Toronto, ON – RIWI Corp. (TSXV: RIWI) (OTC: RWCRF) (the “Company” or “RIWI”), a global trend-tracking and prediction technology firm, reported its financial results for the three and nine months ended September 30, 2021. All figures are reported in U.S. dollars unless otherwise indicated. RIWI’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
RIWI Highlights (in U.S. Dollars):
- RIWI posted $1,158,541 in revenue for the three months ended September 30, 2021, an increase of 23% compared to $940,019 for the three months ended September 30, 2020.
- RIWI posted $3,513,997 in revenue for the nine months ended September 30, 2021, an increase of 8% compared to $3,262,900 for the nine months ended September 30, 2020.
- On an annual basis, RIWI’s revenue for the twelve months ended September 30, 2021 was $4,831,835, an increase of 25% compared to $3,852,405 for the twelve months ended September 30, 2020.
- RIWI had 68 revenue generating projects in the nine months ending September 30, 2021 versus 43 in the same period in 2020, an increase of 58%.
- Notable recent announcements include:
a. September 13, 2021: Proven public company executive and technology leader Greg Wong joined the Company as CEO to lead RIWI’s next phase of growth and platform development. Neil Seeman, RIWI’s Founder, remains on as non-executive Chairman of the Company.
b. September 24, 2021: RIWI was ranked 13th among public companies on the 2021 Report on Business ranking of Canada’s Top Growing Companies, with three-year revenue growth of 240%. RIWI has earned a spot on this authoritative ranking for three consecutive years, ever since the inception of The Globe and Mail’s list.
c. September 29, 2021: RIWI signed a contract valued over $670,000 in the first year, and the client has the option to renew the contract in each of the next two years, for a total contract value of approximately $2 million.
d. RIWI launched “RIWI Alpha – China,” a novel, real-time syndicated data stream for financial market participants, which tracks changing demand for varied electric vehicles and luxury goods. These benchmarks are meant to help traders understand the sentiment toward brands in China and help be a predictor of: (i) consumer demand in the region; and (ii) the future health of US publicly traded equities that are heavily influenced by changing purchase activity in China.
“RIWI’s vision is to be the most trusted and transparent source of global data,” says Greg Wong, RIWI’s Chief Executive Officer. “Our increase of 58% in revenue-generating projects compared to the same period in 2020 proves the value and trust that our customers and partners have in RIWI and in our unique platform.”
RIWI’s unaudited interim Financial Statements and Management’s Discussion and Analysis for the three and nine months ended September 30, 2021, are available via RIWI’s website at https://riwi.com and on SEDAR at www.sedar.com.
About RIWI
RIWI is a global trend-tracking and prediction technology firm. RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries. https://riwi.com
RIWI CORP.
Signed: “Greg Wong”
Greg Wong, Chief Executive Officer
For more information, please contact:
Andrew Barwicki
Barwicki Investor Relations Inc.
1-516-662-9461
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of Canadian securities legislation that involves risks and uncertainties. Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws. Forward-looking information relates to future events or future performance and reflects management of the Company’s expectations or beliefs regarding future events. This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.