WeCommerce Holdings Ltd. Class A (TSE:TINY) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tiny Ltd. (formerly WeCommerce Holdings Ltd.) reported a robust first quarter in 2024 with a significant revenue jump to $48.9 million, a 35% increase from the previous year, underscored by a marked improvement in recurring revenue which now represents 19% of total revenue. Operating cash flow turned positive, reaching $2.9 million, contrasting with a cash outflow in the same quarter the year before. Despite these gains, the company’s net loss widened to $8.9 million, largely due to depreciation and amortization expenses following a recent merger.
For further insights into TSE:TINY stock, check out TipRanks’ Stock Analysis page.