NetworkNewsBreaks – GreenBox POS (NASDAQ: GBOX)
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Posted On: 05/17/2022 4:06:11 PM
NetworkNewsBreaks – GreenBox POS (NASDAQ: GBOX) Releases Q1 2022 Financial Report, Corporate Update
GreenBox (NASDAQ: GBOX), an emerging and rapidly growing fintech company, is reporting its financial numbers for the first quarter ending March 31, 2022. Highlights of the report include Q1 revenues of $4.9 million, up from $4.7 million in the same quarter last year and a processing volume growth for the quarter of $754 million versus $315 million last year. In addition, the company noted that it completed two acquisitions, including its largest acquisition to date, expanding the company’s global footprint with the acquisition of Transact Europe, and that it closed a significant licensing partnership with Cross River Bank, designed to launch banking as a service offering and expand the universe of new customers while creating incremental channels for revenue growth. Additions were made to the board of directors and executive management team and the company accelerated its share repurchase program and announced INNOCEAN as its global marketing agency.
In addition, GreenBox chair Ben Errez was featured in the most recent Bell2Bell podcast. The podcast delivers updates and exclusive interviews with executives operating in fast-moving industries. Throughout the interview, Errez and host Stuart Smith talked about the history of the company as well as its business model, operating markets and objectives. “I divide the goals for the company into several parallels,” said GreenBox chair Ben Errez in the interview. “Number one is geographic control and expansion. Most of our business today is done within the U.S., but with our completed acquisition in Europe that we announced recently, you can tell that our global expansion will begin in that region. . . . The second slice is the type of business that we do. . . . Obviously, the company makes a lot more money in the form of transactional fees when we do transactions in the mid- to high-risk space; however, we can’t do just that. We have to have a blend that fits the risk profile of the company in general. . . . Overall, we’re looking at 60% low-risk, 40% medium-to-high-risk. That’s the general goal.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
GreenBox (NASDAQ: GBOX), an emerging and rapidly growing fintech company, is reporting its financial numbers for the first quarter ending March 31, 2022. Highlights of the report include Q1 revenues of $4.9 million, up from $4.7 million in the same quarter last year and a processing volume growth for the quarter of $754 million versus $315 million last year. In addition, the company noted that it completed two acquisitions, including its largest acquisition to date, expanding the company’s global footprint with the acquisition of Transact Europe, and that it closed a significant licensing partnership with Cross River Bank, designed to launch banking as a service offering and expand the universe of new customers while creating incremental channels for revenue growth. Additions were made to the board of directors and executive management team and the company accelerated its share repurchase program and announced INNOCEAN as its global marketing agency.
In addition, GreenBox chair Ben Errez was featured in the most recent Bell2Bell podcast. The podcast delivers updates and exclusive interviews with executives operating in fast-moving industries. Throughout the interview, Errez and host Stuart Smith talked about the history of the company as well as its business model, operating markets and objectives. “I divide the goals for the company into several parallels,” said GreenBox chair Ben Errez in the interview. “Number one is geographic control and expansion. Most of our business today is done within the U.S., but with our completed acquisition in Europe that we announced recently, you can tell that our global expansion will begin in that region. . . . The second slice is the type of business that we do. . . . Obviously, the company makes a lot more money in the form of transactional fees when we do transactions in the mid- to high-risk space; however, we can’t do just that. We have to have a blend that fits the risk profile of the company in general. . . . Overall, we’re looking at 60% low-risk, 40% medium-to-high-risk. That’s the general goal.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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