TORONTO (Dec 1) – XTM Inc., a fintech company specializing in innovative payment solutions, including Earned Wage Access (EWA) through its AnyDay™ platform, has reported significant growth in its third-quarter 2024 financial results. The company’s earnings, filed on SEDAR+, show a strong performance across key metrics, with notable revenue increases and operational milestones.

For the first three quarters of 2024, XTM reported a 29% year-over-year revenue increase, totaling $6.4 million compared to $4.9 million during the same period in 2023. In Q3 alone, revenue rose by 27%, reaching $2.4 million, up from $1.9 million in Q3 2023. The company’s platform Gross Dollar Value (GDV) also climbed by 23% year-over-year to $592 million, with Q3 contributing a record $215.6 million, a 21% increase over the same quarter last year.

The user base of XTM’s platform expanded by 9% compared to Q3 2023, reflecting growing adoption of its payment solutions. Additionally, the company managed to reduce its net loss for Q3 2024 to $4.2 million, down from $4.8 million in the same quarter the previous year. This improvement translated to a smaller net loss per share of $0.02, compared to $0.03 in Q3 2023.

Recent months have seen XTM make significant strategic moves to strengthen its market position. In October, Jakob Ripshtein was appointed as the company’s Chief Financial Officer. Ripshtein brings over 30 years of experience, including leadership roles at Diageo Canada and Diageo North America, where he helped shape corporate strategy and financial operations.

Also in October, the company launched its PayNow program in the United States, offering temporary workers a mobile app to access earnings and employee benefits while enabling cash loads at over 50,000 locations. In November, XTM entered into a referral partnership with KOHO Financial to expand financial services for its AnyDay™ platform members, further enhancing its value proposition for businesses and employees alike.

With strong financial results and strategic initiatives underway, XTM continues to solidify its role as a leading provider of fintech solutions, delivering innovative payment tools to industries like hospitality, personal care, and staffing.