Toronto, Ontario--(Newsfile Corp. - August 20, 2026) - RIWI Corp. (TSXV: RIWI) (OTC: RWCRF) (the "Company" or "RIWI"), a market research platform, global trend-tracking and prediction technology firm, reported its financial results for the three months ended June 30, 2026. 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 for the three months ended June 30, 2026 – in US Dollars:
- Revenue of $885,158 for the quarter ending June 30, 2026 compared with $1,495,370 for the quarter ended June 30, 2025, representing a decrease of 40.8%. Revenue increased 7.9% sequentially compared with the first quarter of 2026. The Company's revenue consisted of $418,937 in transaction revenue, $96,945 in recurring revenue and $369,276 in project-based revenue. RIWI recorded a net loss of $466,545 and an operating loss of $414,129 during the quarter, compared with a net loss of $336,380 and an operating loss of $291,248 for the quarter ending June 30, 2025.
- Recurring revenue remained significantly below the prior year primarily due to two previously disclosed contract non-renewals representing approximately $319,000 of prior-year quarterly revenue, partially offset by growth in CoolTool subscriptions. RIWI's transaction revenue also declined on a year-over-year basis, but this is expected to slowly improve over the coming quarters as RIWI onboards new publishers to its network and improves survey conversion rates.
- RIWI signed 181 customer contracts during the quarter, including 24 new customers, reflecting continued demand across the Company's solutions. The majority of these customer contracts came from the audience business unit.
- As discussed in RIWI's Q1 2026 MD&A, the Company experienced significant growth in demand for its managed services audience business beginning in the first quarter of 2026, which created operational challenges as volumes increased. During the second quarter of 2026, RIWI made significant progress addressing these challenges, including onboarding a new operational leader for the audience business unit, adding project management resources and implementing improvements to the RIWI technology platform. As a result, managed services revenue in June 2026, nearly doubled compared with May 2026. Management expects continued operational and sales improvements throughout 2026 to support improved performance going forward.
- RIWI released the beta version of its AI-powered anti-fraud solution near the end of the second quarter of 2026, and expects to onboard pilot customers in the third quarter of 2026. The Company has received positive initial feedback as customers increasingly seek improved solutions to identify and combat online research fraud. CoolTool 2.0, RIWI's AI-powered research platform, was also used in pilot projects during the second quarter of 2026, and is expected to become available to new subscribers during the third quarter of 2026. RIWI believes these new solutions can support growth in platform subscribers while improving the speed and efficiency of research workflows. Features include AI-assisted survey generation from a project brief, AI-powered probing of open-ended responses, and tools designed to reduce the time required to complete certain research projects by up to 80%.
"Revenue continues to be impacted by the non-renewal of a significant recurring revenue contract, which materially affected year-over-year revenue comparison," said Greg Wong, CEO of RIWI. "At the same time, we are seeing strong momentum in our managed services audience business, following the operational improvements implemented during the quarter. We are also pleased to have moved our new behavioral anti-fraud solution into customer beta testing, with full commercialization expected in the fourth quarter."
While the Company experienced sequential revenue growth and continued to benefit from its reduced cost structure, RIWI remained EBITDA and operating cash flow negative during the quarter. Management's near-term priorities remain driving revenue growth, maintaining cost discipline and improving profitability and cash flow.
