Investor Conference Call Scheduled to Discuss
Upcoming Third Quarter 2022 Financial Results
TORONTO, Oct. 19,
2022 /PRNewswire/ - Payfare Inc.
("Payfare" or the "Company") (TSX: PAY),
a leading fintech powering instant payout and digital banking
solutions for the gig workforce, today announced it had over
920,000 active users1 as of September 30, 2022, an increase of approximately
155% compared to active users as at September 30, 2021.
"We continue to break new records of activity levels, despite
the impact of seasonality on food delivery orders in the Summer
months," said Marco Margiotta, CEO
and Founding Partner of Payfare. "We look forward to announcing our
financial results for the third quarter and sharing more on recent
program enhancements to support the financial growth of our
cardholders."
Payfare will be hosting a conference call on Thursday, November 10, 2022, at 8:30 a.m. ET to discuss the Company's financial
results for the third quarter of 2022. The complete financial
results are expected to be released after market close on
Wednesday, November 9, 2022. 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 (416) 764-8658 or
1-888-886-7786. 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 December 10, 2022. To listen to
the recording, call (416) 764-8692 or 1-877-674-7070 and enter
passcode 019715.
About Payfare
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.
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 MD&A for the
three and six months ended June 30,
2022 and 2021 which is available under Payfare's profile on
SEDAR at www.sedar.com and is incorporated by reference to this
press release.
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SOURCE Payfare