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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 …

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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