Investor Conference Call Scheduled to Discuss
Upcoming Fourth Quarter and Full Year 2023 Financial
Results
TORONTO, Feb. 15,
2024 /PRNewswire/ - Payfare Inc.
("Payfare" or the "Company") (TSX: PAY) (OTCQX:
PYFRF), a leading fintech powering instant payout and digital
banking solutions for the gig workforce, today announced it had
over 1,400,000 active users1 as at December 31, 2023, an increase of approximately
16% compared to active users as at September
30, 2023, and 33% compared to active users as at
December 31, 2022.
"We achieved our best ever quarterly active user growth in the
fourth quarter of 2023" said Marco
Margiotta, CEO and Founding Partner of Payfare. "We look
forward to announcing our financial results for the fourth quarter
and sharing our growth outlook for the year ahead."
Payfare will be hosting a conference call on Thursday, March 21, 2024, at 6:30 P.M. ET to discuss the Company's fourth
quarter and full year ended 2023 financial results. The complete
financial results are expected to be released after market close on
the same day. A short presentation in connection with the
conference call will be made available ahead of time on the
Company's website at https://corp.payfare.com/investors/.
Management will also host a live question and answer session on the
conference call with analysts.
To access the conference call, please dial (289) 514-5100 or 1
(800) 717-1738. Please call the conference telephone number 10-15
minutes prior to the start time so that you are in the queue for an
operator to assist in registering and patching you through.
An archived recording of the conference call will be available
until April 21, 2024. To listen to
the recording, call (416) 764-8692 or 1 (877) 674-7070 and enter
passcode 10007.
About Payfare (TSX:PAY, OTCQX: PYFRF)
Payfare is a global financial technology company powering
digital banking and instant payment solutions for today's gig
workforce. Payfare partners with leading platforms and
marketplaces, such as Uber, Lyft and DoorDash to provide financial
health for their workforce.
For further information please visit www.payfare.com
1Non-IFRS and Supplementary Financial
Measures
This press release contains references to "active users" which
is not a measure prescribed by International Financial Reporting
Standards (IFRS). This supplementary financial measure is
provided as additional information to complement IFRS measures by
providing a further understanding of our results of operations from
management's perspective, to provide investors and security
analysts with supplemental measures to evaluate the financial
performance of the Company and highlight trends in our core
business that may not otherwise be apparent when relying solely on
IFRS financial measures. Management also uses non-IFRS and
supplementary financial measures to facilitate operating
performance comparisons from period to period, prepare annual
operating budgets and strategic business plans and to evaluate and
price potential acquisitions. Accordingly, non-IFRS and
supplementary financial measures should not be considered in
isolation or as a substitute for analysis of our financial
information reported under IFRS. Such measures do not have any
standardized meaning prescribed by IFRS and, therefore, may not be
comparable to similar measures presented by other corporations. The
non-IFRS and supplementary financial measures are not subject to
standard industry definition and our definitions and method of
calculation may differ from other issuers and therefore may not be
comparable to similar measures presented by other issuers.
The Company determines the number of users to its services based
on active users. "Active users" represent users who have loaded
earnings on their card in the period. Additional information on
this measure may be found under the heading "Definitions – IFRS,
Additional GAAP and Non-GAAP Measures" in the Interim MD&A for
the three and nine months ended September
30, 2023 and 2022 which is available under Payfare's profile
on SEDAR at www.sedarplus.ca and is incorporated by reference to
this press release.
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SOURCE Payfare