POSaBIT Hits Record Revenue Of $10M In Q3, Enters New York Market

POSaBIT Systems Corporation POSAF PBIT, announced record revenue of at least $10.0 million in Q3 2022 as compared to revenue of $6.3 million in Q3 2021, representing an approximately 60% increase year-over-year. The company expects to announce complete results for the third quarter of 2022 by the end of November.

POSaBIT also announced their imminent entry into the New York market, the twenty-first active state for the company and their fifth new state entered in 2022.

“We are kicking off the fourth quarter with two tremendously exciting announcements,” stated Ryan Hamlin, co-founder and CEO of POSaBIT. “Another record-breaking revenue quarter is in the books and we cannot wait to release our full earnings to investors next month. On top of that, our mission of eastward expansion continues with our entry into the state of New York, a major target market for us now that they are on the eve of recreational cannabis going live.”

POSaBIT’s 2022 goal of entering eight new states will soon be achieved, as the company has contracted merchants in four more states preparing to go live within the next two months.

Photo by Mackenzie Marco on Unsplash

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