Veritec, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2022
February 14, 2023 at 04:45 pm EST
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Veritec, Inc. reported earnings results for the second quarter and six months ended December 31, 2022. For the second quarter, the company reported revenue was USD 0.107 million compared to USD 0.081 million a year ago. Net loss was USD 0.272 million compared to USD 0.123 million a year ago. Basic loss per share from continuing operations was USD 0.01.
For the six months, revenue was USD 0.208 million compared to USD 0.197 million a year ago. Net loss was USD 0.583 million compared to USD 0.355 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.01 a year ago.
Veritec, Inc. is engaged in the development, sales, and licensing of products and providing services related to its mobile banking solutions. It provides back-end cardholder transaction processing services for Visa-branded card programs on behalf of its sponsoring bank. Its Mobile Banking Technology is used to offer Prepaid Card Programs to sponsor banks and approved applicants/cardholders. Its products and solutions include MTC Debit Card - Visa Prepaid Card Programs, blinx ON-OFF Debit Card - Visa Prepaid Card Programs, Custom Branded Debit Card Programs and blinxPay Mobile Wallet App. The blinx ON-OFF card is based on the Mobile Banking Technology platform and offers the same features and functions as the MTC branded card but with different pricing for bank-sponsored cards. The blinxPay is a secure payment processing system and mobile app that enables customers to make purchases. Its Mobile Banking Technology resides within a Payment Card Industry compliant data processing center.
VERITEC, INC. 
