CFO Appointment: On October 3, 2024, XTM appointed Jakob Ripshtein as the Company’s Chief Financial Officer ("CFO"). Mr. Ripshtein brings more than 30 years of experience leading finance, corporate strategy, marketing, and sales and has a deep understanding of diversified industries. As President of Diageo Canada followed by CFO of Diageo North America, Jakob was charged with providing the financial and strategic leadership to deliver the Diageo North America Financial performance NSV and trading profit commitments to the company, directly contributing to and shaping the business strategy, as well as managing a complex governance and compliance agenda.
  • PayNow Program Launch: On October 16, 2024, XTM launched its PayNow program, providing temporary workers in the U.S. with a simple mobile app to receive earnings, load cash at over 50,000 locations, and access employee benefits.
  • Convertible Debenture Offering: On October 24, 2024, XTM announced a private placement offering of convertible debentures, seeking up to C$7 million in funding.
  • Partnership with KOHO Financial: On November 14, 2024, XTM entered into an exclusive referral agreement with KOHO Financial Inc. to offer enhanced financial services to the more than 100,000 members of XTM’s AnyDay™ platform.

About XTM Inc.

XTM is a leading fintech company that provides innovative payment solutions, including Earned Wage Access (EWA), to businesses in the hospitality, personal care, and staffing industries. Its flagship product, AnyDay™, allows employees to access their earned wages on-demand. XTM’s fully owned subsidiary, QRails, offers a cloud-based payment platform that powers on-demand pay for workers and payroll providers globally.

For more information about XTM, visit xtminc.com

Disclaimer for Forward Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”), within the meaning of applicable Canadian securities legislation, including statements regarding the issuance of the FFCTO, the contents of these orders, the Company’s ability to file the Required Documents, the completion of the required steps in respect of the audit of the Required Documents related to the annual financial period ending December 31, 2023, the subsequent revocation of the Cease Trade Order, the appointment of a new CFO and directors of the Company, and management’s plans regarding its businesses. It is possible that the Required Documents may not be filed, or that even if the Required Documents are filed that the Cease Trade Order may never be revoked by the OSC or other regulators. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as “expect,” “plan,” “anticipate,” “project,” “target,” “potential,” “schedule,” “forecast,” “budget,” “estimate,” “intend” or “believe” and similar expressions or their negative connotations, or that events or conditions “will,” “would,” “may,” “could,” “should” or “might” occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.

While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update or alter any forward-looking statements except as required under applicable securities laws. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.

The CSE has not approved nor disapproved the contents of this press release, and the CSE does not accept responsibility for the adequacy or accuracy of this release.

For more information please contact: Jakob Ripshtein finance@xtminc.com 416.260.1641

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