I-Remit, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 12, 2023 at 07:43 pm EST
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I-Remit, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was PHP 10.54 million compared to PHP 77.96 million a year ago. Net loss was PHP 138.8 million compared to PHP 188.86 million a year ago. Basic loss per share from continuing operations was PHP 0.2269 compared to PHP 0.3088 a year ago.
For the nine months, sales was PHP 105.53 million compared to PHP 295.01 million a year ago. Net loss was PHP 270.48 million compared to PHP 340.67 million a year ago. Basic loss per share from continuing operations was PHP 0.4422 compared to PHP 0.557 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. 
