- Hank Payments (HANK) has provided its fourth quarter financial and corporate update for the period ending June 30, 2022
- Revenue for the fourth quarter ended June 30, 2022, grew 27 per cent year over year to $1,479,074 on 90 per cent gross margins
- QoQ revenue grew 7 per cent
- Michael Hilmer, Chairperson and CEO of Hank Payments sat down with Daniella Atkinson to discuss the updates
- Hank is a Fintech software-as-a-service (SaaS) company that supports consumer budgeting and cash management automation
- Hank Payments Corp. (HANK) opened trading at C$0.105
Hank Payments (HANK) has provided its fourth quarter financial and corporate update for the period ending June 30, 2022.
Highlights:
- Revenue for the fourth quarter ended June 30, 2022, grew 27 per cent year over year to $1,479,074 on 90 per cent gross margins
- QoQ revenue grew 7 per cent as the company continues to benefit from the recovery in the auto industry
- $1,200,000 of annualized corporate overhead costs savings
- An existing channel partner had agreed to migrate a portfolio of approximately 600 mortgages onto the Hank Payment Platform representing growth of approximately US$110,000,000 in Hank’s Liabilities Under Management
- Hank also started executing on previously announced planned operating costs efficiencies amounting to savings of over $100,000 a month
Michael Hilmer, Chairperson and CEO of Hank Payments sat down with Daniella Atkinson to discuss the updates.
“We have made strategic decisions quickly to ensure we have the optimal operating footprint needed for the next phase in Hank’s strategic evolution, while remaining focused on the needs of customers and in support of our continued innovation plans. We as an organization are indeed fortunate that execution risks have been dramatically reduced given the maturity of our business and diversity of our product offering. Our target market is counter-correlated to the economy whereby challenging economic times result in even more cash stressed consumers requiring Hank’s product offering and thus increased interest from both consumers and potential enterprise licensors of the Hank Payment Platform. As a result, Hank is within striking distance of being cash flow positive and we expect to invest cash resources prudently and in a judicious manner to support the exciting growth opportunities that are being presented to us, literally daily.”
The company will report its fourth-quarter and annual audited financials at the end of September.
Hank is a Fintech software-as-a-service (SaaS) company that supports consumer budgeting and cash management automation.
Hank Payments Corp. (HANK) opened trading at C$0.105.