Q4 2021 and FY 2021 Highlights
- Revenue increased 57% quarter-over-quarter and 368% year-over-year
- Gross Profit increased 33% quarter-over-quarter and 300% year-over-year
- 91% of Revenue for FY 2021 was derived from U.S. Operations — up from 63% for FY 2020
- Voxtur closed the acquisition of Benutech in Q4 2021
TORONTO, Ontario and TAMPA, Florida, May 2, 2022 GlobeNewswire — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, today announced its financial results for Q4 and FY 2021. The Company’s Audited Consolidated Financial Statements for the year ended December 31, 2021, and the related Management’s Discussion and Analysis (“MD&A”) are available at sedar.com and on the Company’s website at voxtur.com.
Voxtur’s operational growth strategy drives the Company’s momentum in producing game-changing SaaS-based solutions. The Company reaped the benefits of its organic growth strategy by expanding within its current client base, engaging new clients, and further developing new products and solutions after a year of strategic integrations of newly acquired accretive technologies. Voxtur continues to focus on growth by reinvesting revenues back into the Company, transforming the Voxtur brand into a market leader.
“2021 was a formative year for Voxtur, as we concentrated on revenue development through creative data-driven alternatives to established products in the valuation, title, and property tax spaces,” said Jim Albertelli, CEO of Voxtur. “We expanded our data set, added synergistic technologies, and focused on cross-selling opportunities. Due to our investment in growing our sales pipeline and technologies, we expect considerable revenue growth from new clients in 2022.”
Financial Results for Q4 2021 and FY 2021
- Revenue for Q4 2021 was $38.7M, representing a 57% increase over Q3 2021 and a 548% increase over Q4 2020
- Revenue for the twelve months ending December 31, 2021 was $95.9M, representing a 368% year-over-year increase
- Gross Profit for Q4 2021 was $12.6M, representing a 33% increase over Q3 2021
- Gross Profit for the twelve months ended December 31, 2021 was $37.3M, representing a 300% year-over-year increase
- Revenue from US Operations represented 91% of total revenue for the twelve months ending December 31, 2021, up from 63% from the twelve months ending December 31, 2020
- Cash and Cash Equivalents on December 31, 2021 was $41.5M
|Three months ended
|(In thousands of Canadian dollars)||2021||2020||2021||2020|
|Adjusted EBITDA, Unaudited1||30||506||611||(1,031||)|
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.
- Leading fourth-quarter growth was Voxtur’s launch of its next-generation valuation and appraisal technology platform, allowing lenders to better manage the appraisal process and reduce timelines.
- Voxtur completed the acquisition of Benutech, Inc., a preeminent source of innovative data solutions and technology applications for the real estate industry. With this acquisition, the Company bolstered recurring revenues while expanding the Voxtur Verified database.
- The acquisition of the RealWealth platform, now VoxturWealth, is accelerating Voxtur’s development of a direct-to-consumer asset management strategy by allowing homeowners and their fiduciaries to manage real estate assets efficiently and intelligently.
- Voxtur added capital resources with an oversubscribed capital raise from institutional lenders.
Subsequent Events Following Q4 2021:
- The TSX Venture Exchange recognized Voxtur as a 2022 Top 50 company, and a Top 3 company in the Technology sector. The 2022 TSX Venture 50 is a ranking of the top performers on the Exchange over the last year based on three equally weighted criteria: share price appreciation, trading volume, and market capitalization growth.
Release issued: February 24, 2022
- Voxtur announced, in response to changes to the Fannie Mae Single Family Selling Guide released on April 6, 2022, that it will offer a fully compliant alternative to title insurance through its Voxtur AOL (Attorney Opinion Letter) program.
Release issued: April 7, 2022
Voxtur continues to build on investments made in 2021, with the goal of making homeownership more affordable and accessible.
The Company will host a conference call at 9 a.m. Eastern time on Monday, May 2, 2022, to discuss details of the company’s performance followed by a question-and-answer period with analysts.
The conference call can be accessed live by dialing (866) 374-5140 five minutes prior to the scheduled start time. The conference pin is 95795053#.
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur’s proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
This news release contains forward-looking statements that involve known and unknown risks, uncertainties and assumptions that may not be realized. These statements relate to future events or future performance and reflect management’s current expectations and assumptions which are based on information currently available to management. There is significant risk that forward-looking statements will not prove to be accurate. A number of factors could cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements discussed in the forward-looking statements. The inclusion of forward-looking statements and information should not be regarded as a representation of Voxtur or any other person that the anticipated results will be achieved, and investors are cautioned not to place undue reliance on such information.
These forward-looking statements are made as of the date of this news release and, accordingly, are subject to change after such date. Voxtur does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
Voxtur’s common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.