Author: David Jennings

GlobeNewswire — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) is pleased to announce its financial guidance for Q4 and FY 2021 and FY 2022. The Company’s fourth quarter growth was driven by the launch of its valuation technology lender platform and organic expansion through new offerings within its existing client base. Additionally, the Company continued its strategic integrations of acquired technologies and data to drive growth. For Q4 2021, revenue is expected to be in the range of $34M-$39M, and for FY 2021, revenue is expected to be in the range of $92M-$97M.

The anticipated FY 2021 revenue represents a year-over-year increase of 349% compared to FY 2020, and anticipated Q4 2021 revenue represents a year-over-year increase of 468% from Q4 2020 revenue, in each case when using the low end of the expected revenue range. Additionally, anticipated revenue for Q4 2021 represents a 38% increase over Q3 2021 revenue when using the low end of the expected revenue range.

For Q4 2021, gross margin is expected to be in the range of $12M-$14M, and for FY 2021, gross margin is expected to be in the range of $37M-$39M. The anticipated FY 2021 gross margin represents a year-over-year increase of 295% compared to FY 2020, and anticipated Q4 2021 gross margin represents a year-over-year increase of 353% from Q4 2020 gross margin, in each case when using the low end of the expected gross margin range. Anticipated gross margin for Q4 2021 represents a 28% increase over Q3 2021 gross margin when using the low end of the expected gross margin range.

FY 2022 Financial Guidance

As a result of an expected increase in revenue and efficiencies gained from investments made in 2021, the Company anticipates revenue for FY 2022 in the range of $170M-$190M. This expected revenue for FY 2022 represents a 85% year-over-year increase from the expected revenue for FY 2021, when using the low end of the expected revenue range.

The Company anticipates gross margin for FY 2022 in the range of $87M-$97M. This expected gross margin for FY 2022 represents a 136% year-over-year increase from the expected gross margin for FY 2021, when using the low end of the expected gross margin range.

Voxtur’s ability to reach the high end of its projected revenue and gross margin ranges for FY 2022 and overall guidance provided above is driven by certain expectations and assumptions including, but not limited to, the successful integration and continued growth of investments made by the Company in FY 2021, the success of the Company’s new product offerings in valuation, title, and property tax, and those additional expectations and assumptions set forth in the “Forward-Looking Information” section below. The Company’s ability to reach the high end of its projected revenue and gross margin ranges for FY 2022 is further contingent on the combined impact of macroeconomic tailwinds and the execution of new revenue-generating initiatives. Voxtur continues to focus on revenue growth through new data-driven digital alternatives to traditional products in valuation, title, and property tax. Additionally, the Company expects to see organic growth from an increase in desktop appraisals as a result of recent announcements by Fannie Mae and Freddie Mac allowing use of such products, the expansion of its property tax analytics platform, and the launch of its real estate asset management platform. Additional benefits are expected to come from the continuing effects of the lifting of foreclosure moratoria in the U.S., which is expected to result in increased revenue from default management, and the federal government’s strong push for more affordable home ownership in the U.S., which should open the door for widespread adoption of Voxtur’s alternative valuation and title products. Finally, Voxtur expects significant revenue growth from new client business as a result of its investment in enterprise sales efforts.

“2021 was a transformational year for Voxtur, and we are delighted to provide guidance to the market on our Q4 and Year End 2021 performance,” said Jim Albertelli, CEO. “We remain focused on becoming the largest and most trusted provider of data-driven, SaaS-based applications, and tech-enabled services in the property technology space. 2022 promises to be another year of high growth for our business as we add key foundational pieces to scale and deliver profitable growth to our shareholders. Our primary business lines of valuation, title, and property tax are operating efficiently under one platform that is continuing to capture market share and positioned to further improve our SaaS-based applications. The opportunity in front of us is significant and we look forward to executing on our vision and achieving our objectives in 2022.”

