GIVX.TO - Givex Corporation

Un autre titre à surveiller en 2022 selon moi serait GIVX.TO.

Nombre d’actions en circulation : 115.1M
Pleinement diluée : 146.2M
Capitalisation boursière (31 janvier 2022) : 101.3M$

La compagnie développe, vend, installe et supporte 5 solutions technologiques pour tous types de commerçants et entreprises, en passant des marchands avec un seul emplacement jusqu’au compagnie Fortune 500.

Un client peut utiliser un ou tous les services offerts par l’entreprise car ils sont conçus et construits pour fonctionner ensembles sur une seule et même plateforme infonuagique. Les solutions offertes par GiveX comprennent l’engagement client (y compris les cartes cadeaux et système de fidèlité), les points de vente, les paiements, les intégrations et l’analyse de donnée.

GiveX compte plus de 250 employés, 10 bureaux à travers le monde et dessert plus de 96 000 emplacements client à travers 70 pays.

L’entreprise vient d’entrer en bourse via une prise de contrôle inversée vers la mi-décembre 2021. Le financement recherché était de l’ordre de 10M$CAD et j’ai entendu dire qu’il y a eu 27M$ d’intérêt pour finalement fermer le financement pour un montant total de 22M$.

Avant le RTO, les fondateurs et initiés détenaient 68% de l’actionnariat.

La compagnie a généré +50M$ de revenus audités en 2020 dont 90% étaient des revenus récurrents. Au Q3 2021, les revenus étaient de 40M$ avec +1M$ de bénéfice net. Le Q4 2021 sortira en mars 2022. Les projections pour 2022 et 2023 sont de 68M$ et 93M$ de revenus respectivement.

La compagnie compte poursuivre sa croissance entre autre en accélérant le M&A et elle est bien capitalisée pour le faire avec un fonds de roulement de 37M$ suite au financement de la prise de contrôle inversée. Ils ont déjà complété la première acquisition : Givex Completes Acquisition of Kalex Equipment Services

Un rapport d’analyste vient de sortir avec un prix cible de 3.20$ ce qui représente un gain potentiel de 263% au cours actuel. Gardez en tête que le rapport vient de la firme Research Capital Corporation qui était le lead agent lors du placement privé du RTO.

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Givex Launches Gift Card Program with MLSE

Adds another blue-chip client to the North American sports entertainment portfolio

TORONTO, Feb. 10, 2022 /PRNewswire/ - Givex Information Technology Group Ltd. (« Givex ») (TSX: GIVX) is thrilled to announce the launch of its industry-leading gift card program with Maple Leaf Sports & Entertainment Ltd. (« MLSE ») on Feb. 11, 2022. This relationship will allow MLSE to offer its teams’ fans a digital gift card program that can be redeemed at all its venues.

Givex is a Toronto-headquartered global fintech platform with customer engagement solutions that empower merchants with knowledge and knowhow. Its people and technology support a diverse range of hospitality and retail merchants in the Americas, EMEA and ASEAN markets.

« The relationship with MLSE adds another blue-chip client to our growing North American sports entertainment portfolio, » said Givex CEO Don Gray. « Givex technology is allowing MLSE to quickly pivot to a digital gift card presence from a physical one that relied on selling plastic, physical gift cards, » he added.

MLSE is the parent company of the Toronto Maple Leafs, Toronto Raptors, Toronto Argonauts, Toronto FC, Toronto Marlies, Raptors 905 and Toronto FC II. It also owns or operates all the venues that its teams play and train in, including Scotiabank Arena, BMO Field, Coca-Cola Coliseum, Ford Performance Centre, BMO Training Ground and the OVO Athletic Centre.

« We look forward to working alongside Givex, as we continue to strive towards a safe and contactless fan experience in all MLSE venues, » said Matthew Valentine, MLSE director of strategy and operations, food and beverage.

