Featuring $109 Million in Revenue and Launch of Business Hub in Canada
Toronto, Ontario--(Newsfile Corp. - April 3, 2023) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative AI service provider and operator of the Business Hub, today announced its financial results for the year ended December 31, 2022. The Company reported revenues of $109.87 million, a negative adjusted EBITDA of $6.88 million and a net loss of $53.0 million for the year. All amounts in this news release are in Canadian dollars unless otherwise indicated.
"One of our biggest achievements in 2022 was the launch of our Business Hub in Canada," said Johnson Joseph, CEO of Tenet. "This milestone marks the start of a new era for the Company, one in which Tenet expects to begin showcasing the true value of the data it is collecting and will collect in the future from SMEs in Canada, in China, and eventually from SMEs around the world. We also took significant strides towards the strategic diversification of our revenue streams in China to manage our way through COVID-19 restrictions over the past year."
2022 Financial Highlights
- Total Revenue of $109.87 million
- Adjusted EBITDA of ($6.88 million)
- Net Loss of ($53 million)
Summary of Key Financial Metrics from 2019-2022
