10:06 AM EDT, 05/02/2024 (MT Newswires) -- Givex Corp. ( GIVXF ) on Thursday reported net Income of $492,000 for the first quarter of 2024, versus a loss in the year earlier period, buoyed by higher revenues. Its shares were slightly lower, as the broader TSX turned lower.

"Achieving net profit alongside revenue growth is a milestone we've been working towards since going public," said Don Gray, CEO of Givex ( GIVXF ), in a statement.

For the three-month period ending March 31, 2024 (with comparisons relative to the three-month period ending March 31, 2023), there was revenue of $20.8 million, representing 8.6% growth; Gross Profit of $14.0 million, representing 6.3% growth; Net Income of $492,000, versus a loss in Q1, 2023 and EBITDA of $1.7 million, a 3,361% increase.

As at March 31, 2024, Givex ( GIVXF ) had $23.7 million in cash and cash equivalents.

Price: 0.80, Change: -0.01, Percent Change: -1.23