The gift card program launch will happen in two phases:

  • Phase one, starting Feb. 11, 2022, allows fans to redeem their gift cards on the MLSE website and through their mobile apps. Additionally, MLSE season ticket member card holders will be able to order and pay for food and merchandise using member credits from their seats at Scotiabank Arena, BMO Field, E11even, Real Sports Bar and Real Sports Apparel.
  • In phase two, to be rolled out later this year, fans will be able to buy digital credits from the MLSE website and through their mobile apps and redeem them at the above venues plus the OVO Athletic Centre, Coca-Cola Coliseum, Ford Performance Centre, TFC Academy and Lamport Stadium.
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Ça semble être une autre belle acquisition pour GIVEX. On ajoute une plateforme CRM pour les épiceries que GiveX n’aura pas à développer, plus de 2000 emplacements client ainsi qu’une base de 11 millions de consommateurs à laquelle GiveX pourra offrir d’autres services.

La compagnie semble exécuter sur son plan de M&A jusqu’à présent.


Givex Completes Acquisition of Loyalty Lane, Inc.

Adds 2000 more clients, 11 million more registered consumers and expands technology platform to the grocery, convenience store and gas station industry verticals

TORONTO, Feb. 18, 2022 /PRNewswire/ - Givex Information Technology Group Limited. (« Givex ») (TSX: GIVX) has completed the purchase of all of the outstanding shares of Loyalty Lane, Inc. (« Loyalty Lane »).

Loyalty Lane is a 15-year-old marketing technology company providing a robust customer relationship management (« CRM ») solution to independent grocers throughout the United States. Loyalty Lane serves over 2,000 grocers representing 14,000 check out lanes and fuel pumps, in addition to over 6 million registered consumers that can redeem both digital and traditional rewards and discounts in-store or online. Loyalty Lane provides Givex with a unique opportunity to expand its platform services into the grocery, convenience store, fuel pump and consumer channels in the USA and Canada.

Electronic Scrip Incorporated (« ESI ») , a subsidiary of Loyalty Lane, focuses on charitable giving with over 53,000 charities. These are supported by 5 million registered consumers who can direct their donations through a participating merchant to a specific school or charity. Since its founding, ESI has raised over $450 million for charities. Givex will be upgrading and adding to this service to more effectively support this viable asset.

Media Solutions Company (« MSC »), also a subsidiary of Loyalty Lane, has a 12-year history of specializing in templated offer websites, mobile apps, email and texting services as well as microsites and digital signage for small to medium grocers and convenience stores. MSC template technology gives Loyalty Lane and other merchants the ability to deliver offers on websites, phones and other digital media to Loyalty Lane registered consumers at a competitive price. MSC was a partner to Loyalty Lane for many years and was acquired to bring this functionality in-house.

Loyalty Lane and its subsidiaries ended 2021 with annualized, unaudited revenue of over US$4.5 million.

« The acquisition of Loyalty Lane will increase overall merchant locations, revenue and EBITDA but more importantly provide a CRM solution for grocery that Givex does not have today. Givex is also excited to offer additional services to the 11 million plus consumers Loyalty Lane currently serves, » said Don Gray, CEO of Givex.

« Loyalty Lane and Givex already have common clients and there is a tremendous opportunity for both companies to combine technologies, support services and development that will enable all services to eventually operate on one common platform, » said Bill Gray, President of Loyalty Lane.

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Merci pour l’info. Je n’ai pas réussi à trouver le prix de la transaction par contre.
J’ai mal à mon Ackroo :frowning:

Je ne pense pas que le prix soit divulgué encore.

Je sympathise pour Ackroo. Je suis maintenant breakeven et actionnaire depuis 2014…

Ackroo a définitivement manqué la parade, pas de grosse acquisition depuis presque 3 ans maintenant.

Givex Expands iFood Partnership to Launch iFood Card in Colombia

TORONTO, Feb. 24, 2022 /CNW/ - Givex Information Technology Group Ltd. (Givex), a global leader in omnichannel processing of gift cards, loyalty, and digital merchandise credit with more than seven billion reais already traded on its platform, and iFood, one of the most innovative foodtech companies in the world, are pleased to announce the launch of their highly successful iFood Card program in Colombia.

iFood is a leader in online food delivery in Latin America, driving more than 60 million monthly orders as well as providing business intelligence and management solutions to over 170,000 restaurants in 1,200 cities across Brazil. iFood has sold more than 10 million gift cards to Brazilian customers since migrating its iFood Card to the Givex platform in 2019 and is eager to repeat this success in Colombia.

