POSaBIT Expects FY 2023 Revenue Of $60M To $63M, Positive Adjusted EBITDA

POSaBIT Systems Corporation POSAF PBIT a point-of-sale and payments provider for the cannabis industry, provided financial guidance for 2023.

2023 Financial Guidance

The company provided the following guidance for the full year 2023.

  • Total revenue of $60 to $63 million.

  • Gross profit of $15 to $17 million.

  • Positive adjusted EBITDA.

“Our business continues to grow at a high rate, significantly outpacing the growth rate of the cannabis market as a whole,” stated Ryan Hamlin, CEO and co-founder of POSaBIT. “2023 is off to a great start; our teams are highly engaged with merchants to optimize and fully integrate both our point-of-sale and payments platforms to increase same-store sales and improve efficiencies for the merchants and the customers they serve. We also look forward to closing our recently announced acquisition in the second quarter of 2023.”

The company expects to report financial results for the three and 12 months ended December 31, 2022 and host a conference call to discuss the results and FY 2023 Guidance on April 26, 2023.

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