26th October 2023 :ISX Financial EU Plc (“ISXPlc”) is pleased to present its Q3 Update for the year 2023.
The company is pleased to advise that it continues to showcase remarkable growth, solid profitability, ongoing innovation, and an expanding market presence.
Sustained Growth: Our revenues increased 11% YoY. This growth demonstrates our ability to capture new opportunities and expand our presence in the market. Furthermore, our Net Assets have surged by 64% year-on-year (12% QoQ).
Solid Profitability: We continue to maintain our profitability with an EBITDA margin of 24%. This solidifies our position as a thriving and financially robust fintech payments company.
Investing in the Future: We remain dedicated to innovation, having invested approximately €2 million in Research and Development year-to-date. These investments are driving our vision.
Innovation: Our commitment to innovation is evident in our latest product developments.flykk® has been significantly enhanced with a major new version to be launched in the coming days. Our flykk® linked Diners card has been certified for production and is (finally) in pre-rollout stage. We have also been granted further patents during this last quarter.
Expanding Market Presence: We continue to secure new customers and explore exciting segments in the market. For example, we have extended our PaidBy® bank transfers offering to a major marketplace, such that it is accessible by over 30,000 UK retail merchants.
2023 Guidance: We are well on track to reach our goal of achieving €30 million in revenue by the end of 2023 and maintain our EBITDA/profitability margin within 20-30%
ISX Financial CEO Nikogiannis Karantzis commented:
"We are excited to report another quarter of impressive growth and profitability. These results reflect our unwavering commitment to our customers, by delivering new services through innovation together with the ability to capitalise on opportunities through solving our customer’s problems."
ISX Financial's Q3 2023 results signify the company's dedication to delivering innovative financial solutions and its continued success in expanding its market presence.
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Group operating subsidiaries include ISX Financial UK Ltd, ISX Financial EU PLC (CY), Probanx Solutions Ltd (CY) & UAB Probanx Solutions (LT), UAB Authenticator (LT), ISX Technologies Inc (USA). ISX Financial UK Ltd, trading as Flykk, ISX Money and ISXPay, is a FCA UK Authorised eMoney Institution FRN 901034. ISX Financial EU PLC, trading as Flykk, ISX Money and ISXPay, is authorised by the Central Bank of Cyprus # 220.127.116.11 as an E.E.A Authorised eMoney Institution and UK FCA FRN 900871 .
℗ Patent applications pending/granted in Africa, Australia, Asia, The Americas, Europe and Oceania. ISX Financial®, ISXPay®, Probanx®, Flykk® & Paydentity™ are registered trademarks of ISX IP Ltd.