Givex serves as a central platform, or ‹ GivexHub, › connecting all major B2C and B2B sales channels in Brazil with integrated business intelligence tracking the real-time performance of the iFood Card program in each channel.

« We are the partner that supports our clients even as they grow and their needs change. We look forward to working with iFood in this exciting new market and building on our mutual success in Brazil, » said Givex CEO Don Gray.

The iFood Card has many benefits for the B2B market in Colombia. Businesses can use the card to attract and retain talent, foster team engagement, and increase customer loyalty. Clients appreciate the many uses of the card, such as promoting virtual and physical happy hours, celebrating team achievements, and marking employee milestones.

The iFood card is exclusively redeemed for food in Colombia, and is accepted in 40,000 restaurants, bars and markets that are on the iFood app. « In just one month of operation, the number of companies buying the iFood Card in Colombia tripled, » said Paula Rabelo, director of growth for iFood. « By the end of March, we expect to sell 100,000 gift cards in the country. And today, on average, 3,500 small businesses already use the iFood Card, » she added.

Through Givex, iFood transformed the iFood Card into an omnichannel product, sold in mobile wallets and other digital marketplaces. By the end of 2021, companies were distributing the iFood Card to more than 60 million users of digital wallets and over 100,000 points of sale.

« We are always looking for partners who contribute to the innovation and pioneering spirit of our operation. Counting on Givex as a technology partner in the evolution of the iFood Card was fundamental for us to reach the results and continue this successful work, » emphasized Rabelo.

Givex is leveraging the technology and experience it developed over many years while supporting client locations in more than 100 countries to scale the expansion of the iFood Card program quickly and securely in Colombia. Key features, such as 24/7 Spanish support and currency conversion, are already in place because of Givex’s existing global footprint.

« Givex is very proud to be chosen by iFood to support this expansion. They have proven to be a real innovator in the foodtech space, and we are glad to help make their ideas a reality and offer our technology and business intelligence tools to achieve these incredible sales numbers for the iFood Card, » said Maria Costa, Managing Director Givex LATAM.

By bringing the iFood Card to Colombia, Givex and iFood look forward to building on past success and many more years of partnership.

About Givex
Givex (TSX: GIVX) is a global technology company designed to simplify business efficiencies through an omnichannel platform with a high level of security and innovation. The company has processed over 20 billion transactions, has client operations in more than 100 countries, and has operated in Brazil for more than 12 years where it traded more than seven billion reais in the Brazilian market alone. Since its founding in 1999, Givex has provided technological intelligence to a wide variety of industries, from restaurants and retail to hospitality and the service sector, offering a range of integrated and customizable products, including gift cards, digital exchange vouchers, loyalty and point-of-sale systems.

About iFood
iFood, the leader in online food delivery in Latin America, has 60 million monthly orders. For nine years in the market, the company of Brazilian origin is also present in Colombia. It works alongside partners with initiatives that bring together business intelligence and management solutions for the approximately 170,000 restaurants registered in more than 1,200 cities throughout Brazil. iFood counts major investors such as Movile - a global leader in mobile marketplaces - and Just Eat - one of the world’s largest online ordering companies.

The Captain’s Boil Expands into U.S.

Givex technology helps franchise pivot business model in response to pandemic

TORONTO, March 2, 2022 /CNW/ - Givex Information Technology Group Ltd. (« Givex ») (TSX: GIVX) is pleased to announce that The Captain’s Boil, a successful Canadian restaurant franchise and a long-time Givex customer, opened its first U.S. location on Jan. 6, 2022. The Captain’s Boil uses a full suite of Givex technology in its restaurants, including point-of-sale, kitchen display, gift card, loyalty, and inventory control systems, in addition to an online ordering app.

Givex is a Toronto-headquartered global fintech platform with customer engagement solutions that empower merchants with knowledge and knowhow. Its people and technology support a diverse range of hospitality and retail merchants in the Americas, EMEA and ASEAN markets.

« We congratulate The Captain’s Boil for successfully expanding into the U.S., » said Givex chief commercial officer Mo Chaar. « We look forward to growing with them as they expand their physical footprint across North America, » he added.

