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QUISITIVE Quisitive Reports Second Quarter 2021 Financial Results Company Announces Record Quarter as it Activates its Payments Solution Business TORONTO , Aug. 30 , 2021 ( GLOBE NEWSWIRE ) -- Quisitive Technology Solutions Inc. ( “ Quisitive " or the " Company " ) ( TSXV : QUIS ) , a premier Microsoft Cloud Services and Payment Solutions Provider , today reported financial results for the second quarter ended June 30 , 2021 . Management Commentary " The second quarter was a consecutive period of gained momentum as we continue to invest in the future of our business through focused growth initiatives and accomplishing key milestones within our payments solutions business , " said Quisitive CEO Mike Reinhart . " With the completed bank sponsorship , the current integration of BankCard into our back - end systems , and the achievement of PCI certification , we are making significant progress towards the full commercialization of LedgerPay . We have a growing pipeline of prospective customers that are spread across the grocery chain segment , fuel stations , multi- chain restaurant franchises , convenience store chains , and ISVs . In parallel with the growth from our payments division , we are also experiencing productive headway across our cloud solutions and M & A front . We have a multitude of potential acquisition targets that have proactively approached us due to the progress we've made , the trajectory we're headed towards , and our robust position as a Microsoft cloud leader . Our multi - pronged approach of organic growth within the two segments of our business , paired with an inorganic strategy will prime us for greater topline results and an expanded market footprint as a global Microsoft partner . " Second Quarter 2021 Financial Results The Company's unaudited condensed consolidated interim financial statements for three and six months ended June 30 , 2021 and related management's discussion and analysis can be found on the Company's website and on the Company's issuer profile on SEDAR at www.sedar.com . All figures are expressed in United States dollars unless otherwise stated . • Second quarter revenue increased 75 % to $ 23.0 million compared to $ 13.1 million , for the quarter ended June 30 , 2021 . • Gross margin increased 48 % to $ 8.3 million compared to $ 5.6 million , for the quarter ended June 30 , 2021 . • Adjusted EBITDA increased 29 % to $ 3.6 million compared to an Adjusted EBITDA of $ 2.8 million , for the three months ended June 30 , 2021 . • Net loss was $ 2.9 million compared with net loss of $ 5.7 million , for the three months ended June 30 , 2021 . Second Quarter 2021 and Subsequent Operational Highlights • Achieved PCI - DSS Certification for demonstrating LedgerPay's robust security protocols and commitment to customer information security . • Achieved Independent Standards Organization 27001 and 22301 certifications for LedgerPay . • Recognized as the 2021 Microsoft Healthcare Partner of the Year award above a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology . • Achieved the Microsoft Business Applications 2021/2022 Inner Circle Award based on sales achievements that rank Quisitive in the top echelon of the Microsoft Business Applications global network of partners . • Completed acquisition of Mazik Global Inc. Announced the closing of C $ 62.6 million equity financing transaction in connection with the acquisition of BankCard USA Merchant Services , Inc. and increased the debt facility with Canadian Schedule 1 Charter Bank by $ 50 million USD . • Completed the transformational acquisition of BankCard USA . • Received patent approval its payment security solution , AgeChecker . Signed a long term $ 70 million term credit facility with syndicate led by Bank of Montreal and including Desjardins Capital Markets replacing existing credit facility with a Canadian Schedule 1 bank . • Selected as Omnitracs Microsoft Office 365 tenant - tenant migration provider . • • Achieved the Microsoft Adoption and Change Management Advanced Specialization , a prestigious status that is only granted to select Microsoft partners who demonstrate deep knowledge and extensive experience . Announced election of Laurie Goldberg to Board of Directors , effective June 28 , 2021 . Acquired and closed bank sponsorship with The Bancorp Bank for LedgerPay payment processing . Announced proceeds of $ 12 million from warrant exercises . Conference Call Quisitive management will hold a conference call today ( August 30 , 2021 ) at 4:30 p.m. Eastern time ( 1:30 p.m. Pacific time ) to discuss these results . Company CEO Mike Reinhart and CFO Michael Murphy will host the call , followed by a question and answer period . Canada / U.S . dial - in : 1-800-319-4610