Reklaim Ltd. Reports Strong Q1 2024 Results: Higher Margins and Increased Cash Flow
Rekaim achieves consistent first-quarter revenue along with improved gross margins and cash flow
Key Highlights from
- Gross margins improved to 82%, up from 71% in Q1 2023.
- Positive cash flow from operations of
$463,645 , an increase of$595,814 over Q1 2023. - The company's cash position rose to
$554,618 as ofMarch 31, 2024 , compared to$57,806 onMarch 31 , 2023..
The company has seen substantial growth in its "Deals" revenue stream, highlighting a strategic evolution in its business model where
Improved gross margins are a testament to
Founder & CEO
Full financial results, reported in CAD dollars, and Management's Discussion and Analysis are posted to SEDAR (www.sedar.com) and on the Company's investor relations website: investors.reklaimyours.com.
The Company is pleased to announce the appointment of
About
Other Corporation Updates
Neither the
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects," and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the closing of the Debt Settlement and TSXV approval of the Debt Settlement, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions in preparing forward-looking information may prove incorrect. Events or circumstances may cause actual results to differ materially from those predicted due to numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Although considered reasonable by management during preparation, such information may prove incorrect, and actual results may differ materially from those anticipated. This cautionary statement expressly qualifies forward-looking statements contained in this news release. The forward-looking statements in this news release are made as of the date of this news release. The Company will only update or revise any included forward-looking statements as expressly required by Canadian securities law.
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