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ShiftPixy revenue up in fiscal Q2, net loss narrows

April 15, 2019

Human cloud, hospitality staffing provider ShiftPixy Inc. (NASD: PIXY) reported revenue and gross profit jumped in its fiscal second quarter ended Feb. 28. The Irvine, Calif.-based firm still posted a net loss, though the loss narrowed to $338,530 from $2.7 million in the year-ago quarter.

  Q2 2019 Q2 2018 % change
Net revenue $13,188,263 $7,886,459 67.2%
Gross profit $3,221,027 $879,144 266.4%
Gross margin  24.4% 11.1%  
Net (loss) ($338,531) ($2,718,883) nm

Revenue rose as the number of worksite employees increased to an average of 9,660 from 6,550 in the year-ago quarter.


“Our strong growth continued during the quarter across key financial and operating metrics, and we’re excited about the rapid acceptance of our proprietary platform for workforce engagement and management,” said CEO Scott Absher. “Looking ahead, we anticipate that our rapidly developing technology will further enhance our service offerings and better enable us to meet the needs of our growing assigned workforce and client base as we strive to create shareholder value.”

Share price and market cap

ShiftPixy shares were down 0.83% to $1.19 at 11:10 a.m. Eastern time today; the company had a market cap of $37.28 million, according to FT.com.


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