CANPR app surpasses two million downloads
Revenues increase 7%, and Gross Profit 36%, quarter over quarter
Greater client diversification using CANPR platform for immigration services
Toronto, Ontario--(Newsfile Corp. - January 30, 2025) - CANPR Technology Ltd. (TSXV: WPR) ("CANPR" or the "Company"), a leading Canadian technology-enabled immigration service provider, today announced its consolidated financial and operational results for the second quarter ended November 30, 2024 ("Q2 2025").
KEY FINANCIAL HIGHLIGHTS FOR Q2 FY 2025:
Revenue of $1,481,976, a 7 per cent increase quarter over quarter driven by the acquisition of net new clients and an increase of additional services provided, and products used, across the CANPR platform.
Gross profit of $885,540, a 36.5 per cent increase quarter over quarter (Q1 FY 2025: $648, 850).
Net loss of $371,890 compared to $1,845,211 in Q1 FY 2025 which included a non-cash listing fee of $1, 584,964.
"Canada continues to be an attractive destination for newcomers and ensuring we help talented immigrants move here to address skills shortages is critical to our economy's growth," said Akshat Soni, Co-Founder and CEO of CANPR. "The CANPR platform will play a significant role supporting this outcome, and our differentiated offering speaks directly to the end-user who is digitally native and has high expectations about using technology to plan all aspects of their lives. It's encouraging to see the positive market response, and we're excited to introduce new features in the future."
BUSINESS AND OPERATIONS HIGHLIGHTS FOR Q2 FY 2025:
CANPR app surpasses two million downloads: providing enhanced user experience, and a tile-based display provides real-time information that's easy to reference so that users feel confident in their progress towards immigrating to Canada and accelerating outcomes once here. In addition, layering in an updated SmartCV experience has improved the job search functionality. Users can now search, apply and train for an upcoming job interview all through the app.
Greater client diversification: the Company's user demographic has increasingly become more diverse, with a substantial portion, ~35 per cent, coming from Canada. This is complemented by a significant ~40 per cent of users originating from the South Asian continent, and the remaining 25 per cent from the Middle East.
The full financial statements and Management Discussion & Analysis for CANPR are available on the Company's SEDAR+ profile at www.sedarplus.ca.
Visit www.CANPR.io to learn more and follow CANPR on Facebook, Instagram, TikTok and YouTube.
About CANPR Technology Ltd.
CANPR Technology Ltd. is a technology platform dedicated to helping immigrants in their journey toward becoming permanent residents of Canada. At CANPR, we offer a range of services to assist with the immigration journey. Our platform provides a comprehensive understanding of the process of
immigrating to Canada, completing and tracking immigration applications, connecting newcomers with employers to help them find a job, and post-immigration services to help them settle in Canada. Currently, the platform has over 2,000,000 app installs. For more information on CANPR, visit www.CANPR.io.
For more information contact:
CANPR Technology Ltd.
Akshat Soni
CEO and Director
647-692-3846
akshat@CANPR.io
Kieran Lawler
Kieran.lawler@loderockadvisors.com
416-303-0799
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Forward-Looking Statements
This press release contains statements which constitute "forward-looking information" or "forward-looking statements" (together "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among key factors and risks that could cause actual results to differ materially from those projected in the forward-looking information may include, without limitation, the demand for immigration services; changes to immigration policy; and changes in general economic conditions and financial markets. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended.
Forward-looking information contained herein are based on the assumptions, beliefs, expectations and opinions of management. Forward-looking information has been made as of the date hereof and the Company disclaims any obligation to updates any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
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SOURCE: CanPR Technology Inc.
