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RIWI Posts Record Quarterly Revenue, Profit and Cash; Year-over-Year Profit Grows by 584%

Toronto, Ontario--(Newsfile Corp. - November 26, 2019) - RIWI Corp. (CSE: RIW) (OTC Pink: 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, 2019. 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 Third Quarter of 2019 (in U.S. Dollars)

Financial Summary:

In U.S. Dollars Three months ended 
September 30
Nine months ended
September 30

2019201820192018
Revenues1,006,368801,4352,521,3731,841,888
Net income543,974298,683629,822149,986
Operating cash generated/(used)267,267(319,381)495,715(284,920)
Trailing 12-month revenues3,347,1632,356,392

Trailing 12-month net income896,371131,026

 

"I am pleased to report our growth, culminating in our first $1 million in quarterly revenue, while also increasing our profits and cash in the bank," said Neil Seeman, RIWI's Chief Executive Officer.

"We continue to focus on customer delivery excellence and to sharpen our sales process for more growth globally. That means serving new clients in new markets, building more market awareness for our proprietary data collection services, hiring excellent salespeople - and boosting recurring revenues and profit," he added.

RIWI's unaudited interim Financial Statements and Management Discussion and Analysis for the three and nine months ended September 30, 2019 and 2018, 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. 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 - without collecting any personally identifiable data. https://riwi.com.

RIWI CORP.

Signed: "Neil Seeman"
Neil Seeman, Chief Executive Officer

For more information, please contact:
Daniel Im, Chief Financial Officer
danielim@riwi.com | +1-416-205-9984 ext. 2

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/50133