Online deals firm Giftify's Q2 net loss narrows after higher agent transactions - GIFT News | RalliesOnline deals firm Giftify's Q2 net loss narrows after higher agent transactions
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GIFT• Outlook
- Company did not provide specific financial guidance for the current or future periods in press release
Overview
- US digital gift card platform's Q2 revenue rose 4% yr/yr
- Gross profit grew 14.2% with 180 bps margin expansion, driven by more agent transactions
- Q2 net loss narrowed by 52% to $1.2 mln, helped by lower costs and interest expense
Key details
| Metric | Actual | Consensus Estimate |
|---|
| Q2 Revenue | $21.70 mln | |
Result drivers
- Agent transactions - Higher proportion of agent transactions on CardCash platform expanded gross margin and contributed to gross profit growth
- Lower stock-based compensation - Decrease in stock-based compensation expense reduced operating costs and improved net loss
- Reduced interest expense - Lower interest expense from reduced debt balance contributed to narrower net loss
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