The above guidance and ranges take into consideration management’s current outlook combined with the results of Q1, Q2, and Q3 for FY 2021 and are based on the assumptions set out herein. The purpose of the financial guidance is to assist investors, shareholders, and others in understanding management’s expectations for the Company’s financial performance for Q4 and FY 2021 and for FY 2022. The information may not be appropriate for other purposes. Information about guidance, including the various assumptions underlying it, is forward-looking and should be read in conjunction with the “Forward-Looking Information” section below and the related disclosure and information about various assumptions, factors, and risks that may cause actual future financial and operating results to differ from management’s current expectations.

Non-GAAP Measures
Adjusted EBITDA is a non-GAAP financial measure and does not have any standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures employed by other reporting issuers. Management believes Adjusted EBITDA provides meaningful information with respect to the financial performance and value of the Company, as items that may obscure the underlying trends in the business performance are excluded. Adjusted EBITDA is defined and calculated by the Company as earnings (loss) before interest, taxes, depreciation/amortization of property and equipment, intangible assets and right-of-use assets, share-based compensation expense, foreign exchange gains (losses) recorded through profit and loss, and other costs or income that are: (i) non-operating; (ii) non-recurring; and/or (iii) related to strategic initiatives. The Company classifies income or costs as non-recurring if income or costs similar in nature are not reasonably expected to occur within the next two years nor have occurred during the prior two years, and such costs are significant.

Voxtur Bolsters its SaaS Title Offerings with Acquisition of Benutech

GlobeNewswire — Toronto, Ontario and Tampa, Florida – December 30, 2021 — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that, further to the news releases issued on November 24, 2021 and December 21, 2021, it has completed the acquisition (“Acquisition”) of Benutech, Inc. (“Benutech”).

Benutech brings efficiency and profitability to real estate with innovative data solutions and an advanced technology platform. With one of the largest repositories of real-time property data in the United States, Benutech enables real estate professionals to access data from multiple public and private data sources through a subscription-based model.

“With the acquisition of Benutech, we continue to build our repository of Voxtur-validated data and innovative SaaS solutions,” said Voxtur CEO Jim Albertelli. “We are thrilled to join forces with the Benutech team, which will allow us to further enhance our technology platform, increase our recurring revenue, and continue Voxtur’s transition to a SaaS-based model.”

Total consideration for the Acquisition consisted of a cash payment in the amount of US$5 million, 10,239,757 common shares (“Common Shares”) in the capital of Voxtur (the “Share Component”), and up to 7,314,112 additional Common Shares, with the specific number of additional Common Shares to be determined in accordance with certain earn out terms set forth in the Agreement. A majority of the Share Component is subject to a contractual lock up with certain Benutech stockholders, with the locked-up shares scheduled to be released in equal installments each calendar quarter for a period of four years from the date of closing of the Acquisition.

The Acquisition constituted an “Expedited Acquisition” in accordance with TSX Venture Exchange Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets and remains subject to final approval by the TSX Venture Exchange. All references to currency in this release are reference to US dollars

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

GlobeNewswire — Toronto, Ontario and Tampa, Florida — December 22, 2021 — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a technology company creating a more transparent and accessible real estate lending ecosystem, today announced that, further to the news releases issued on December 13, 2021 and December 21, 2021, the Company, together with Cormark Securities Inc. and Eight Capital, as co-lead agents (together, the “Agents”), has closed its brokered private placement, issuing a total of 21,721,912 common shares (the “Common Shares”) at a price of $0.90 per Common Share (the “Offering Price”) for aggregate gross proceeds of $19,549,721 (the “Brokered Offering”).

Concurrently with the closing of the Brokered Offering, the Company closed its non-brokered private placement, issuing a total of 558,774 Common Shares at the Offering Price per Common Share for aggregate gross proceeds of $502,897 (the “Non-Brokered Offering” and together with the Brokered Offering, the “Offering”).

In connection with the Offering, the Company paid to the Agents a cash commission equal to 6% of the aggregate proceeds raised in the Brokered Offering and issued to the Agents a total of 651,657 broker warrants, each entitling the Agents to purchase one Common Share at the Offering Price for a period of two years from the closing. No finder’s fee was paid on the Non-Brokered Offering.

The net proceeds from the Offering are intended to be used for future acquisitions, working capital, and general corporate purposes.