The Captain’s Boil showed incredible resilience during the pandemic by successfully opening its first U.S. location at 2680 Cumberland Mall in Atlanta, Ga., with plans to open three more in the region. The Captain’s Boil also pivoted its business by strengthening its takeout/delivery platforms with Givex technology.

« For more than five years, GivexPOS and other Givex technologies have helped improve our operations, from the kitchen display system ensuring that our food is served hot, to the robust inventory/recipe application helping control our food costs, » said Andy Huang, chief operating officer of The Captain’s Boil. He added, « Their system seamlessly integrated with a third-party app to help manage our labour costs, and we’re very pleased with the preliminary results of the loyalty program we recently implemented with Givex. »

Givex Installs Technology into Milestones Restaurants

Part of Givex platform rollout into 650 Foodtastic restaurants across 21 brands

TORONTO, March 17, 2022 /CNW/ - Givex Information Technology Group Ltd. (« Givex ») (TSX: GIVX) is very happy to announce the successful installation of its leading-edge restaurant technology platform in 40 Milestones restaurants Canada-wide. With this latest round of installations, Givex has implemented its end-to-end technology solution in more than a third of Foodtastic’s 650 restaurants across 21 brands.

Today, 40 Milestones restaurants in B.C., Alberta, Ontario and New Brunswick use a full suite of Givex technology, including point-of-sale (POS), kitchen display, gift card and payment systems in addition to an online ordering app. Notably, the installations were completed in less than two months despite the challenges of the holiday season, winter weather and supply chain issues.

« We are happy that Foodtastic selected Givex as its restaurant technology platform, » said Mo Chaar, Givex chief commercial officer. « The Givex platform, including GivexPOS, gift cards, online ordering and Pay@Table, provides Foodtastic with full insight into their business so they can better serve their franchisees and customers, » added Chaar.

Foodtastic is a major player in the Canadian food and beverage business, with 650 restaurants across 21 brands, including Milestones, Second Cup and Pita Pit. It was Givex’s technology, efficiency, service and the ability to quickly generate and provide relevant data that led Foodtastic to choose Givex as its restaurant technology partner when it decided to replace its legacy POS system.

« Givex clearly supports its clients, and we are very happy with how well the platform rollout went, especially Givex’s flexibility to work with our partners to ensure our restaurants have everything they need for operations, » said Gerry Kakaroubas, Foodtastic vice president of operations. « Our staff adapted to the new system very well and are excited about the overall functionality of the GivexPOS system, » he continued.

Givex Begins Trading on OTCQX

Broadens U.S. investor base with cost-effective way to trade Givex shares

TORONTO, March 21, 2022 /CNW/ - Givex Information Technology Group Limited (« Givex ») (TSX: GIVX) (OTCQX: GIVXF) is pleased to announce that Givex shares begin trading on the OTCQX today under the symbol « GIVXF ».

Givex is a Toronto-headquartered global fintech platform with customer engagement solutions that empower merchants with knowledge and knowhow. Its people and technology support a diverse range of hospitality and retail merchants in the Americas, EMEA and ASEAN markets.

OTC Markets Group operates regulated markets for trading 12,000 U.S. and international securities. Trading on the OTCQX offers Givex efficient, cost-effective access to U.S. capital markets and allows the company to use Canadian market reporting.

« As an established, growth-with-profit fintech company with a 20-year history of U.S. based operations, we are very pleased to begin trading on OTCQX. OTCQX provides U.S. investors with a cost-effective method of trading Givex shares and broadens the base of U.S. investors, » said Givex CEO Don Gray.

The recent purchases of Loyalty Lane and Kalex Equipment Services, combined with the launch of a gift card program with Maple Leaf Sports & Entertainment and expansion of the iFood Card into Colombia, demonstrates Givex’s successful execution of its strategy of growth through acquisitions while maintaining earnings by way of established sales and marketing channels.

