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ShiftPixy Reports Third Quarter Financial Results
Jul. 22, 2019 08:37AM PST
Fintech InvestingShiftPixy (NASDAQ:PIXY), an employment platform that connect individuals with the gig economy announced its third quarter financial results for the quarter ending May 31, 2019. The company, founded in 2015, announced US$14.3 million in revenues for the quarter, rising at a 53 percent increase year-over-year. As quoted in the press release: 2019 Third Quarter Highlights …
ShiftPixy (NASDAQ:PIXY), an employment platform that connect individuals with the gig economy announced its third quarter financial results for the quarter ending May 31, 2019. The company, founded in 2015, announced US$14.3 million in revenues for the quarter, rising at a 53 percent increase year-over-year.
As quoted in the press release:
2019 Third Quarter Highlights
Gross billings grew 57% to $94.2 million, compared to $60.2 million for the fiscal 2018 third quarter; gross billings increased sequentially 14% from $82.5 million the prior quarter.
Revenues increased 53% to $14.3 million, compared to $9.4 million for the third quarter of fiscal 2018.
The average number of worksite employees increased by approximately 3,610 to 10,860, compared to 7,250 for the quarter ended May 31, 2018.
Gross profit was $2.7 million versus $1.5 million the prior year period, and diluted net loss per share was 15 cents versus a diluted net loss per share of 6 cents the prior year period.
Click here to read the full press release.
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