Business
Business Warrior Announces 2022 Financial Results
Business Warrior Announces 2022 Financial Results.
About this update from Business Warrior Corporation
[{"type":"text","content":"\n Twelve-month pro forma revenues for all three entities were $6.5 million for the fiscal year ending August 31, 2022Total revenue was $3,710,370 for the fiscal year ending August 31, 2022Net loss was $7,591,250 inclusive of a $4 million non-cash goodwill impairment charge associated with the Helix and Alchemy Technologies acquisitions PHOENIX, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Business Warrior Corporation (OTCQB: BZWR), the cloud-based lending platform for success and long-term growth for businesses, announced today it has completed its audited financials for the fiscal year ending August 31, 2022. The company's total revenue was $3,710,370 for the fiscal year ending August 31, 2022. The twelve-month pro forma revenues for all three entities were $6.5 million for the fiscal year ending August 31, 2022. Net loss was $7.5 million inclusive of a $4 million non-cash goodwill impairment charge associated with the Helix and Alchemy Technologies acquisitions. Business Warrior is seeking a reduction in the purchase price for Alchemy. The company leveraged its fiscal 2020 financial growth to improve long-term stability by making two strategic acquisitions, Helix, a marketing services company, and Alchemy Technologies, a lending software company. The Company’s focus was to create products and services that drive net new revenue that is monthly recurring and produces long-term profits. This focus to establish a more predictable monthly recurring model resulted in a short-term revenue decline year-over-year. The company remains confident that its investments in operations and personnel have resulted in streamlined operations, reduced expenses, and a more efficient team moving forward. The integration work is complete, and the combined organization has developed its new flagship product, PayPlan. PayPlan, a next-generation lending platform, combines over 50 solutions the company has built for other organizations, with features the market has been demanding. The product can be up and running for a new client in 30 days, at a fraction of the cost compared to the competition, and is being implemented for new clients. Business Warrior has reworked contracts with existing clients, leading to the profitable growth of the Alchemy division. The Helix House division is stable and projects steady growth in 2023. Business Warrior Corporation ex...