U.S. investors can find current financial disclosure and quotes for Givex shares on

Givex Announces Fiscal Year and Fourth Quarter 2021 Financial Results

Revenue grew 7.1% to $55.2 million, and gross transactional volume increased 19% to $6.5 billion compared to the 12-month period ending Dec. 31, 2021, while customer locations reached 100,000

TORONTO, March 31, 2022 /CNW/ - Givex Information Technology Group Limited (« Givex ») (TSX: GIVX) (OTCQX: GIVXF), is pleased to present its financial results for the fiscal year and three-month periods ending Dec. 31, 2021.

Givex reports in Canadian dollars and in accordance with International Financial Reporting Standards (« IFRS »).

« Our steady revenue growth and solid earnings reflect Givex’s commitment to increasing revenue with consistent EBITDA margins, » said Givex CEO Don Gray. « We increased our point of sale gross transaction volume by an incredible 54 per cent, and increased our total number of customer locations to 100,000 despite the pandemic-related challenges faced by our retail, restaurant and hospitality partners in 2021. »

Mr. Gray added: « Our recent private placement, in connection with our listing on the Toronto Stock Exchange, strengthened our cash position to $35 million. This cash will be used to enhance our technology, make strategic acquisitions and at the same time keep our balance sheet healthy. »

Fiscal Year Financial Highlights

(All comparisons are relative to the 12-month period ending Dec. 31, 2020)

  • Revenue grew 7.1% to $55.2 million
  • *Gross transaction volume (« GTV ») increased 19% to $6.5 billion
  • **POS gross transaction volume (« POS GTV ») increased 54% to $793 million
  • ***Adjusted EBITDA was $8.3 million in 2021 compared to $9 million in 2020 (However, when normalized for the Canadian Government’s COVID-19 wage subsidy, which was $1 million in 2021 compared to $3.3 million in 2020, adjusted EBITDA increased 28% in 2021 compared to 2020)
  • ****Customer locations reached approximately 100,000, an increase of 5,000
  • Completed reverse takeover transaction and listing on the Toronto Stock Exchange and concurrently raised $22 million through a private placement

Fourth Quarter Financial Highlights

(All comparisons are relative to the three-month period ending Dec. 31, 2020)

  • Revenue decreased 4% to $15.2 million primarily due to increased COVID-19 pandemic restrictions in the fourth quarter of 2021
  • POS GTV increased 81% to $269 million
  • Adjusted EBITDA was $2.4 million in 2021 compared to $2.9 million in 2020 mainly because of the revenue decrease noted above
  • POS locations increased 42% to 1,201

Fourth Quarter Operational Highlights

  • Givex shares listed on the Toronto Stock Exchange
  • Launched GivexPay payment processing solution
  • Barburrito installed GivexPOS, online ordering, gift card and loyalty systems in all 170 locations
  • Buffalo Bills, Colorado Avalanche and Columbus Blue Jackets installed Uptix for customer payments and analytics
  • Implemented end-to-end technology solution in more than a third of Foodtastic’s 650 restaurants across 21 brands
  • Brazilian companies distributed Givex-powered iFood Card to more than 60 million users and 100,000 points of sale
  • Began installing GivexPOS, online ordering, gift card, kitchen display and Pay@Table systems plus online ordering app in 40 Milestones restaurants Canada-wide

More Information

Additional financial information, such as the audited annual Consolidated Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Annual Information Form , is available on the company’s SEDAR at

More information about Givex, including the Management Presentation and Overview , are posted on the company’s investor relations website at

Excellent vidéo de SmallCapDiscoveries avec le CEO de Givex, Don Gray. Il parle de l’entreprise, des différentes stratégies de croissance/acquisitions de clients, des différenciateurs qui démarquent GiveX des compétiteurs et plus encore.

J’essayerai de faire un résumé de notes en début de semaine. Je pense que GiveX offre un excellent risk-reward a ce stade-ci.

