Business
Business Warrior Corporation (BZWR) Announces Quarterly Results with Focus on Growth and Innovation
Business Warrior Corporation (BZWR) Announces Quarterly Results with Focus on Growth and Innovation.
About this update from Business Warrior Corporation
[{"type":"text","content":"\n PHOENIX, May 04, 2023 (GLOBE NEWSWIRE) -- Business Warrior Corporation (OTC: BZWR), the cloud-based lending platform for success and long-term business growth, has released its financial results for the quarter ending February 28, 2023. The company has successfully transitioned its business and is operating in its new, enhanced business model focused on sustainable growth and more monthly recurring revenue. This quarterly report shows the baseline of financials for the new business model, which is more sustainable and has less inherent risk compared to the same time last year. For the three months ending February 28, 2023, its revenue of $877,281 showed a 19% increase compared to the same period last year and a 31% decrease in operating expenses. Most importantly, Business Warrior did not have any singular customer represent over 15% of total revenue compared to the same period last year, where one customer represented over 95% of revenue. The company is signing new clients on its new flagship product, PayPlan, and expects consistent monthly recurring revenue growth for PayPlan each period going forward. Although Business Warrior's revenue was higher last year, its previous business model had a much lower revenue ceiling and was unpredictable over long periods of time, due to the non-recurring nature of its revenue projects. The company's new monthly recurring revenue model has a lower profit margin in the beginning as it transitions its client base and acquires new customers, but it is a faster path to profitability and consistent revenue growth year over year. \"Our focus on monthly recurring revenue allows us to create long-term relationships with our clients and provides us with a more predictable revenue stream,\" said Rhett Doolittle, CEO of Business Warrior Corporation. \"This shift to a sustainable business model is an important step for the company.\" In the latest financial update, Business Warrior reported a 41% decrease in revenue compared to the previous quarter, with a net loss of $2.5 million. This figure takes into account a contingent settlement cost of $2.5 million owed to a partner in March 2024, with the current value of the $3 million liability adjusted for discounting. The company is proactively seeking strategies to support the partner in achieving the related revenue target, as well as exploring potent...