Record Adjusted EBITDA
POSaBIT achieved its first nearly $1 million adjusted EBITDA quarter, marking a significant milestone in the company's history.
Improved Gross Profit Margin
The company reported an 87% adjusted gross profit margin, up from 77% in Q2, demonstrating improved profitability.
Growth in SaaS Revenue
Recurring SaaS revenues increased 22% in Q3 compared to Q2, highlighting the successful focus on growing the point-of-sale and e-commerce menu business.
Cash Growth and Debt Reduction
Cash on hand increased by nearly $0.5 million over the quarter, with a significant reduction in accounts payable by 41% or $400,000, strengthening the financial position.
Continued Market Expansion
POSaBIT expanded its presence with steady growth in Oregon, New Mexico, and new markets on the East Coast.