The Common Shares issued pursuant to the Offering will be subject to a hold period expiring four months and one day from the date of issue. The Offering is subject to final approval from the TSX Venture Exchange.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless registered under the U.S. Securities Act and any applicable state securities laws or an exemption from such registration is available.

Voxtur upsizes previously announced brokered private placement, announces concurrent non-brokered private placement, and executes amendment to agreement to acquire Benutech

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO and TAMPA, Fla., Dec. 21, 2021 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company“), a technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that further to the news release issued on December 13, 2021, the Company, together with Cormark Securities Inc. and Eight Capital, as co-lead agents (together, the “Agents“), have agreed to increase the size of the previously announced private placement of common shares of the Company (the “Common Shares“) at a price of $0.90 per Common Share (the “Offering Price“) to aggregate gross proceeds of approximately $19.1 million (the “Brokered Offering“).

Concurrent with the Brokered Offering, the Company announces that it plans to complete a non-brokered private placement of Common Shares at the Offering Price per Common Share for proceeds of approximately $500,000 (the “Non-Brokered Offering” and together with the Brokered Offering, the “Offering“). No finder’s fee will be paid on the Non-Brokered Offering.

The Offering is expected to close on or about December 22, 2021. The net proceeds from the Offering are intended to be used for future acquisitions, working capital, and general corporate purposes. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange (the “TSXV“). The Common Shares issued pursuant to the Offering will be subject to a hold period expiring four months and one day from the date of issue.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States or to U.S. persons unless registered under the U.S. Securities Act and any applicable state securities laws or an exemption from such registration is available.

Amendment to Benutech Acquisition

The Company also announced that, further to the news release issued on November 24, 2021, it has signed an amendment (“Amendment“) to the agreement (“Agreement“) for the acquisition (“Acquisition”) of all the issued and outstanding stock of Benutech, Inc. (“Benutech”). Benutech is a preeminent source of innovative data solutions and technology applications for the title industry. Benutech enables real estate professionals, including lenders, investors, and real estate agents, to access property data from multiple public and private data sources through a subscription-based model.

Pursuant to the Amendment, the equity portion of the initial consideration for the Acquisition shall consist of 10,239,757 Common Shares, and the contingent portion of the consideration for the Acquisition shall consist of up to an additional 7,314,112 Common Shares, with the specific number of Common Shares to be determined in accordance with terms of the Agreement.

Completion of the Acquisition is subject to the receipt of all required regulatory, corporate, and third-party approvals, including the approval of the TSXV, and is expected to close in December 2021.

Voxtur achieves 402% year-over-year growth for Q3 2021

Q3 2021 Highlights

• Revenue was $24.7 million, representing a 37% increase over Q2 2021 and a 402% increase over Q3 2020
• Gross Margin was $9.5 million, representing a 15% increase over Q2 2021 and a 359% increase over Q3 2020
• 91% of Revenue for Q3 2021 was derived from U.S. Operations — up from 61% in Q3 2020
• Voxtur closed the acquisition of Xome Valuations in Q3 2021
• The Company ended Q3 2021 with cash and cash equivalents of $37.9 million

GLOBE NEWSWIRE — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a technology company creating a more transparent and accessible real estate lending ecosystem, announced today its Unaudited Condensed Interim Consolidated Financial Statements for the three and nine months ended September 30, 2021 and 2020, and the related Management’s Discussion and Analysis (“MD&A”), are available at www.sedar.com and on the Company’s website at www.voxtur.com/investors.

“Voxtur remains focused on becoming the largest and most trusted provider of data, SaaS-based applications, and tech-enabled services in the property technology space. We are delighted to report that our momentum continues and has translated into another strong quarter, with 37% quarter-over-quarter revenue growth achieved from Q2 to Q3 2021. Our team has built a solid foundation and established a focused strategic path for Voxtur’s transition to primarily a SaaS-based revenue model. I am confident in our ability to maintain our positive growth trajectory for the remainder of the year and into 2022,” stated Voxtur CEO, Jim Albertelli.

“We are very proud of our accomplishments in these last few quarters and remain dedicated to further delivering double digit revenue growth, improving our gross margins and increasing recurring revenue. Furthermore, we expect to see increased volumes in valuation, title and default services as a result of the foreclosure moratorium being lifted. Voxtur will continue to reinvest in the business and benefit from investments made in 2021. As a result, we anticipate positive EBITDA again starting in Q1 2022,” added Albertelli.

