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May 29, 2026 4:20 PM

Clip Money Inc. Reports First Quarter 2026 Results

TORONTO, May 29, 2026 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSXV:CLIP) ("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 March 31, 2026. The Company reported continued revenue growth in the first quarter of 2026, up 81% from Q1 2025, while cost of revenues were up only 36% during the same time period, maintaining high operating leverage into the new year.

First Quarter Financial 2026 Highlights:

Revenue for the first quarter of 2026 ("Q1 2026") was $1,763,180, compared to $972,706 in the first quarter of 2025 ("Q1 2025"), which equates to 81% growth year-over-year ("YoY"). Q1 2026 revenue decreased 11% quarter-over-quarter ("QoQ") compared to the fourth quarter of 2025 ("Q4 2025"), which was heavily impacted by Q4 seasonality from holiday shopping. Excluding the impact of seasonality, revenue grew 19% QoQ.

Revenue growth continues to outpace changes in Costs of Revenue ("COR"). Q1 2026 COR of $1,369,873 was up 36% YoY, relative to 81% YoY revenue growth.

Year-over-Year (YoY) revenue growth for Q1 2026 was primarily fueled by a 129% increase in new deposit users and a 5% increase in revenue per user. This deposit revenue expansion was further supported by strong contributions from new Clip products, such as ClipChange, which saw a 164% increase in YoY revenue.

Operating expenses for Q1 2026 were $1,878,472, compared to $1,832,196 in Q1 2025, which represents a 2% YoY increase. Q1 2026 operating expenses were 3% higher QoQ compared to Q4 2025. Net loss for Q1 2026 was $2,360,616, compared to $2,280,281 in Q1 2025, which represents an increase of 4% YoY.

Network & Customer Highlights:

Clip Money's multi-channel network has demonstrated the convenience and value for businesses compared to traditional bank branch or legacy management options. 10% of Clip customers are now using multiple Clip deposit channels as they realize the ease of use and locational convenience of the 8000+ Clip locations nationwide. Proximity analysis shows that over 85% of prospective Clip customer stores are within five miles of ...

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