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Notes brouillon du vidéo ci-dessus :

Notes GiveX SmallCapDiscoveries AVRIL 2022

• 10 data centers dans 10 pays différents
• 113 000 emplacements clients
• Moins de 1% de churn
• Aucun client ne dépasse 2% des ventes
• Ils sont présents dans plus de 100 pays

• M&A

o Kalex - 5M$CAD de revenus annuel, spécialise dans l’installation de points de vente (KFC, Pizza Pizza, etc). Ils ont acheté la compagnie pour 2 raisons principales ; 1) avoir accès à la base de clients pour vendre les services de loyauté/carte cadeau, pas vraiment les points de vente car déjà bien établi 2) la raison principale était pour avoir accès à l’expertise de la compagnie et John Beaton le président pour aider à améliorer les larges déploiements avec de gros clients

o Les deux acquisitions début 2022 sont des compagnies profitables depuis des années, sans dette. Pour reprendre ses mots «we’re not buying a problem we need to fix»

o Loyalty Lane – spécialise dans les programmes de loyauté pour les épiceries. Les systèmes de coupon rabais sont complexes. Il donne l’exemple de Procter and Gamble, le POS doit déduire le montant du coupon et par la suite Procter et Gamble remet l’argent au marchand et le suivi/tracking peut être complexe. Ils ont travaillé plusieurs années sur le software.

o Les deux acquisitions vont ajouter plus de 10M$ de revenus et vont continuer de croître. Avec les autres acquisitions dans le pipeline et la croissance moyenne de GiveX, on peut s’attendre confortablement à une croissance de 16-17M$ des revenus en 2022. Il dit «and that’s just off the data that’s already available so I’m not really doing anything other than saying what’s already in the news» donc potentiellement plus de croissance anticipée

• Land & Expand : 113 000 emplacements clients actuellement. La compagnie vise à avoir au moins 10-15% de tous les clients qui utilisent la gamme complète des services vs un seul service (300$/mois au lieu de 50$/mois). Ils ont démontré être capable de upsell aux clients et maintenant avec un POS de plus en plus robuste et efficace, ils s’attendent à convertir/upsell encore plus de clients

• Croissance organique : ils continuent de soumissionner pour des appels d’offres (RFPs ou requetst for proposal). Ils ont gagnés deux larges soumissions début 2022 équivalent à plusieurs centaines de milliers de $ de revenus annuels. Ne peut pas en dire davantage à ce moment ci mais ils sont confiants de continuer et accélérer la croissance organique.

• Beaucoup d’emphase sur une croissance profitable. Il a toujours eu comme but d’avoir un ebitda positif. 15% d’ebitda en 2021 et il est confiant de maintenir un ebitda de 12-18% malgré la croissance.

• Le marché de GiveX (engagement / point of sale / payment) est énorme et très fragmenté. Il n’y a pas de compétiteur qui soit même proche de dominer le marché même les gros joueurs comme NCR, Fleet Course, Value Systems, etc. Il y a donc amplement de place pour permettre à GiveX de croître de 50-60-70M$ de revenus à 300-400M$ sans même essayer de dominer le marché. La compagnie peut se permettre de la faire de façon profitable sans essayer d’acheter une grosse part de marché en faisant d’énormes acquisitions comme d’autres joueurs ont tenté avant, sans vraiment de succès. Ils peuvent gagner des parts de marché et faire des acquisitions profitables et plus conservatrices

• Pourquoi GiveX vs d’autres compétiteurs?

o Beaucoup d’emphase sur la sécurité et compliance, se font auditer chaque année et ont investi sur cet aspect ce qui leur permet de gagner des clients comme des grosses banques US pour qui la sécurité est primordiale. Beaucoup de compagnies dans un range de 3-5M$ de revenus ne font pas ses démarches et frappe un mur à un certain point car ils ne peuvent pas acquérir de gros clients.

o Ils fonctionnent sur UNIX et pas avez Azure ou AWS. Ils ont leur propres data centers alors les dépenses n’augmentent pas au même rythme que les revenus. Ils peuvent facilement et à peu de frais ajouter des serveurs. La majorité de leur plus gros compétiteurs ont des data centers seulement aux US et certain clients d’europe et d’asie peuvent être inconfortables à sortir leurs données de leur jurisdictions. C’est donc un élément différenciateur d’avoir des data centers un peu partout à travers le monde.