Financial Results for Q3 2021

• Revenue for Q3 2021 was $24.7 million, representing a 37% increase over Q2 2021 and a 402% increase over Q3 2020
• Revenue for the nine months ended September 30, 2021 was $57.2 million, which represents a 294% increase over nine months ended September 30, 2020
• Gross Margin was $9.5 million, representing a 15% increase over Q2 2021 and a 359% increase over Q3 2020
• Gross Margin for the nine months ended was $25 million which represents a 280% increase over the nine months ended 2020
• Revenue from US Operations represented approximately 91% of total revenue for Q3 2021 and 89% of total revenue for the nine months ended September 30, 2021, up from approximately 61% for Q3 2020 and 60% for the nine months ended September 30, 2020. This is a result of our continued expansion into U.S. markets following the Apex, Voxtur, Anow and Xome acquisitions.
• Cash and Cash Equivalents at the end of Q3 2021 was $37.9 million

Discussion with respect to the above-noted results can be found in the Company’s MD&A.

¹ Adjusted EBITDA is an unaudited non-GAAP measure and does not have any standardized meaning prescribed under IFRS and, therefore, may not be comparable to similar measures employed by other reporting issuers. Management believes Adjusted EBITDA provides meaningful information with respect to the financial performance and value of the Company, as items that may obscure the underlying trends in the business performance are excluded. Adjusted EBITDA is defined and calculated by the Company as earnings (loss) before interest, taxes, depreciation/amortization of property and equipment, intangible assets and right-of-use assets, share-based compensation expense, foreign exchange gains (losses) recorded through profit and loss, and other costs or income that are: (i) non-operating; (ii) non-recurring; and/or (iii) are related to strategic initiatives. The Company classifies income or costs as non-recurring if income or costs similar in nature are not reasonably expected to occur within the next two years nor have occurred during the prior two years, and such costs are significant.

Highlights

• The Company continued to execute on its strategic growth initiatives, announcing the strengthening of its cloud-based valuation management platform with the acquisition of Xome Services LLC and Xome Valuation Services LLC (collectively, “Xome Valuations”). Xome Valuations is a leading provider of valuation management products and services to clients in the residential real estate sector. Voxtur’s industry-leading technology solutions and workflow management platform combined with the brand strength and operational expertise of Xome Valuations reinforces the Company’s position as a leader in the real estate valuations space and accelerates its goal of becoming the most robust, authoritative source of property data in the U.S.
• The Company executed a membership interest purchase agreement for the acquisition of RealWealth Technologies LLC (“RealWealth“). RealWealth has developed a proprietary, consumer-centric digital real estate platform intended to change consumer behavior through the democratization of data, content, tools, and fiduciary support.

Subsequent Events Following Q3 2021:

• The Company announced it had closed the acquisition of RealWealth and would reposition the platform as VoxturWealth.

Earnings Call

At 8:30 a.m. Eastern Time on Tuesday, November 30, 2021, the Company will host a conference call featuring management’s remarks and a follow-up question and answer period with analysts. The conference call can be accessed live by dialing (888) 743-7963 five minutes prior to the scheduled start time. The Conference ID is 8478848.

A digital recording of the call will be available for one month (until 11:59 p.m. Eastern Time, December 30, 2021) by dialing (855) 859-2056 or (404) 537-3406 and using the Conference ID 8478848. Alternatively, the call recording can also be accessed on the Voxtur website’s Investors page.

Voxtur executes agreement to acquire Benutech, a leading source of innovative title data solutions and technology applications

GlobeNewswire — Nov. 24, 2021 — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that, further to the news release issued on June 09, 2021, it has signed an agreement (“Agreement”) for the acquisition (the “Acquisition”) of all of the issued and outstanding stock of Benutech, Inc. (“Benutech”). Benutech is a preeminent source of innovative data solutions and technology applications for the real estate industry. Benutech enables real estate professionals, including lenders, investors and real estate agents, to access property data from multiple public and private data sources through a subscription-based model.

