GINSMS Inc. (TSXV: GOK) (the “Corporation”) has announced its financial results for the third quarter ended September 30, 2024.

The complete financial results for GINSMS are available at www.sedar.com. Highlights include:

  • Revenue of $520,779 for the three-month period ended September 30, 2024 as compared of $772,312 for the three-month period ended September 30, 2023.
  • Gross Profit of $231,056 for the three-month period ended September 30, 2024 as compared to gross profit of $318,278 for the three-month period ended September 30, 2023.
  • Operating expenses and finance costs of $184,141 for the three-month period ended September 30, as compared to $330,304 for the three-month period ended September 30, 2023 .
  • Net profit of $40,948 for three-month period ended September 30, 2024 as compared to a net loss of $22,822 for three-month period ended September 30, 2023.

1. RESULTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024

Selected Profit and Loss Information

Financial Highlights Three-monthperiod ended September 30,2024(Unaudited)$ Three-monthperiod ended September 30,2023(Unaudited)$ Nine-monthperiod ended September 30,2024(Unaudited)$ Nine-monthperiod ended September 30,2023(Unaudited)$
Revenues $        
A2P Messaging Service 198,849   221,750   623,057   824,486  
Software Products & Services 321,930   550,562   1,423,217   1,608,855  
  520,779   772,312   2,046,274   2,433,341  
         
Cost of sales $        
A2P Messaging Service 84,536   149,254   285,805   571,143  
Software Products & Services 205,187   304,780   799,570   893,045  
  289,723   454,034   1,085,375   1,464,188  
         
Gross profit $        
A2P Messaging Service 114,313   72,496   337,252   253,343  
Software Products & Services 116,743   245,782   623,647   715,810  
  231,056   318,278   960,899   969,153  
         
Gross margin %        
A2P Messaging Service 57.5%   32.7%   54.1%   30.7%  
Software Products & Services 36.3%   44.6%   43.8%   44.5%  
  44.4%   41.2%   47.0%   39.8%  
         
Adjusted EBITDA(1)$ 70,601   12,115   318,651   225,726  
Adjusted EBITDA margin 13.6%   1.6%   15.6%   9.3%  
Net profit/(loss) $ 40,948   (22,822)   246,026   151,283  
Net profit/(loss) margin 7.9%   (3.0)%   12.0%   6.2%  
Net earnings/(loss) per share $                
Basic and Diluted(in Canadian cents) 0.022   (0.013)   0.131   0.080  
(1) Adjusted EBITDA is a non-IFRS measure which does not have any standardized meaning under IFRS. Adjusted EBITDA is related to cash earnings and is defined for these purposes as earnings before income taxes, depreciation and amortization (in both cost of sales and general and administration expenses), interest expenses, and also excludes certain non-recurring or non-cash expenditure and income. This non-IFRS measure is not recognized under IFRS and accordingly, shareholders are cautioned that this measure should not be construed as an alternative to net income determined in accordance with IFRS. The non-IFRS measure presented is unlikely to be comparable to similar measure presented by other issuers. The Corporation believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Corporation can use to fund working capital requirements, service interest and principal debt repayment and fund future growth initiatives.
   

About GINSMS

Certain information included in this press release may contain forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, ”could”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, or “continue” or the negative thereof or variations thereon or similar terminology. These statements are not historical facts, but reflect management’s current beliefs and are based on information currently available to management regarding future results and events. Particularly, these forward-looking statements are based on management’s estimate of future events based on technological advances relating to the Corporation’s services, current market conditions and past experiences of management in relation to how certain contracts will affect revenues. Forward-looking statements, by their very nature, involve significant risks, uncertainties and assumptions.

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to dependence on major customers, system failures, delays and other problems, increasing competition, security and privacy breaches, dependence on third-party software and equipment, adequacy of network reliance, network diversity and backup systems, loss of significant information, insurance coverage, capacity limits, rapid technology changes, market acceptance, decline in volume of attractions, retention of key members of the management team, success of expansion into Chinese and other Asian markets, credit risk, consolidation of existing customers, dependence on required licenses, economy and politics in countries where the Corporation operates, conflicts of interest and residency of directors and officers. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Although the forward-looking statements contained herein are based upon what management believes to be reasonable assumptions, the Corporation cannot assure the reader that actual results will be consistent with these forward-looking statements.

These forward-looking statements are made as of the date of this press release and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances except as may be required by law. Accordingly, readers should not place undue reliance on the forward-looking statements. All forward-looking statements contained in this press release are qualified by this cautionary statement.

For further information, please contact:

GINSMS Inc.Joel Chin, CEOTel: +65-6441-1029Email: investor.relations@ginsms.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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