05:13 PM EDT, 03/18/2024 (MT Newswires) -- Payfare Inc. ( PYFRF ) , a fintech that saw its stock gain more than 2% today, announced after trade Mondayan update to the timing of its fourth quarter and full year 2023 results release and corresponding earnings conference call to April 1, 2024, after market close, from the previously scheduled date of March 21, 2024.

The company in a statement said it has not yet received a System and Organization Controls auditor's report from one of its key service providers related to the operating effectiveness of the service provider's controls. The company added it cannot complete the certification of the fiscal 2023 results until this report has been obtained and assessed and for Payfare's ( PYFRF ) external auditors to complete their related audit procedures. According to Payfare ( PYFRF ), the delivery of the SOC 1 auditor's report is the sole responsibility of the key service provider and the key service provider is working closely with its auditor to finalize the SOC 1 report.

Meanwhile, Payfare ( PYFRF ) reaffirms its previously issued fourth quarter 2023 revenue and Adjusted EBITDA guidance of $50 million and $7 million, respectively, and highlights that the delay in receiving this SOC 1 report from its service provider has no impact on the company's financial outlook.