Business
BeWhere Holdings Inc. Reports Third Quarter 2022 Results
Toronto, Ontario--(Newsfile Corp. - November 23, 2022) - BeWhere (TSXV: BEW) (OTCQB: BEWFF)...
About this update from Bewhere Holdings, Inc.
[{"type":"text","content":"BeWhere Holdings Inc. Reports Third Quarter 2022 ResultsToronto, Ontario--(Newsfile Corp. - November 23, 2022) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) (\"BeWhere\" or the \"Company\"), a Mobile Internet of Things (M-IoT) company is pleased to announce its financial results for three and nine months ended September 30, 2022.Owen Moore, CEO and Co-Founder stated, \"Key performance indicators improved across the board, with Recurring revenue growth of 41% year over year in the third quarter, resulting in record income of $216,771\". Chris Panczuk, COO and Co-Founder stated, \"We are pleased with the results as the company recorded highest ever quarterly Gross profit\". He further noted \"The Company improved cash position during the nine months, by $681,808 to $3,240,481\".Third Quarter 2022 HighlightsTotal Revenue increased by 9% year over year - Total Revenue for the three months ended September 30, 2022, was $2,648,541 compared to $2,421,851 for the same period in 2021: an increase of $226,690. Recurring Revenue increased by 41% year over year - Recurring Revenue for the three months ended September 30, 2022, was $1,044,624 compared to $739,663 for the same period in 2021: an increase of $304,961.Gross Profit increased by 84% year over year - Gross profit for the three months ended September 30, 2022, was $997,221 compared to $542,035 for the same period in 2021: an improvement of $455,186.Net operating income increased by 49% year over year - The Company recorded net operating income for the three months ended September 30, 2022, of $216,771 compared to $145,132 for the same period in 2021: an increase of $71,639. Three months ended September 30  Nine months ended September 30  20222021  20222021  Total Revenue2,648,5412,421,851  7,742,8126,431,110  Gross profit997,221542,035  2,612,8191,585,051  Net profit 216,771145,132  387,465239,316  EPS - basic0.000.00  0.000.00   About BeWhereBeWhere (TSXV: BEW) (OTCQB: BEWFF) is a Mobile Internet of Things (\"M-IoT\") solutions company that designs and sells self-powered hardware with sensors and software applications. Our solutions serve two main markets: (1) Asset Tracking, consisting of remote location tracking various non-powered fixed and movable assets such as ...