Spetz Announces Results for the Year Ended December 31, 2023

TORONTO, ON / ACCESSWIRE / April 29, 2024 / SPETZ INC. (the "Company" or "Spetz") (CSE:SPTZ)(OTC PINK:DBKSF) reported its financial results for the year ended December 31, 2023 ("FY 2023"). All figures in US Dollars.

Highlights:

• Revenue for the fiscal year ended December 31, 2023, increased by 103.7%, reaching US$2.031 million compared to US$0.997 million in the eleven months ended December 31, 2022.
• Adjusted EBITDA loss, as delineated in the management discussion and analysis, decreased by 17.0% to (-US$1.239 million) for the fiscal year ended December 31, 2023, compared to (-US$1.493 million) for the eleven months ended December 31, 2022.

"Influenced by our past challenges, we're now focusing on the promising aspects of our financial results for 2023, which we believe reflect our ongoing efforts and strategic adjustments showcasing a remarkable surge in revenue, effectively doubling our revenues," said Yossi Nevo, CEO, of Spetz Inc. "As previously announced in May 2023, we processed an efficiency plan that has reduced expenses and supported cash flow. These efforts and ongoing initiatives contribute to our commitment to enhanced financial stability. Our dedicated teams continue working diligently to strengthen Spetz's position further."

For full financial information, notes, and management commentary please refer to the Company's Management's Discussion and Analysis (MD&A) and the audited Consolidated Financial Statements as of December 31, 2023, posted on the Company's website and available on SEDAR. All financial information is provided in U.S. dollars, unless otherwise indicated.

Foto: Accesswire

Foto: Accesswire

About Spetz Inc.

Spetz Inc. is a multinational technology company that operates Spetz, a global online, AI-powered marketplace platform that dynamically connects consumers to nearby top-rated service providers in around 30 seconds. Spetz is available in the USA, United Kingdom, Australia, and Israel. The Spetz vision is to reinvent how people around the world connect to services in their moment of need. Connecting them immediately with the top-matched service provider for any need, anytime, anywhere.

Spetz Website: www.spetz.app

Spetz Investor information: https://investor.spetz.app/

Company Contacts:

Ofir Friedman Director and Chief Marketing Officer

Investor Relations