Inverite Announces Audited Consolidated Financial Results for Twelve Months Ending March 31, 2025, as Compared to the 15 Months Ending March 31, 2024

Executive Summary

• Inverite Insights Inc. released its comparative 12-month audited financial results for the year ended March 31, 2025, alongside 15-month results for the prior period.
• The company reported a 23% increase in comparable verification fee revenue and a 25% decrease in operating expenses, driven by cost efficiencies and the discontinuation of non-core operations.
• Total revenue decreased by 20% year-over-year due to the comparison against a 15-month period in 2024, but on a comparable 12-month basis, verification fee revenue grew significantly.
• The company settled $1.35M in debt for shares during the period.

Key Details

• Total Revenue (12-month period ended March 31, 2025): $1,242,529 (vs. $1,554,062 for the 15-month period ended March 31, 2024), representing a 20% decrease.
• Verification Fee Revenue (12-month period): $1,198,377 (vs. $1,204,267 for the 15-month period), a nominal decrease of 0.49%.
• Comparable Verification Fee Revenue: On a comparable 12-month basis (ending March 31, 2024), verification revenue was $975,235, representing a 23% increase ($223,142) for the current period.
• Operating Expenses (12-month period): $3,830,740 (vs. $5,120,493 for the 15-month period), a decrease of 25% ($1,289,753).
• Cost of Processing and Services: $331,797 (vs. $318,904), an increase of 4% driven by higher transaction volumes and cloud platform fees. Comparable 12-month cost was $241,348.
• Bad Debts and Loan Impairment: $1,622 (vs. $69,895), a 98% decrease due to lower loan loss provisions for the inactive Fast-Track loan program. Comparable 12-month cost was $43,408.
• Consulting Fees: $563,297 (vs. $798,510), a 29% decrease related to external consultants. Comparable 12-month cost was $643,327.
• Investor Relations Expense: $97,542 (vs. $154,049), a 37% decrease. Comparable 12-month cost was $127,573.
• Marketing Expenses: $108,554 (vs. $259,062), a 58% decrease due to the discontinuation of Accumulate.ai operations. Comparable 12-month cost was $243,573.
• Professional Fees: $154,433 (vs. $318,228), a 51% decrease related to legal and audit fees. Comparable 12-month cost was $220,735.
• Salaries and Benefits: $1,266,735 (vs. $1,789,232), a 29% decrease due to employee reductions. Comparable 12-month expense was $1,358,554.
• Software and Platform Technology Services: $291,902 (vs. $454,501), a 36% decrease. Comparable 12-month expense was $325,155.
• Q1 2025 Revenue: $285,273 (vs. $293,663 in Q1 2024), a 3% decrease due to discontinued products.
• Q1 2025 Verification Fee Revenue: $278,998 (vs. $267,931 in Q1 2024), a 4% increase driven by higher transaction volumes.
• Q1 2025 Operating Expenses: $1,050,896 (vs. $1,101,948 in Q1 2024), a 5% decrease.
• Q1 2025 Cost of Processing: $79,261 (vs. $59,023), a 34% increase.
• Q1 2025 Bad Debt Reversal: $29,509 (vs. $11,434 loss), due to lower provisions and recovery of written-off loans.
• Q1 2025 Software and Platform Services: $136,943 (vs. $67,534), a 103% increase due to data science initiatives.
• Debt Settlement: The company settled $1.35M in debt for shares.

Notable Quotes

• "This past year demonstrated the power of staying focused on what we do best. We achieved 23% growth in verification fee revenue and reduced operating expenses by 25%-clear proof that our AI-driven platform is both gaining market traction and scaling efficiently. By streamlining our business, exiting non-core initiatives, and doubling down on data enrichment, we've set the stage for sustainable, high-margin growth. These results reaffirm our belief that financial discipline and product excellence are the cornerstones of long-term value creation." — Karim Nanji, CEO, Inverite Insights.