Payfare, Inc. (TSE:PAY) has released an update.
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Payfare, Inc., a leading Earned Wage Access company, reported a substantial increase in Q1 2024 financials with net income rising to $5.1 million and adjusted net income per share hitting $0.15, a notable growth from the previous year. Revenue soared to a record $51.9 million, a 23% jump compared to Q1 2023, and the company’s active user base grew by 26%. These results reflect Payfare’s continued expansion and success, particularly after the launch of the Uber Pro Card in partnership with Uber in Canada.
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