Points International Reports Record Preliminary Full Year 2019 Financial Results

Points Expects to Close the Year with Record Fourth Quarter Gross Profit and Adjusted EBITDA

Strong Momentum Carrying into 2020

Full Q4 & 2019 Financial Results to be Issued on March 4, 2020

TORONTO, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Points International Ltd. (TSX: PTS) (Nasdaq: PCOM) (Points or the Company), the global leader in powering loyalty commerce, is providing a preliminary update on its fourth quarter and full-year 2019 financial results.

Fourth-quarter 2019 gross profit¹ is expected to be between $17.3 and $17.7 million, with adjusted EBITDA² ranging between $6.8 and $7.2 million, each quarterly records. These expected results compare to $14.1 million of gross profit and $5.0 in adjusted EBITDA in the fourth quarter of 2018. 

For the full year, Points expects 2019 gross profit³ to range between $59.2 and $59.6 million, with adjusted EBITDA ranging between $21.1 and $21.5 million, both metrics within the company’s previously issued annual guidance range.

“We are very pleased to have closed out 2019 with an exceptional fourth quarter and expect to report quarterly records in both gross profit and adjusted EBITDA,” said CEO Rob MacLean. “We continue to drive this performance by executing on our three core growth drivers – building robust pipelines and signing new partnerships, up-selling and cross-selling existing partnerships, and driving growth in existing services through advanced data analytics and automated marketing initiatives. To further accelerate growth over the mid-term, we remain focused on additional initiatives to expand into new geographies and verticals, while actively pursuing strategic partnerships or appropriate acquisitions to complement and enhance our already robust capabilities.

“With multiple levers to drive growth and profitability, we look forward to carrying our momentum into 2020 and delivering on our long-term goal of exiting 2022 with gross profit in the high-$90 million range and adjusted EBITDA in the mid-$40 million range.”

Points will report final fourth-quarter and full-year 2019 results and issue its 2020 outlook on March 4, 2020.

_{¹ Gross profit is defined as total revenue less the direct cost of revenue. Gross profit is considered by management to be an integral measure of financial performance and represents the amount of revenues retained by the Company after incurring direct costs. However, gross profit is not a recognized measure of profitability under IFRS.}