TORONTO, Aug. 16, 2022 (GLOBE NEWSWIRE) — Flow Capital Corp. (TSXV:FW) (“Flow Capital” and “Company”), a leading provider of flexible growth capital and alternative debt solutions, announces its unaudited financial and operating results for the quarter ending June 30, 2022 (“Q2 2022”). Financial references are in Canadian dollars unless otherwise specified.
Q2 2022 Highlights
- Recurring Revenue of $2.09 million in Q2, the highest recurring quarterly revenue from investments over the past 4-years.
- Adjusted Recurring Free Cash Flow1 of nearly $1 million in Q2; $1.6 million YTD and $2.1 million over four-quarters.
- Total assets of approximately $51 million compared to $44 million at YE 2021.
- Cash of $8.8 million compared to $4.1 million at YE 2021.
- Book Value ~$0.91 per share; up 22.4% YTD.
“In spite of the volatile capital markets backdrop and recessionary economic environment we all find ourselves in, we have again posted strong quarterly results” said Alex Baluta, CEO of Flow Capital. “Our performance in Q2 represents the resiliency of the recurring revenue business model we have adopted over the past several years, as well as the book value upside that can be generated from the realization of potential equity gains that are embedded in our portfolio”, he continued.
Flow Capital continues to focus its efforts on originating and investing in high growth companies looking to fuel expansion without the excessive and expensive dilution of equity, or…
