Clip Money Inc. Reports Second Quarter 2026 Results

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Postmedia has not reviewed the content. by GlobeNewswire Clip Money Inc. Reports Second Quarter 2026 ResultsAuthor of the article:TORONTO, Aug. 24, 2026 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V: CLIP) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce its financial results for the three and six months ended June 30, 2026. The Company reported continued revenue growth in the second quarter of 2026, up 42% from Q2 2025, while cost of revenues were up only 17% during the same time period, maintaining high operating leverage.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountSecond Quarter 2026 Financial Highlights:Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againRevenue for the second quarter of 2026 (“Q2 2026”) was $1,913,490, compared to $1,349,587 in the second quarter of 2025 (“Q2 2025”), which equates to 42% growth year-over-year (“YoY”). Q2 2026 revenue increased 9% quarter-over-quarter (“QoQ”) compared to the first quarter of 2026 (“Q1 2026”). Revenue for the six months ended June 30, 2026 was $3,676,670, compared to $2,322,293 in the first half of 2025, representing 58% growth YoY.Revenue growth continues to outpace changes in Costs of Revenue (“COR”). Q2 2026 COR of $1,344,020 was up 17% YoY, relative to 42% YoY revenue growth, expanding gross profit to $569,470 from $202,530 in Q2 2025.Year-over-Year (YoY) revenue growth for Q2 2026 was primarily fueled by a 53% increase in new deposit users and a 31% increase in revenue per user. This deposit revenue expansion was further supported by strong contributions from new Clip products, such as ClipChange, which saw a 157% increase in YoY revenue. Active locations of ClipChange increased by 167% to over 1700 locations in Q2 from the prior period in 2025.Operating expenses for Q2 2026 were $1,798,797, compared to $1,719,300 in Q2 2025, which represents a 5% YoY increase. Q2 2026 operating expenses were 4% lower QoQ compared to Q1 2026. Net loss for Q2 2026 was $1,440,088, compared to $2,174,025 in Q2 2025, which represents a decrease of 34% YoY. Net loss per share was $(0.01) in Q2 2026, compared to $(0.02) in Q2 2025.Network & Customer Highlights:Active customer locations reached 4,378 in Q2 2026, including 8 new enterprise businesses from a variety of industry segments including healthcare, convenience, services and specialty retail industries. We are pleased to welcome these new clients to our network, who in total have over 1,500 locations available to participate in the Clip network. Clip Money’s multi-channel network customer value proposition gathered momentum in the second quarter. 5 of the 8 new Clip customers are using ClipATM or ClipCenter to perform their deposits, in addition to the ClipDrop network. Of these 5 multi-channel customers, 3 are primary ClipATM and ClipCenter users validating the convenience and efficiency of the Clip network.ClipChange order growth continued as Clip customers rely on the convenient and dependable service of change orders delivered directly to their business locations. Clip Change is now enjoyed by nearly 1 in 3 Clip customers, creating greater freedom from traditional bank branch deposits by eliminating the need for costly and inconvenient bank runs.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.“Our second quarter results demonstrate the growing power and scale of the Clip network. Achieving 42% year-over-year revenue growth while limiting our cost of revenue increase to just 17% highlights the exceptional operating leverage inherent in our model. Furthermore, our channel strategy is picking up significant momentum. We are excited about the progress and development of partnerships with financial institutions, who ultimately own commercial customer relationships. We expect these key channel partners to dramatically increase our available market in the second half of 2026. Combining our proven direct sales engine with strategic channel partners will accelerate our revenue trajectory well beyond what direct sales could achieve alone, strongly validating the essential, transformative service we are delivering to the market”Joseph Arrage (CEO & Co-Founder)On July 8, 2026, the Company announced the closing of the first tranche of a non-brokered private placement, pursuant to which it issued 8,686,377 common shares in the capital of the Company at a price of CAD$0.144 per common share for gross proceeds of US$880,500 (CAD$1,250,838), to two investors, both of whom are insiders of the Company.On July 29, 2026, the Company announced a master services agreement for a commercial partnership involving joint go-to-market and solution development. The Agreement provides for an upfront fee of USD$1.75 million, plus up to USD$2.75 million in milestone-based payments, for a total potential value of up to USD$4.5 million. It has an initial seven-year term with automatic two-year renewals.On August 12, 2026, the Company received its second and final advance of $1,140,000 (CAD $1,620,000) from Business Development Bank of Canada’s Growth and Transition Capital team pursuant to the Company’s previously announced CAD$3 million loan (the “BDC Loan”). The BDC Loan, which matures on August 15, 2028, has now been fully drawn for an aggregate principal amount of CAD$3 million.The Company’s interim condensed consolidated financial statements, notes to financial statements, and management discussion and analysis for the three and six months ended June 30, 2026 are available on the Company’s SEDAR+ profile at www.sedarplus.ca. Unless otherwise indicated, all references to “$” in this press release refer to U.S. dollars.Forward‐Looking StatementsThis news release may contain forward‐looking statements (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company’s business.The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box, ClipATM, or ClipCenter located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across the United States. For more information about the Company, visit www.clipmoney.com.For further information, please contact:Joseph ArrageChief Executive Officertel: 844-593-2547Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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