AppTech Payments Q2 revenue rises for third straight quarter

Overview

• Fintech firm's Q2 revenue rose for third straight quarter, reaching $1.7 mln

• Company's operating and net losses narrowed from both prior quarter and year-ago period

• Revenue growth achieved despite loss of most BAAS revenue due to banking partner disruption

Outlook

• Company did not provide specific financial guidance for future quarters or the full year in its press release

Result Drivers

• BAAS REVENUE LOSS - Co said revenue grew despite loss of most BAAS revenue due to business flow disruptions with principal banking partner

• BANKING PARTNER RELATIONSHIP - Co said working relationship with principal banking partner has improved and efforts to reestablish BAAS revenue are ongoing

Company press release: ID:nGNX6YZYrn

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)