I-Remit, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 06:14 pm
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I-Remit, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was PHP 77.96 million compared to PHP 140.59 million a year ago. Net loss was PHP 188.86 million compared to PHP 16.78 million a year ago. Basic loss per share from continuing operations was PHP 0.3088 compared to PHP 0.0274 a year ago.
For the nine months, sales was PHP 295.01 million compared to PHP 412.78 million a year ago. Net loss was PHP 340.67 million compared to PHP 96.76 million a year ago. Basic loss per share from continuing operations was PHP 0.557 compared to PHP 0.1582 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. 