• Améliorer la technologie– R&D?

o Plusieurs millions par année investi en R&D pour améliorer/renforcer le produit

o Les fonctionnalités et améliorations proviennent souvent de demandes client. Par exemple, il y a 2 ans, la fonctionnalité d’affichage cuisine n’existait pas. Des clients avaient soulevés l’idée et ils l’ont développé. Ça permet au marchand de connaître les délais précis du moment où un client s’assoit au moment où il reçoit son assiette, le temps de cuisson par plat, etc.

o Ils restent à l’affût de différentes technologies, par exemple en association avec une équipe de l’université de Waterloo, ils regardent si ils pourraient faire quelque chose dans le metaverse avec les cartes cadeaux ou programme de loyauté. Les cryptos, porte-feuille cryptos également. Ils n’iront pas dans n’importe quel projets sans réfléchir et ne veulent pas trop sortir de leur cercle de compétence mais si une opportunité semble intéressante, ils restent ouverts.

• Équipe des ventes

o Plus de 30 000 noms dans le lead tracking tool

o 15 employés dans l’équipe des ventes, beaucoup de outreach et d’appels partout à travers le monde

• Actionnariat des initiés
o Sur les 118M d’actions en circulation, Don Gray et sa femme détiennent près de 40M d’actions, deux autres actionnaires détiennent ensembles 25M d’actions, ils ne sont pas des initiés directeurs ou sur le board, seulement de large actionnaires.

• Ils ont un peu plus de 32M$ d’encaisse actuellement

• Processus d’acquisition

o Ne veulent pas faire des acquisitions de compagnie qui font 30M$ de revenus. Le sweet spot ce sont des entreprises qui génèrent 5-7M$ de revenus. Idéalement d’un entrepreneur qui opère la compagnie depuis au moins 5 ans et qui a frappé un peu au niveau d’amener l’entreprise à un autre niveau par manque de capital ou manque de sécurité (PCI compliant, etc)

o Combinaison de cash + équité en actions de GiveX et parfois un peu de dette bancaire

o Prudent sur les multiples payés. 1.5x les revenus passés pour Loyalty Lane, Kalex seulement 0.5x les revenus car ne possédait pas vraiment de technologie (service business)

o Prudent aussi avec l’émission d’action vu le prix du titre. Si il doit émettre des actions pour une transaction, il va les émettre à un premium du prix du marché et non pas à un discount

• Les plus gros challenge

o Toujours été le même challenge. Être capable de recruter et garder de bons employés. Ils ont des employés qui sont là depuis 10-12-15 ans, certains possèdent des actions et ont des intérêts alignés mais beaucoup d’employés montrent de la loyauté envers la compagnie. Ils compétitionnent à Toronto contre Amazon, Google, Microsoft donc environnement très difficile pour recruter. Par conséquent, ils ont plus de la moitié de l’équipe service-client qui travaille du Mexique au 1/3 du salaire que ça coûterait à Toronto.

• Pas de plan de share buy back actuellement même s’il considère le prix de l’action sous-évalué. L’argent levé était dans un but de faire des acquisitions et c’est ce qu’ils vont faire. Sous une base de EV/ebitda l’entreprise se transige à environ 8x alors que des comparables se transigent de façon conservatrice à 12-13x. Sur une base de multiples des revenus c’est encore plus sous-évalué.

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AKR.V serait peur-être une cible intéressante, au cours actuel…

J’y ai pensé. Ce serait un dénouement très ordinaire pour les actionnaires de longue date ( 8 ans dans mon cas :face_with_diagonal_mouth: ) mais je n’ai aucune idée si c’est quelque chose d’envisageable. Je serais curieux de savoir ce que @pbergeronbelanger @MathieuMartin ou autre personne qui connait un peu plus le management et la base d’actionnaire en pense.

Pour ma part, si je pouvais avoir un premium significatif sur le prix actuel et recevoir un mix de cash et actions de GiveX, je serais ouvert.

Tout ce que je peux dire c’est que des actions de GIVX constituent une bonne monnaie d’échange à recevoir. Le titre est sous-évalué!

Je ne sais pas si c’est une coincidence mais Steve a clairement fait savoir qu’il voulait vendre la compagnie Ackroo (TSX.V: AKR) Update with CEO Steve Levely - YouTube (à 32:30)

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Je pense que c’est peu probable présentement pour quelques raisons:

  • Givex transige à environ 1.7x les revenus et Ackroo à un peu plus de 2x (les marges brutes de Ackroo sont plus élevées, donc on ne compare pas exactement des pommes avec des pommes mais ça donne une idée). Compte tenu qu’un premium au prix du titre devrait être offert pour Ackroo, je pense que ce serait difficile pour Givex de justifier que ça crée de la valeur. Si Givex se transigeait à 4-5x les revenus, ce serait une autre histoire.

