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NowVertical Group Reports Third Quarter 2021 Results and Other Recent Developments
NowVertical Group Reports Third Quarter 2021 Results and Other Recent Developments ...
About this update from Nowvertical Group Inc
[{"type":"text","content":"\n \n \n \n NowVertical Group Reports Third Quarter 2021 Results and Other Recent Developments\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Nov. 19, 2021\n \n /CNW/ - NowVertical Group Inc. (TSXV: NOW) (\"\n \n NOW\n \n \" or the\n \n \"Company\n \n \"), a global big data, Vertical Intelligence (VI) software and services company, is pleased to announce its financial results for the three and nine months ended\n \n September 30, 2021\n \n .\n \n \n \n \n \n \n \n \n \n \n Third Quarter 2021 Highlights\n \n \n \n \n Revenues and adjusted revenues for the three months ended\n \n September 30, 2021\n \n were\n \n $957,708\n \n , an increase of nearly 25% compared to pro forma revenues and pro forma adjusted revenues of\n \n $768,018\n \n for the three months ended\n \n September 30, 2020\n \n .\n \n \n Gross profit for the three months ended\n \n September 30, 2021\n \n was\n \n $801,903\n \n , an increase of nearly 16% compared to pro forma gross profit of\n \n $693,030\n \n for the three months ended\n \n September 30, 2020\n \n .\n \n \n On a full year pro forma basis, including the Company's recent acquisitions of 100% of the securities of Affinio Inc. (\"\n \n Affinio\n \n \") and substantially all of the assets of DocAuthority Ltd. (\"\n \n DocAuthority\n \n \") , NOW's acquisition strategy has grown revenues from zero to approximately\n \n $7.1 million\n \n for the last twelve months ended\n \n September 30, 2021\n \n .\n \n \n On\n \n October 1, 2021\n \n , the Company acquired substantially all of the assets of DocAuthority, an Israeli-based data governance software-as-a-service (SAAS) platform that helps companies save money and reduce risk by organizing, managing and protecting their data. DocAuthority was founded in 2013, and its customers use its software platform to automatically catalogue their data and documents to define the assets they have, what such assets contain, where they reside, and who has access to them, thus allowing customers to reduce risk and focus on doing more with their data...