ShiftPixy revenue up 51% in fiscal Q1, but net loss edges higher

ShiftPixy Inc. (NASDAQ: PIXY) — which earlier this month announced the sales of its PEO business — reported revenue rose 50.8% in its fiscal first quarter ended Nov. 30, according to a filing on Tuesday with the US Securities and Exchange Commission.

The Irvine, California-based firm reported gross margin narrowed and net loss edged higher.

(US$ thousands) Q1 2020 Q1 2019 % change
Net revenue $15,866 $10,520 50.8%
Gross profit $3,314 $3,386 -2.1%
Gross margin 20.9% 32.2%
Net loss ($2,556) ($2,246) nm
ShiftPixy’s PEO operations represented 60% of its business, and the sale was announced Jan. 9 after the close of the first quarter. The company said it plans to focus on its staffing/technology model serving the quick-service restaurant and staffing industries. The company had also, in December, conducted a one-for-40 reverse stock split.

In Tuesday’s SEC filing, ShiftPixy reported that first-quarter revenue rose because of an increased number of worksite employees. Average billed employees increased 44% over fiscal 2019 and the average revenue per worksite employee rose approximately 6%.

Share price and market cap
Shares in ShiftPixy were down 2.14% to $15.17 as of 11:44 a.m. Eastern time; the company had a market cap of $14.18 million, according to FT.com.

KEYWORDS: Staffing analytics,Revenue analytics,Predictive staffing,Predictive Recruiting,Business Intelligence for Staffing,Business Intelligence for Recruiters,Business Intelligence Dashboard,Revenue Intelligence Dashboard,Analytics for staffing industry,Data analytics for staffing industry,Big data for staffing industry,Dashboard BI,BI Tool for staffing,BI Reporting Tool,Data Analytics Reporting Tool,BI Dashboard,Metrics and KPI,Data Analytics,Big Data,Why is Data Analytics important,Big data software for staffing industry,Alternative to Microsoft Power BI,Sales Analytics,Performance analytics,Visual report generator
Inside sales management,Effectiveness and efficiency,Effectiveness vs efficiency,Sales Dashboard,Forecasting tool,Win rate calculator,Hire rate calculator,Grow company,Staffing Metrics,Hiring Metrics