Toronto, Ontario–(Newsfile Corp. – May 26, 2023) – Tenet Fintech Group Inc. PKK PKKFF (“Tenet” or the “Company”), an innovative fintech technology services provider and operator of the Cubeler™ Business Hub, today announced its financial results and operating highlights for the three-month period ended March 31, 2023. Similar to the fourth quarter of 2022, the first quarter of 2023 was a difficult one in China from an economic standpoint. Tenet generated $9.49 million in revenue in Q1 and had a net loss of $8.7 million as SMEs in China were still struggling to recover following the sporadic government imposed COVID-19 lockdowns as was stated by the Company’s Chinese Operations’ CEO and Director of Finance. All amounts expressed are in Canadian dollars.
The Company continues to streamline operations in line with its previous press releases in May 2023.
Q1 Financial Highlights:
- Total Revenue of $9.49M
- Adjusted EBITDA of ($5.87M)
- Net Loss of ($8.7M)
Summary of Quarterly Evolution of Revenue, Adjusted EBITDA and Net Income (Loss)
| Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | |
| Revenue | $9,493,804 | Read more…
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