{"id":492418,"date":"2021-05-12T16:11:47","date_gmt":"2021-05-12T20:11:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/points-international-reports-first-quarter-2021-results\/"},"modified":"2021-05-12T16:11:47","modified_gmt":"2021-05-12T20:11:47","slug":"points-international-reports-first-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/points-international-reports-first-quarter-2021-results\/","title":{"rendered":"Points International Reports First Quarter 2021 Results"},"content":{"rendered":"
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\n – Continued Operational Resilience Drives Second Consecutive Quarter of Sequential Revenue, Gross Profit and Adjusted EBITDA Growth –
<\/em>
\n – Strong Quarter of New and Expanded Partnership Activity –<\/em>\n <\/p>\n

TORONTO, May 12, 2021 (GLOBE NEWSWIRE) — Points International Ltd. (TSX: PTS) (Nasdaq: PCOM) (Points or the Company), the global leader in powering loyalty commerce, is reporting financial results for the first quarter ended March 31, 2021.<\/p>\n

Unless otherwise noted, all amounts are in USD. The complete first quarter Condensed Consolidated Interim Financial Statements and Management\u2019s Discussion & Analysis are available at www.sedar.com<\/u><\/a> and www.sec.gov<\/u><\/a>.<\/p>\n

\u201cOur first quarter results represent our best quarterly performance since the onset of the pandemic,\u201d said Rob MacLean, CEO of Points. \u201cWe drove continued sequential improvements across revenue and gross profit, as well as significant Adjusted EBITDA expansion. Further, our recent equity offering has bolstered our strong liquidity position, giving us additional flexibility as we execute on our growth drivers throughout the year. As the broader travel and hospitality industry works towards recovery, we are seeing increased consumer confidence and pent-up travel demand which is driving improved performance across our products and services. These positive trends are strengthening our confidence in the important role loyalty programs will play in the coming years of growth in travel and hospitality.<\/p>\n

\u201cBuilding on our pipeline momentum in 2020, we have continued to execute on our core growth drivers so far in 2021. We expanded our relationships with several existing partnerships, including additional deployments of our new Subscription and Accelerate Anything services, both of which have generated strong partner interest during the pandemic. In addition, we have continued to develop new relationships and deepened our presence in the growing Middle East travel market.\u201d<\/p>\n

Mr. MacLean concluded: \u201cAs we look to the rest of 2021, the progress we have seen over the past 2 quarters provides us with confidence that the initial stages of the travel recovery are underway. We will continue to execute on our growth drivers and support our partners as we accelerate our performance in the coming quarters of recovery. Points has demonstrated tremendous resilience throughout the pandemic, and I am proud of our team\u2019s commitment and effort as we emerge from the past year as an even stronger organization.\u201d<\/p>\n

\n First Quarter 2021 Financial Highlights<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nFor the three months ended<\/td>\n<\/tr>\n
\n (in millions USD)<\/em>\n <\/td>\n\n March 31, 2021<\/strong>
\n
\n
\n <\/strong>\n <\/td>\n		December 31, 2020<\/td>\nMarch 31, 2020<\/td>\n<\/tr>\n
Total Revenue<\/td>\n\n $<\/strong>
\n 65.0<\/strong>\n <\/td>\n		$56.4<\/td>\n$82.7<\/td>\n<\/tr>\n
Gross Profit<\/td>\n\n $<\/strong>
\n 9.0 <\/strong>\n <\/td>\n		$8.5<\/td>\n$13.8<\/td>\n<\/tr>\n
Total Operating Expenses<\/td>\n\n $<\/strong>
\n 10.2<\/strong>\n <\/td>\n		$9.9<\/td>\n$12.5<\/td>\n<\/tr>\n
Net Income\/(Loss)<\/td>\n\n ($<\/strong>
\n 1.1<\/strong>
\n )<\/strong>\n <\/td>\n		($0.7)<\/td>\n$1.1<\/td>\n<\/tr>\n
Adjusted EBITDA1<\/sup><\/td>\n\n $<\/strong>
\n 1.2<\/strong>\n <\/td>\n		$0.4<\/td>\n$3.6<\/td>\n<\/tr>\n<\/table>\n