The growth stemmed from the acquisition of healthcare specialist Mazik Global in April 2021 and Austin, Texas-based Dynamics VAR Catapult Systems in November. The loss dropped to $1.5 million for the most recently ended period, down from $1.92 million a year earlier. Revenue of $44.9 million was up from $12.6 million in last year’s corresponding period. Quisitive’s global cloud segment, which includes the Dynamics operations, had first-quarter revenue of $33.8 million, up sharply from $12.2 million a year earlier. Much of this week’s earning centered on questions from analyst about the other major business segment, Global Payments Solutions, whose revenue increased to $11.2 million from about $400,000 in the quarter ended March 31, 2021.A good deal of corporate effort has been going into getting approval from Visa and MasterCard for payment processing. CEO Mike Reinhart said during the webcast the company will continue to seek growth through acquisitions, although now is currently now a good time buying another operation.
Estimated reading time: 0 minutes, 58 seconds
QUISITIVE 1Q SOARS ON M&A Featured
Quisitive Technology Solutions, a Dynamics reseller based in Toronto, Ont., report revenue growth of 258.8 percent for the first quarter ended March 31. That came as the company this week showed a 21.9-percent decline in its loss for the first quarter ended March 31.