ShiftPixy Provides Update on Release of Fiscal Third Quarter 2018 Results
13 July 2018 - 6:30AM
ShiftPixy, Inc. (NASDAQ:PIXY), a disruptive workforce engagement
platform provider, expects to provide a new date for its quarterly
earnings release as soon as possible. For the third quarter
of fiscal 2018, the company expects to report that gross billings
more than doubled to $60.2 million, compared to $27.5 million for
the 2017 third quarter, that revenues increased 102.6% to $9.4
million, compared to $4.6 million for the third quarter of 2017,
that gross profit was $1.5 million versus $0.6 million in the prior
year period, and that net loss per share was 6 cents during the
quarter, an improvement over the net loss of 11 cents in the prior
year period.
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About ShiftPixyShiftPixy
(NASDAQ:PIXY) is a disruptive human capital management platform,
revolutionizing employment in the Gig Economy by delivering a
next-gen mobile engagement technology to help businesses with
shift-based employees navigate regulatory mandates, minimize
administrative burdens and better connect with a ready-for-hire
workforce. With expertise rooted in management's nearly 25 years of
workers' compensation and compliance programs experience, ShiftPixy
adds a needed layer for addressing compliance and continued demands
for equitable employment practices in the growing Gig Economy.
ShiftPixy Cautionary
StatementThe information provided in this release includes
forward-looking statements, the achievement or success of which
involves risks, uncertainties, and assumptions. Although such
forward-looking statements are based upon what management of the
Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate. If any of the risks or uncertainties, including those set
forth below, materialize or if any of the assumptions proves
incorrect, the results of ShiftPixy, Inc., could differ materially
from the results expressed or implied by the forward-looking
statements we make. The risks and uncertainties include, but
are not limited to, risks associated with the nature of our
business model; our ability to execute the Company's vision and
growth strategy; our ability to attract and retain clients; our
ability to assess and manage risks; changes in the law that affect
our business and our ability to respond to such changes and
incorporate them into our business model, as necessary; our ability
to insure against and otherwise effectively manage risks that
affect our business; competition; reliance on third-party systems
and software; our ability to protect and maintain our intellectual
property; and general developments in the economy and financial
markets. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change, except as required by
applicable securities laws. The information in this press
release shall not be deemed to be "filed" for the purpose of
Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that section, and will not
be deemed an admission as to the materiality of any information
that is required to be disclosed solely by Regulation FD.
Further information on these and other factors that could
affect the financial results of ShiftPixy, Inc., is included in the
filings on Forms 1-A and 10-K and in other filings we make with the
Securities and Exchange Commission from time to time. These
documents are available on the "SEC Filings" subsection of the
"Investor Information" section of our website at
https://ir.shiftpixy.com/financial-information/sec-filings.
Consistent with the SEC’s April 2013 guidance on
using social media outlets like Facebook and Twitter to make
corporate disclosures and announce key information in compliance
with Regulation FD, ShiftPixy is alerting investors and other
members of the general public that ShiftPixy will provide updates
on operations and progress required to be disclosed under
Regulation FD through its social media on Facebook, Twitter,
LinkedIn and YouTube. Investors, potential investors, shareholders
and individuals interested in our Company are encouraged to keep
informed by following us on Facebook, Twitter, LinkedIn and
YouTube.
Contact: Clark
Wilsonclark.wilson@shiftpixy.com(949)245-7250
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