Clip Money Inc. Reports Second Quarter 2025 Results
TORONTO, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSXV: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.
Second Quarter Financial 2025 Highlights:
Revenue for the second quarter of 2025 ("Q2 2025") was $1,349,587, compared to $387,955 in the second quarter of 2024 ("Q2 2024"), which equates to 248% growth year-over-year ("YoY"). Q2 2025 revenue was up 39% quarter-over-quarter ("QoQ") compared to the first quarter of 2025 ("Q1 2025"), which was a function of new sales growth, one-time implementation fees and growth of new products. Excluding the impact of seasonality, revenue grew 31% QoQ.
Revenue growth continues to outpace changes in Costs of Revenue ("CoR"). Q2 2025 CoR of $1,147,057 was up 60% YoY, relative to 248% YoY revenue growth.
YoY revenue growth for Q2 2025 was driven by a 169% increase in new deposit users, and supported by contributions from new products, namely revenue from change orders and implementation fees. Revenue from new products, excluding non-recurring items, accounted for 13% of total revenue in Q2 2025 and 7% in Q2 2024.
Operating expenses for Q2 2025 were $1,719,300 compared to $1,713,968 in Q2 2024, which represents a 1% YoY increase. Q2 2025 operating expenses were 6% lower QoQ compared to Q1 2025. Comprehensive loss for Q2 2025 was $2,427,185, compared to $2,548,297 in Q2 2024, which represents an improvement of 5% YoY.
On July 18, 2025, the Company closed (i) a non-brokered private placement of an unsecured convertible note for aggregate gross proceeds of US$3,000,000 from Cardtronics Inc., a subsidiary of NCR Atleos Corporation and (ii) a non-brokered private placement of 6,876,500 common shares ("Common Shares") at a price of CAD$0.20 per Common Share for gross proceeds of US$1,000,000.
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