Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  GTY Technology Holdings Inc.    GTYH


News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

GTY Technology : San Francisco and GTY's CityBase Launch Online Recreational Cannabis Business Licensing System

share with twitter share with LinkedIn share with facebook
share via e-mail
01/15/2020 | 07:32am EST

Software Coordinates Approvals Among Multiple Departments

Government technology firm CityBase has partnered with the City and County of San Francisco to launch a new online recreational cannabis business licensing system, enabling companies that want to sell cannabis to submit their permit applications and fees in one place. CityBase is a business unit of GTY Technology Holdings Inc. (Nasdaq:GTYH) (“GTY”), a leading provider of SaaS/Cloud solutions for the public sector.

The City and County of San Francisco’s new Office of Cannabis and its Office of Digital Services partnered on the effort with CityBase. The licensing system can be accessed at officeofcannabis.sfgov.org.

“In partnership with CityBase and the San Francisco Office of Cannabis, we’ve worked hard to revolutionize the way we offer cannabis permits,” said Carrie Bishop, Chief Digital Services Officer for the City and County of San Francisco. “It’s one of the first examples of a city creating a seamless permitting process online that is entirely digital and designed to make it easier for applicants to navigate. This approach is now informing digital permitting across the City, and we’re excited to continue using technology to simplify complex services, including business permitting, for our residents.”

On January 23 in Los Angeles, Bishop will discuss results and best practices of the permitting solution at the Cannabis Compliance West event, on the panel “Easy and Equitable: How San Francisco Streamlines Cannabis Business Permitting.”

“San Francisco is raising the bar for what residents and businesses can expect from their government,” said CityBase CEO Mike Duffy. “This effort is a great example of how city agencies, in collaboration with tech companies, can streamline complex permitting processes for businesses and government alike. It’s a true partnership, and it generates remarkable results.”

The cannabis permitting process is particularly complex because a recreational dispensary must have the approval of the planning, police and fire departments, to name a few.

San Francisco’s licensing technology enables each of the relevant departments to track every step of each permit in a single online view. City and county agencies can proactively move applicants to the next stage of the process by sending them the next required forms, with key business details prepopulated from the information applicants already submitted.

This case management technology increases collaboration across agencies and, thus, the speed at which permits are issued.

Chicago-based CityBase intends to bring the cannabis licensing system to other cities and apply it to other complex business permitting processes.

“CityBase’s platform was designed for flexibility,” said Josh Goldstein, CityBase’s Chief Product Officer. “Our platform allows us to easily accommodate the wide range of city and state regulations we see across the country. We were even able to build the cannabis licensing services before the State of California had finalized its own licensing guidance. And we’re partnering with governments to supply the solutions that make it easier on governments and businesses to be in legal compliance.”

About CityBase
CityBase makes government and utility technology that modernizes and unifies the way people find, apply, and pay for services. CityBase works with local governments, agencies and utilities to integrate payment functionality, business processes, and communications onto a central, cloud-based platform that consumers can access through the web, mobile, kiosk, IVR, or point of sale. Learn more at thecitybase.com.

About GTY Technology Holdings Inc.
GTY Technology Holdings Inc. (NASDAQ:GTYH) (“GTY”) brings leading public sector technology companies together to achieve a new standard in stakeholder engagement and resource management. Through its six business units, GTY offers an intuitive cloud-based suite of solutions for state and local governments, education institutions, and healthcare organizations spanning functions in procurement, payments, grant management, budgeting, and permitting: Bonfire provides strategic sourcing and procurement software to enable confident and compliant spending decisions; CityBase provides government payment solutions to connect constituents with utilities and government agencies; eCivis offers a grant management system to maximize grant revenues and track performance; Open Counter provides government payment software to guide applicants through complex permitting and licensing procedures; Questica offers budget preparation and management software to deliver on financial and non-financial strategic objectives; Sherpa provides public sector budgeting software and consulting services.

Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The company’s actual results may differ from its expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the company’s expectations with respect to future performance and anticipated impacts of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the ability to recognize the anticipated benefits of GTY’s recent business combination transaction, which may be affected by, among other things, competition, the ability of the company to grow and manage growth profitably and retain its key employees; (2) costs related to the business combination; (3) the outcome of the New York and California lawsuits among the company, OpenGov, Inc. and the other parties thereto; (4) the inability to maintain the listing of the company’s common stock on The Nasdaq Stock Market; (5) changes in applicable laws or regulations; (6) the possibility that the company may be adversely affected by other economic, business, and/or competitive factors; (7) any government shutdown which impacts the ability of the company’s customers to purchase its products and services; and (8) other risks and uncertainties included in the company’s registration statement on Form S-1 (File No. 333-229926), including those under “Risk Factors” therein, and in the company’s other filings with the SEC. We caution you that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date made. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.

© Business Wire 2020
share with twitter share with LinkedIn share with facebook
share via e-mail
01/15GTY TECHNOLOGY : San Francisco and GTY's CityBase Launch Online Recreational Can..
01/14GTY TECHNOLOGY : Provides 2020 Revenue Guidance at Needham Growth Conference
01/14GTY TECHNOLOGY HOLDINGS INC. : Regulation FD Disclosure, Financial Statements an..
01/13GTY TECHNOLOGY : Provides Needham Growth Conference Webcast Details
01/07GTY TECHNOLOGY :  GTY Technology Recognized as GovTech 100 Company For 2020
2019GTY TECHNOLOGY : Innovation Update Expands Business Opportunities
2019GTY TECHNOLOGY : Questica Reports Nine Clients on the 2019 Open Cities Index
2019GTY TECHNOLOGY HOLDINGS INC. : Other Events, Financial Statements and Exhibits (..
2019GTY TECHNOLOGY : to Participate in January 2020 Investor Conference
2019GTY TECHNOLOGY : Questica Breaks Ground for New Headquarters
More news
Financials (USD)
Sales 2019 40,6 M
EBIT 2019 -17,9 M
Net income 2019 -65,2 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -4,89x
P/E ratio 2020 -10,0x
Capi. / Sales2019 7,87x
Capi. / Sales2020 5,27x
Capitalization 319 M
Duration : Period :
GTY Technology Holdings Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GTY TECHNOLOGY HOLDINGS IN
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 8,00  $
Last Close Price 6,11  $
Spread / Highest target 63,7%
Spread / Average Target 30,9%
Spread / Lowest Target -1,80%
EPS Revisions
Stephen J. Rohleder Chairman & Chief Executive Officer
John J. Curran Chief Financial Officer
Harry L. You Vice Chairman
William D. Green Independent Director
Randolph L. Cowen Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
HAL TRUST1.94%13 500
KOC HOLDING AS--.--%8 903
KINNEVIK2.45%6 790