Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) (“Peak” or the “Company”), an innovative Fintech service provider to the Chinese commercial lending sector, today released its revenue, EBITDA and earnings guidance for the years 2021, 2022 and 2023.
“We’re very pleased to inform our shareholders that our recent capital raise has secured our ability to meet short-term objectives set by the Company both in terms of development and revenue growth,” said Peak CEO Johnson Joseph. “While expecting to be profitable in 2021, the Company is still in an early growth stage. Instead of providing percentage increase, it is more appropriate for us to say that we expect 2021 revenue to be more than double that of 2020, and for this dramatic growth trend to continue for the next three years. During that period, EBITDA margins should steadily increase from 12% to 25%. Revenue growth is expected to be mostly organic with just a handful of strategic acquisitions mixed in to complement our existing technology and bring more value to our clients. The services that we’ve recently added, coupled with our ability to control the flow of funds throughout our ecosystem thanks to our partnership with China UnionPay subsidiary Rongbang Technology, not only make our service offerings more compelling to SMEs, but are also creating additional opportunities for us with some larger international enterprises. We should soon be referring to our ecosystem as an ‘International Business Hub’ rather than just a Lending Hub operating exclusively in China“.
Financial Guidance Summary
|
Revenue |
EBITDA** |
Net Income (Loss) |
|
|
2020* |
$42.7M |
($2.78M) |
($5.5M) |
|
2021 |
$104.0M |
$12.5M |
$5.6M |
|
2022 |
$305.0M |
$59.0M |
$36.1M |
|
2023 |
$624.0M |
$155.0M |
$102.3M |
|
* Actual results |
|
** EBITDA is provided as a supplementary earnings measure to assist readers in determining the Company’s ability to generate cash-flows from operations and to cover finance charges. This is a non-GAAP measure that does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News |