“With this acquisition, the Company continues to amass a repository of validated data and intuitive SaaS tools designed to facilitate better control and utilization of data within real estate finance,” said Voxtur CEO Jim Albertelli. “This is another example of long overdue digitization that will benefit stakeholders throughout the lending lifecycle by making processes faster and more efficient.”

Benutech’s mission is to bring efficiency and profitability to real estate in the form of advanced data solutions delivered through an intuitive technology platform. Benutech has one of the largest repositories of real-time property data in the United States. Its primary applications, Title Toolbox and ReboGateway, allow for a more efficient and proactive approach by providing advanced warning of changing market conditions. Further, the cloud-based workflow allows users to expedite the underwriting process using prepopulated data in the reporting structure.

“Together, Voxtur and Benutech have an extraordinary opportunity to drive the closing process of the future,” said Benutech CEO Ryan Marshall. “With the added value and support of Voxtur’s technology solutions, Benutech’s ability to provide streamlined, data-driven solutions will be unrivaled.”

Consideration for the Acquisition will consist of up to US$17 million (the “Purchase Price”), with US$7 million of the Purchase Price to be satisfied by the issuance of common shares of Voxtur (the “Share Component”), US$5 million to be comprised of a cash payment, and up to US$5 million to be satisfied by the issuance of additional common shares of Voxtur, subject to certain earn out provisions set forth in the Agreement (the “Additional Share Component”). To determine the Share Component and Additional Share Component, the value of each share shall be calculated as the lesser of: (i) the volume weighted average closing price per share for the thirty (30) trading days prior to and ending on June 8, 2021 (the day immediately preceding the Company’s public announcement of the Acquisition), or (ii) the volume weighted average closing price per share for the thirty (30) trading days prior to and ending on the day immediately preceding the date of closing of the Acquisition. A majority of the Share Component will be subject to a contractual lock up with certain Benutech stockholders, with the locked-up shares being released in equal installments every calendar quarter following the closing of the Acquisition.

Completion of the Acquisition is subject to the receipt of all required regulatory, corporate and third-party approvals, including the approval of the TSX Venture Exchange (the “TSXV”), and is expected to close in the fourth quarter of 2021. The TSXV has in no way passed upon the merits of the Acquisition and has neither approved nor disapproved the contents of this press release. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

TORONTO and TAMPA, Fla. , Oct. 14, 2021 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company“), a technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that, further to the news release issued on September 28, 2021, it has completed the acquisition (“Acquisition”) of RealWealth Technologies LLC (“RealWealth”). With the Acquisition now complete, RealWealth will be repositioned as VoxturWealth.

RealWealth has developed a proprietary, investor-centric digital platform intended to change consumer behavior through the democratization of data, content, tools, and fiduciary support. From management of home service contracts and vendors to the prevention of financial elder abuse through an encrypted asset documentation repository, each aspect of the client’s real estate investment will be transparent and verified.  At every step, homeowners and their trusted advisors will be empowered by data driven tools to make better, more confident real estate decisions.

Total consideration for the Acquisition consisted of five million common shares in the capital of Voxtur (each, a “Common Share“) with an aggregate value of approximately $4,200,000. Three million Common Shares were issued upon the closing of the Acquisition and a further two million Common Shares will be held in escrow and released upon the achievement by RealWealth of certain EBITDA targets.

RealWealth was founded by Ross McCredie, founder of Sotheby’s International Realty Canada, and architect of the sale of Pacific Union to Compass, forming the largest independent real estate brokerage in the United States.

In concert with the experience and innovative technologies of other Voxtur companies like ANOW and Voxtur Valuation, VoxturWealth will empower real estate owners and their fiduciaries with unprecedented transparency and verified data to make better decisions.

“We see VoxturWealth becoming an invaluable industry resource. This acquisition and our work together are important benchmarks for our transition into a full-service real estate technology company,” said Voxtur CEO Jim Albertelli.

The Acquisition constituted an “Expedited Acquisition” in accordance with TSX Venture Exchange Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets and remains subject to final approval by the TSX Venture Exchange. All references to currency in this release are reference to Canadian dollars.