Hi Candleguy.
From memory, their best quarter was Q4 in 2023, which was the first record quarter in terms of revenues.
Because the company is still small, but growing, it's hit & miss per quarter. It's mostly due to several factors, which include but are not limited to, many of the clients being located in Europe, the tax deadlines in each part of the world being different, holiday periods & delays in government departments that return the refunds to W2V, who then pass it to their clients. Hopefully, as the client base grows in multiple continents around the world over the years to come, the inconsistencies in GTV/revenues/cash receipts in each quarter should even out a bit & there will be more consistent growth in each quarter.
I agree with you, I think 2024 should display the potential for W2V. It will be a full year of an integrated DevoluIVA & the onboarding process, if the cost-cutting programs make an impact on cash burn, revenues from the Smart Spend Card (if any), revenues for the new AI-AP compliance product (if any), no COVID restrictions (so cash receipts should flow faster) & the growth of enterprise clients.
I'm hoping for an acquisition this year.
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