I-Remit, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 11:18 pm EDT
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I-Remit, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was PHP 97.35 million compared to PHP 136.46 million a year ago. Net loss was PHP 76.23 million compared to PHP 36.25 million a year ago. Basic loss per share from continuing operations was PHP 0.1246 compared to PHP 0.0593 a year ago.
For the six months, sales was PHP 217.05 million compared to PHP 272.2 million a year ago. Net loss was PHP 151.81 million compared to PHP 79.98 million a year ago. Basic loss per share from continuing operations was PHP 0.2482 compared to PHP 0.1308 a year ago.
I-Remit, Inc. is a Philippines-based company engaged in the business of servicing the remittance needs of overseas Filipino workers (OFWs) and other migrant workers. The Company's segments include Philippines, Asia Pacific, Europe and North America. The Company and its subsidiaries are primarily engaged in the business of fund transfer and remittance services of any form or kind of currencies or monies, either by electronic, telegraphic, wire or any other mode of transfer and undertakes the delivery of such funds or monies, both in the domestic and international market, by providing either courier or freight forwarding services, and conducts foreign exchange transactions. The Companyâs products and services include Bank-to-Bank, Notify-to-Pay, I-Remit Visa Card, Door-to-Door, Auxiliary Services and iRemit online platform (iRemitX). The Company operates its own offices in eight countries and is in partnership with over 100 financial institutions in 30 countries across the world.
I-REMIT, INC. 