| RIWI CORP. | ||||||||||||||||
| Condensed Consolidated Interim Statements of Loss and Comprehensive Loss | ||||||||||||||||
| For the three and six months ended June 30, 2026 and 2025 | ||||||||||||||||
| (Unaudited and expressed in U.S. dollars) | ||||||||||||||||
| Three months ended | Six months ended | |||||||||||||||
| June 30 | June 30 | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenues (Note 8) | $ | 885,158 | $ | 1,495,370 | $ | 1,705,661 | $ | 3,063,640 | ||||||||
| Operating expenses | ||||||||||||||||
| General and administrative (Note 9) | 343,413 | 381,816 | 680,531 | 860,965 | ||||||||||||
| Operations (Note 9) | 723,326 | 1,063,861 | 1,431,097 | 2,104,745 | ||||||||||||
| Technology costs (Note 9) | 124,828 | 159,460 | 242,247 | 333,958 | ||||||||||||
| Sales and marketing (Note 9) | 107,719 | 181,481 | 219,758 | 376,480 | ||||||||||||
| Total operating expenses | 1,299,286 | 1,786,618 | 2,573,633 | 3,676,148 | ||||||||||||
| Operating loss before other income | (414,129 | ) | (291,248 | ) | (867,972 | ) | (612,508 | ) | ||||||||
| Other income/(expense) | ||||||||||||||||
| Interest income | 1,985 | 2,244 | 1,990 | 3,564 | ||||||||||||
| Interest expense | (57,861 | ) | (32,630 | ) | (122,829 | ) | (63,370 | ) | ||||||||
| Other expenses | 5,708 | (30,713 | ) | (2,280 | ) | (41,765 | ) | |||||||||
| Total other income | (50,166 | ) | (61,099 | ) | (123,119 | ) | (101,571 | ) | ||||||||
| Net loss before income taxes | (464,295 | ) | (352,347 | ) | (991,091 | ) | (714,079 | ) | ||||||||
| Income tax recovery/(expense) | (2,250 | ) | 15,967 | (2,250 | ) | 31,934 | ||||||||||
| Net loss and comprehensive loss for the period | $ | (466,545 | ) | $ | (336,380 | ) | $ | (993,341 | ) | $ | (682,145 | ) | ||||
| Net income loss per share | ||||||||||||||||
| Basic and diluted | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.04 | ) | $ | (0.04 | ) | ||||
| Weighted average number of common shares outstanding | ||||||||||||||||
| Basic and diluted | 26,726,648 | 18,004,428 | 23,830,480 | 18,004,428 | ||||||||||||
| RIWI CORP. | ||||||
| Condensed Consolidated Interim Statements of Financial Position | ||||||
| As at June 30, 2026 and December 31, 2025 | ||||||
| (Unaudited and expressed in U.S. dollars) | ||||||
| June 30, 2026 | December 31, 2025 | |||||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents (Note 4) | $ | 1,157,625 | $ | 551,356 | ||
| Accounts receivable (Note 11(a)) | 841,811 | 1,128,344 | ||||
| Unbilled revenue (Note 8(b)) | 162,985 | 61,042 | ||||
| Prepaid expenses and other assets | 36,561 | 51,767 | ||||
| Total current assets | 2,198,982 | 1,792,509 | ||||
| Property and equipment | 12,170 | 13,997 | ||||
| Intangible assets (Note 5) | 1,009,345 | 1,156,816 | ||||
| Goodwill (Note 5) | 99,092 | 99,092 | ||||
| Total assets | $ | 3,319,587 | $ | 3,062,414 | ||
| Liabilities | ||||||
| Current liabilities | ||||||
| Accounts payable and accrued liabilities | $ | 822,158 | $ | 952,999 | ||
| Acquisition holdbacks payable | - | 104,989 | ||||
| Deferred revenue (Note 8(b)) | 244,755 | 253,742 | ||||
| Notes payable (Note 6) | 47,422 | 67,394 | ||||
| Total current liabilities | 1,114,336 | 1,379,124 | ||||
| Long-term liabilities | ||||||
| Long-term portion of notes payable (Note 6) | 1,202,759 | 1,539,428 | ||||
| Total liabilities | 2,317,095 | 2,918,552 | ||||
| Shareholders' equity | ||||||
| Share capital (Note 7) | 6,567,678 | 5,085,404 | ||||
| Contributed surplus (Note 7) | 3,271,111 | 3,184,159 | ||||
| Warrant reserve (Note 7) | 282,744 | - | ||||
| Accumulated deficit | (9,119,041 | ) | (8,125,701 | ) | ||
| Total shareholders' equity | 1,002,492 | 143,862 | ||||
| Total liabilities and shareholders' equity | $ | 3,319,587 | $ | 3,062,414 | ||
About RIWI
RIWI is a market research platform and global trend-tracking and prediction technology firm. On a monthly or annual subscription basis, 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 investors@riwi.com or call 1-833-FOR-RIWI (367-7494)
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310569
Source: RIWI Corp.