Nixxy, Inc. Q2 FY2022 earnings call

• Revenue grew 62% year-over-year to $7.11 million, with software platform and on-demand services driving growth. - Gross profit margin expanded to 41.2% from 32.8% the prior year. - Total operating expenses increased but were reduced 22% sequentially. - Began capitalizing product development in Q2, investing over $750,000. - On-demand recruiting services and software platform now account for over 80% of revenue. - Small self-service and enterprise clients increased spend in Q2. - Healthcare now represents 19% of revenue, with a solid pipeline.

The software platform grew year-over-year by 393% and sequentially by 14%. The on-demand services business grew year-over-year by 160% and sequentially by 11%. These two segments collectively represent more than 80% of the company's revenue. GAAP revenue for the second quarter of 2022 was $7.11 million, with gross profit at $2.9 million and a gross profit margin of 41.2% compared to 32.8% in the prior year.

• Project to cross breakeven and achieve positive adjusted monthly EBITDA in 2022. - Aim to improve cash collections and reduce days sales outstanding from 79 days to 50 days by year-end. - Committed to achieving $30 million in top-line revenue in 2022. - View public company expenses separately, estimating monthly average at $118,000.

Forward-looking statements subject to risks in SEC filings; economic uncertainties; challenges in scaling and market adoption of products.

Q: How are market trends affecting the business, especially international hiring?

A: Hiring from anywhere trend with ~10% of pipeline involving international on-demand recruiting; partnerships with Oyster, Deel help in global talent acquisition.

Q: Any weakness in industry verticals and how addressed?

A: Some sectors like manufacturing, consumer goods hard to shift outside US; tech and financial services seeing more international hiring; partnerships aid in global talent solutions.