POSaBIT Systems Reports Narrowed Net Loss and Improved Gross Margins in Q3
POSaBIT Systems (POSAF) reported its third-quarter financial results, highlighting a significant reduction in net loss to $118,000, compared to a loss of $596,000 in the same period last year. While total revenue saw a slight year-over-year decline of 2%, reaching $2.31 million, the company demonstrated improved operational efficiency. Gross profit rose by 5% year-over-year to $2.02 million, driving gross margin expansion from 81% to 87%. Additionally, the company reported an Adjusted EBITDA (Non-IFRS) of $639,000, signaling a trend toward improved profitability despite the marginal dip in top-line revenue.
Topics: EBITDA gross margin net loss revenue