Global technology and value-added solutions group Net
Element (NASDAQ: NETE) recently announced its financial results for the third
quarter ended September 30, 2018 and provided an update on its strategic and
operational initiatives. According to the update, the company’s net revenues
were approximately $17.2 million for the three months ended September 30, 2018,
up from approximately $14.9 million for the prior year. NETE attributes the
increase as primarily driven by a growth in net revenues of approximately 19
percent, or $2.5 million, from its North American Transaction Solutions segment
due to its acquisition of a transactional services portfolio and organic
growth. The company hosted a conference call and live webcast on November 15,
2018 to discuss financial results and business highlights, and the recorded
replay is available on the company’s website.
“We are pleased with our performance in the third quarter
and the nine months period as we continue to deliver double digit net revenue
growth with improved gross margin performance, underscoring the ongoing
execution of our technology enabled, value-added strategy,” Net Element CEO
Oleg Firer stated in the news release. “We continue to take steps that will
enhance our long-term performance as we remain focused on growth and building
value for our shareholders.”
To view the full press release, visit http://ibn.fm/LFLKY
About Net Element
Net Element, Inc. (NASDAQ: NETE) operates a
payments-as-a-service transactional and value-added services platform for small
to medium enterprise (“SME”) in the U.S. and selected emerging markets. In the
U.S., it aims to grow transactional revenue by innovating SME productivity
services using blockchain technology solutions and Aptito, the company’s cloud
based, restaurant and retail point-of-sale solution. Internationally, Net
Element’s strategy is to leverage its omni-channel platform to deliver flexible
offerings to emerging markets with diverse banking, regulatory and demographic
conditions. Net Element was ranked as one of the fastest growing companies in
North America on Deloitte’s 2017 Technology Fast 500. In 2017, Net Element was
recognized by South Florida Business Journal’s as one of 2016’s fastest growing
technology companies. Further information is available at www.NetElement.com
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