Givex Announces 3rd Quarter 2022 Financial Results.

TORONTO: Givex Information Technology Group Limited ("Givex") (TSX: GIVX) (OTCQX: GIVXF), is pleased to present its financial results for the three-month period and the nine-month period ending September 30, 2022.

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

"Our third-quarter results illustrate our continued growth, both in revenue and customer locations. Revenue grew 26% this quarter to $18.4 million, and our location count now exceeds 118,000," said Don Gray, CEO of Givex. "POS Gross Transactional Value for the nine months also increased by 83% to $960 million, which highlights our continued gains in the POS space. This quarter, we signed agreements with major multi-unit merchants and expanded the depth of our relationships with existing clients. As we enter the last quarter of our first full year as a public company we are faced with the same challenges as others in the tech sector as it pertains to general stock market conditions. However, I am confident that our strategy is sound and the Givex team will continue to focus on growth with positive EBITDA and cashflow."

Third Quarter Financial Highlights

Three-month period ending September 30, 2022 (with comparisons relative to the three-month period ending September 30, 2021)

Revenue increased $3.8 million from $14.6 million to $18.4 million, 26% growth. Adjusted EBITDA* was $1.0 million in 2022 compared to $2.7 million in 2021. (However, 2021 includes $0.3 million received for the Canadian Government's COVID-19 wage subsidy). Total Gross Transactional Value** increased approximately $0.21 billion or 19%, from $1.13 billion in Q3 2021 to $1.34 billion in Q3 2022.

POS Gross Transactional Value*** increased approximately $131 million or 53%, from $246 million in Q3 2021 to $377 million in Q3 2022.

Customer Locations**** increased approximately 22,000 or 23%, from 96,000 in Q3 2021 to 118,000 in Q3 2022.

Nine-month period ending September 30, 2022 (with comparisons relative to the nine-month period ending September 30, 2021)

Revenue increased $11.6 million from $40.0 million to $51.6 million, 29% growth.

Adjusted EBITDA was $3.3 million in 2022 compared to $5.8 million in 2021. (However, 2021 includes $0.8 million received for the Canadian Government's COVID-19 wage subsidy).

Cashflows***** provided by operating activities were a positive $2.1 million.

Total Gross...