TORONTO, Aug. 25, 2025 (GLOBE NEWSWIRE) — Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce its financial results for the three months ended June 30, 2025. The Company reported continued revenue growth in the second quarter of 2025, up 248% from Q2 2024, while cost of revenues were up only 60% during the same time period, maintaining the Company’s high operating leverage.
Second Quarter Financial 2025 Highlights:
- Revenue for the second quarter of 2025 (“Q2 2025”) was $1,349,587, compared to $387,955 in the second quarter of 2024 (“Q2 2024”), which equates to 248% growth year-over-year (“YoY”). Q2 2025 revenue was up 39% quarter-over-quarter (“QoQ”) compared to the first quarter of 2025 (“Q1 2025”), which was a function of new sales growth, one-time implementation fees and growth of new products. Excluding the impact of seasonality, revenue grew 31% QoQ.
- Revenue growth continues to outpace changes in Costs of Revenue (“CoR”). Q2 2025 CoR of $1,147,057 was up 60% YoY, relative to 248% YoY revenue growth.
- YoY revenue growth for Q2 2025 was driven by a 169% increase in new deposit users, and supported by contributions from new products, namely revenue from change orders and implementation fees. Revenue from new products, excluding non-recurring items, accounted for 13% of total revenue in Q2 2025 and 7% in Q2 2024.
- Operating expenses for Q2 2025 were $1,719,300 compared to $1,713,968 in Q2 2024, which represents a 1% YoY increase. Q2 2025 operating expenses were 6% lower QoQ compared to Q1 2025. Comprehensive loss for Q2 2025 was $2,427,185, compared to $2,548,297 in Q2 2024, which represents an improvement of 5% YoY.
- On July 18, 2025, the Company closed (i) a non-brokered private placement of an unsecured convertible note for aggregate gross proceeds of US$3,000,000 from Cardtronics Inc., a subsidiary of NCR Atleos Corporation and (ii) a non-brokered private placement of 6,876,500 common shares (“Common Shares”) at a price of CAD$0.20 per Common Share for gross proceeds of US$1,000,000.
Network & Customer Highlights:
- Network Expansion
- Clip Money continued the expansion of its U.S. business deposit network. In partnership with Green Dot, the Company launched ClipCenter in Q2 2025, with full activation of the network set for Q3. This rollout adds more than 4,000 over-the-counter deposit locations at participating big-box retail stores, cementing Clip Money as the largest and most convenient business deposit network in the United States, now spanning 8,500 in total locations across ClipDrop and ClipATM and ClipCenter.
- In Q2 2025, Clip Money also expanded its leading shopping center network to 483 ClipDrop deposit units, adding 25 new shopping center locations during the quarter.
- Customer Growth
- Organic growth drove the addition of 294 new users in Q2. Many of these came through adoption at newly deployed mall locations with existing Clip customers, demonstrating the strong pull of Clip Money’s network and the unmatched value Clip Money is bringing to their clients.
- Clip Money also welcomed several new strategic retailers to the Clip customer base this quarter, including Earthbound Trading Company, Tumi and a nationwide eyecare customer, further diversifying and strengthening its customer base. Through Clip’s convenient, multi-channel network of deposit options, several clients are now leveraging the full breadth of the Clip Money Network—including both ClipATM and ClipCenter. Depending on the depositors location, Clip now provides access to a wide range of convenient deposit options located near their offices creating efficiency across their operations.
- Complementing this growth, ClipChange reached a major milestone—delivering over 8,000 change orders since its launch in 2024. ClipChange provides businesses with secure, conveniently delivered packages of notes and coins for daily operations. By eliminating trips to the bank branch, employees can stay focused on serving customers in-store while maintaining smooth cash operations.
“Q2 was a pivotal quarter of operational execution for Clip Money. Together with Green Dot, we brought Clip cash deposit services to over 4000 big-box retail stores locations, expanding our network reach and unlocking a new channel for business deposits. This expansion delivers a unique customer experience and provides businesses with unparalleled access and convenience compared to traditional deposit methods. We also continued to grow our customer base, and now have customers actively using all three of our deposit solutions—ClipDrop, ClipATM, and ClipCenter—demonstrating the strength and versatility of the Clip Money Network. Importantly, this operational momentum translated into strong financial performance, with revenue growing 248% year-over-year and 39% quarter-over-quarter in Q2, outpacing growth in our costs of revenue”
Joseph Arrage (CEO & Co-Founder)
Additional Information
The Company’s interim condensed consolidated financial statements, notes to financial statements, and management’s discussion and analysis for the three months ended June 30, 2025 are available on the Company’s SEDAR+ profile at http://www.sedarplus.ca. Unless otherwise indicated, all references to “$” in this press release refer to U.S. dollars.
Forward‐Looking Statements
This news release may contain forward‐looking statements (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. Forward-looking statements are identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the future success of the Company’s business.
The forward-looking statements in this news release are based on certain assumptions. The forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Clip Money Inc.
Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box or ClipATM located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit http://www.clipmoney.com.
For further information, please contact:
Joseph Arrage
Chief Executive Officer
tel: 844-593-2547
