TORONTO, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce its financial results for the three months ended June 30, 2025. The Company reported continued revenue growth in the second quarter of 2025, up 248% from Q2 2024, while cost of revenues were up only 60% during the same time period, maintaining the Company’s high operating leverage. Seco ...

Core Insights - Clip Money Inc. reported a significant revenue growth of 225% year-over-year for Q1 2025, reaching $972,706 compared to $299,176 in Q1 2024, while costs of revenue increased by only 35% during the same period, indicating strong operating leverage [1][5]. Financial Performance - Q1 2025 revenue was $972,706, a 225% increase from Q1 2024, but down 16% quarter-over-quarter due to seasonal factors [5]. - Costs of revenue for Q1 2025 were $1,009,557, up 35% year-over-year, reflecting a much lower increase compared to revenue growth [5]. - Operating expenses rose by 9% year-over-year to $1,832,196, and net loss improved by 5% year-over-year to $2,280,281 [5]. Customer and Network Expansion - The company added 29 new shopping center locations, bringing the total to 473 ClipDrop deposit units [5]. - A partnership with Green Dot will expand the network by adding over 4,000 over-the-counter deposit locations, enhancing the scale and convenience of the Clip Network [4][5]. Product Development - Revenue from new products, including Change Orders and implementation fees, accounted for 22% of total revenue in Q1 2025, up from 9% in Q1 2024 [5]. - The company experienced a 153% increase in new deposit users and a 10% increase in average monthly deposit revenue per user [5]. Strategic Initiatives - The company is focused on expanding its U.S. business deposit network, aiming to build the largest and most convenient business deposit network in the U.S. [5]. - The board approved the grant of 965,000 restricted share units and 27,500 options to recognize performance in 2024, with vesting schedules outlined [6][7].