Business Warrior Corporation (BZWR) Announces Quarterly Growth and Early Success with PayPlan

PHOENIX, July 18, 2023 (GLOBE NEWSWIRE) -- Business Warrior Corporation (OTC: BZWR), the source for cloud-based lending solutions designed to fuel sustainable business growth, has announced its financial results for the quarter ending May 31, 2023. The Company displayed a 3.8% quarter-over-quarter revenue growth, coupled with a substantial reduction in expenses during the same period. Notably, the Company reports a remarkable revenue increase from its recently launched signature product, PayPlan, which generated $121,250 in the quarter, a sharp rise from the $5,000 in the previous quarter. PayPlan is a key focus of growth for the Company.

For the nine months ended May 31, 2023, the Company demonstrated a solid performance with revenue of $3,243,742, marking a significant 33% increase compared to the nine months ended May 31, 2022. Concurrently, operating expenses decreased by 30%. This marks the second consecutive quarter of significant reductions in operating expenses and now alongside revenue growth. The Company forecasts that operating expenses will stabilize in every area except for advertising and promotion, which are intended to grow sales. The decrease in expenses and revenues climbing sets a strong financial road ahead and forms a cornerstone of the Company's plan to gain market share and reach profitability.

The most substantial area of expected growth lies within the Company's PayPlan product, which will be the primary focus of advertising investment moving forward. The quarterly revenue growth demonstrated by PayPlan showcases the promising progress of its strategy.

Positive Trends In The Company’s SaaS Business Model
Business Warrior reported $910,719 in revenue for the quarter, which marked a decrease compared to $1,227,007 in the same period of 2022, but an increase from the previous quarter. This reduction was primarily due to a 12-month contract with a substantial client that expired in December of 2022, which accounted for $704,545 of the revenue in the third quarter of 2022. The new business model adopted by the Company mitigates the risk associated with large one-time projects or over-reliance on a single customer. The Company is proud to highlight that it did not have one client representing over 15% of revenues in the current quarter, a substantial improvement from the previous year.