Tenet Fintech Group Inc. (C:PKK)
Business Focus: Financial Technology (Fintech) (NEC)
| Sector: Technology | Industry: Financial Technology (Fintech) |
| Company Contact | |
| Address: | 119 Spadina Ave. #705 TORONTO ON M5V 2L1 |
| Tel: | N/A |
| Website: | https://www.tenetfintech.com |
| IR: | See website |
| Key People | ||
| Carol Penhale Independent Chairman of the Board, Interim Chief Executive Officer | Claude Theroux Chief Technology Officer | Luis Rocha Chief Analytics Officer | Wendy Kennish Chief Legal Officer and Corporate Secretary |
| Business Overview |
| Tenet Fintech Group Inc. is a parent company of a group of financial technology (Fintech) and artificial intelligence (AI) companies. The Company's subsidiaries use technology, analytics and AI to create an ecosystem of small and medium-sized enterprises (SMEs) to carry out a range of interactions and transactions, including in the commercial lending space. Its subsidiaries provide various analytics and AI-based services to businesses and financial institutions through the Cubeler Business Hub. Cubeler Business Hub is a global ecosystem where analytics and AI are used to create opportunities and facilitate business-to-business (B2B) transactions among its members. Cubeler Business Hub helps create connections among SME execs across industries and regions. The Cubeler Business Hub uses AI and analytics to match and pre-qualify businesses with credit offers from various financial institutions, to detect trends, predict outcomes and provide insights, and facilitate business connections. |
| Financial Overview |
| For the nine months ended 30 September 2023, Tenet Fintech Group Inc revenues decreased 60% to C$35.5M. Net loss increased from C$17.6M to C$57.2M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Impairment of intangible assets increase from C$4.2M to C$12.9M (expense), Service fees increase from C$692K to C$3.4M (expense). |
| Employees: | 148 as of Dec 31, 2021 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $14.23M as of Sep 30, 2023 |
| Annual revenue (TTM): | $56.63M as of Sep 30, 2023 |
| EBITDA (TTM): | -$13.86M as of Sep 30, 2023 |
| Net annual income (TTM): | -$92.67M as of Sep 30, 2023 |
| Free cash flow (TTM): | -$14.83M as of Sep 30, 2023 |
| Net Debt Last Fiscal Year: | $11.39M as of Sep 30, 2023 |
| Shares outstanding: | 123,761,745 as of Nov 1, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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