Giftify Q3 net sales rise on higher marketplace activity
GIFT•Giftify’s third-quarter net sales rose 19% year over year to $22.30 million. Its net loss and modified EBITDA loss narrowed from a year earlier.
1. Quarterly results
Giftify said third-quarter net sales increased 19% year over year to $22.30 million, while its net loss and modified EBITDA loss narrowed. The company attributed gross billings growth to higher customer transaction volume and said changes in the mix of agent and principal transactions drove net sales growth.
2. Company outlook
Giftify said its transition to a Restaurant.com membership model aims to create a recurring revenue opportunity. It remains focused on converting top-line growth into sustained profitability improvement.
