FinTechFunding

Buddy Technologies: Records first earnings-positive quarter

  • Buddy Technologies (BUD) has revealed its first earnings-positive quarter despite the impact of COVID-19 restrictions and supply chain disruptions
  • Consolidated revenues were also higher in the quarter at $9.5 million compared to $7.9 million in the prior corresponding period
  • Buddy built momentum over the quarter, reporting a 30 per cent month-on-month increase in consolidated revenue for September to $2.6M
  • EBITDA for September was $510,000, a record for the company and much higher than the $514,000 loss recorded in the previous month
  • CEO David McLauchlan said the company’s results have particularly buoyed by strong demand for its LIFX and Buddy Ohm products
  • Shares closed 1.6 per cent lower, worth 6.2 cents
Previous article
EVE Investments: Increases revenue and cash balance in Q1 FY21
Next article
UniCredit: Run Tel Aviv bootcamp for female entrepreneurs
Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

You May Also Like

FinTech

Danske Bank Restricts Customer Data Access Following Address Leak

Danske Bank acts after sensitive customer details exposed to payment recipients.Highlights: Danske Bank reveals a data leak of...
FinTech

Fintech Veteran Launches Primitive AI Agent Operating System

A groundbreaking platform for AI-driven financial services is unveiled.Highlights: Primitive AI, led by a fintech veteran, introduces a...
FinTech

Visa Launches Validator Node on Tempo Blockchain, Strengthening Payments Infrastructure

New validator node aims to boost transaction efficiency for Visa services.Highlights: Visa launches a new validator node on...
FinTech

Amex Launches Agentic Commerce Development Kit to Strengthen Merchant Services

New toolkit aims to enhance payment solutions for businesses.Highlights: Amex unveils Agentic Commerce Development Kit for merchants.The toolkit...