  • Pour continuer dans la logique ci-haut, je crois que Givex va plutôt se concentrer à faire des acquisitions de compagnies privées qui ont généralement des multiples moins élevés. Cependant, je me questionne potentiellement sur la qualité des entreprises achetées si les multiples sont bas (pas de croissance? mauvais produit ou service?)

  • Le CEO de Givex m’a déjà mentionné que les acquisitions au Canada n’étaient pas un énorme focus étant donné que l’entreprise est déjà bien établie ici. Je crois qu’il cherche plutôt à l’international.

À mon avis, Ackroo et Givex sont un peu dans le même bateau (petits consolidateurs qui se transigent à des valorisations très basses présentement) alors je n’ai pas l’impression qu’un des deux jouit d’une position relative supérieure pour acheter l’autre.

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Givex Announces First Quarter 2022 Financial Results

Revenue increased 26% to $16.3 million and customer locations increased 26% to 115,000, compared to the three-month period ending Mar 31, 2021.

TORONTO, May 16, 2022 /PRNewswire/ - Givex Information Technology Group Limited (« Givex ») (TSX: GIVX) (OTCQX: GIVXF), is pleased to present its financial results for the three-month period ending Mar 31, 2022.

Givex reports in Canadian dollars and in accordance with International Financial Reporting Standards (« IFRS »).

« Revenue grew 26% this quarter, to $16.3 million, along with a corresponding increase in our number of customer locations, to 115,000, » said Givex CEO Don Gray. « POS Gross Transactional Value also increased by 93% to $237 million, reflecting our gains in the POS market. Compared to the start of 2021, many more of our merchants are now operating at near capacity and their need for our services is greater than ever. Our solutions in customer engagement and data are also critical to how businesses are competing for market share in this post-pandemic landscape. »

« This quarter, our strategic acquisitions of Kalex and Loyalty Lane brought in large client bases that are not current Givex users, representing a significant opportunity to upsell them Givex services, » Mr. Gray added. « They also brought important IT installation and support services in-house, as well as strengthened our service offerings in the grocery and convenience store verticals. »

First Quarter Financial Highlights

(All comparisons are relative to the three-month period ending Mar 31, 2021)

  • Revenue increased $3.3 million from $13 million to $16.3 million, 26% growth.
  • Adjusted EBITDA* was $1.3 million in 2022 compared to $1.3 million in 2021. However, when normalized for the Canadian Government’s COVID-19 wage subsidy received in 2021, adjusted EBITDA increased 4% in 2022 compared to 2021.
  • Total Gross Transactional Value** increased approximately $0.22 billion or 21%, from $1.04 billion in Q1 2021 to $1.26 billion in Q1 2022.
  • POS Gross Transactional Value*** increased approximately $114 million or 93%, from $123 million in Q1 2021 to $237 million in Q1 2022.
  • Customer Locations**** increased approximately 24,000 or 26%, from 91,000 in Q1 2021 to 115,000 in Q1 2022

First Quarter Operational Highlights

  • Launched the iFood Card in Colombia with Brazilian partner iFood. The program is a success in Brazil, where it has over 60 million users.
  • Boarded our first GivexPay client
  • Completed direct integrations with UberEats, SkipTheDishes, Ritual and DoorDash, eliminating overhead and improving online order service speed for our clients.
  • Launched gift card program for Maple Leaf Sports & Entertainment (MLSE), adding to our client roster of Major League teams.
  • Acquired Kalex Equipment Services, an IT installation and services business with 15,000 client locations across Canada, including many national restaurant and retail brands.
  • Acquired Loyalty Lane, a marketing technology company with 2,000 clients in the grocery and convenience store verticals and 11 million registered consumers.

More Information

Additional financial information, such as the audited annual Consolidated Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Annual Information Form, is available on the company’s SEDAR at

More information about Givex, including the Management Presentation and Overview, are posted on the company’s investor relations website at