Janover Inc. Provides Business Update for the Second Quarter of 2023
05 9월 2023 - 8:30PM
Janover Inc. (Nasdaq: JNVR) (“Janover” or
the “Company”), an AI-enabled, B2B fintech marketplace connecting
commercial property borrowers and lenders with a human touch, today
provided a business update for the quarter ended June 30, 2023.
Blake Janover, CEO of Janover, stated, “On July
25, 2023, we achieved historic milestones for our Company by
completing an IPO onto the Nasdaq Stock Market and concurrently
raising over $5 million. This was a direct result of
intensive analysis, planning and hard work by our leadership team
and Board of Directors.”
Mr. Janover continued, “Despite industry-wide
challenges and management’s focus on our IPO, we performed well
during the second quarter of 2023, with second quarter 2023 revenue
increasing to $602 thousand, a 29 percent sequential increase
compared to the first quarter of 2023. Although we
experienced a modest decline over the second quarter of 2022, we
believe we outperformed the broader market by a significant margin,
which we believe reflects the efficacy of our business model and
the inherent ability of our platform to capitalize on the
volatility in the market. It is also important to note that the
second quarter of 2022 included a single transaction that
significantly lifted revenue. Excluding this loan, our base
business would have also increased on a year-over-year basis.
Looking ahead and with the IPO behind us, we aim to secure more of
these larger transactions going forward. Moreover, our
revenue per transaction increased by 48.9 percent. This was a
direct result of an increase in the average loan size, which is a
testament to our ability to continue to execute on our strategy,
supported by a best-in-class digital platform.”
Further reiterating its mission to make
commercial lending frictionless for both borrowers and lenders, Mr.
Janover added, “Our strategy remains focused around building an
all-star team to execute on our key initiatives including scaling
our AI, enhancing our marketplace for borrowers and lenders, and
continuing to provide best-in-class educational content across our
ecosystem of websites to drive our best-in-class SEO and resulting
organic traffic.”
With the IPO completed, Mr. Janover noted that
Company’s and its management’s efforts were now focused on
long-term shareholder value, revenue growth and continuing to scale
its technology, specifically its AI, with an emphasis on its most
profitable cohorts of customers. Mr. Janover concluded, “Our focus
is delivering long-term shareholder value via delivering
cost-effective value throughout our entire ecosystem to all
stakeholders. Through the implementation of generative AI and our
digital platform, we have maintained a lean, scalable and high
gross-margin infrastructure.”
The complete financial results for the quarter
ended June 30, 2023, are now available in the Company’s Form 10-Q,
which has been filed with the Securities and Exchange Commission
and is available at: www.sec.gov.
About Janover Inc.
Janover is a B2B fintech marketplace connecting
commercial property borrowers and lenders with a human touch. The
Company seeks to revolutionize the commercial real estate lending
market by making it hyper-efficient, transparent, and accessible to
all rather than the few. Through the Company’s online
platform, it provides technology that connects commercial mortgage
borrowers looking for capital to refinance, build, or purchase
commercial property, including, but not limited to, apartment
buildings, to commercial property lenders. Borrowers include, but
are not limited to, owners, operators, and developers of commercial
real estate including multifamily properties and most recently, a
growing segment of small business owners, which Janover believes
represents a significant growth opportunity. Lenders include small
banks, credit unions, REITs, Fannie Mae® and Freddie Mac®
multifamily lenders, FHA® multifamily lenders, debt funds, CMBS
lenders, SBA lenders, and more. Additional information about the
Company is available at: https://janover.co/.
Forward-Looking Statements
This press release contains forward-looking
statements regarding the Company’s current expectations. These
forward-looking statements include, without limitation, references
to the Company’s expectations regarding the closing of the public
offering and its anticipated use of net proceeds from the offering.
These statements are not guarantees of future performance and are
subject to certain risks, uncertainties and assumptions that are
difficult to predict. Factors that could cause actual results to
differ include, but are not limited to, risks and uncertainties
related to the satisfaction of customary closing conditions related
to the public offering, or factors that result in changes to the
Company's anticipated use of proceeds. Our actual results and
financial condition may differ materially from those indicated in
the forward-looking statements. Therefore, you should not rely on
any of these forward-looking statements. Important factors that
could cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements.
These and other risks and uncertainties are described more fully in
the section captioned "Risk Factors" in the Company’s Registration
Statement on Form S-1 related to the public offering (SEC File No.
File No. 333-267907). As a result of these matters, changes in
facts, assumptions not being realized or other circumstances, the
Company's actual results may differ materially from the expected
results discussed in the forward-looking statements contained in
this press release. Forward-looking statements contained in this
announcement are made as of this date, and the Company undertakes
no duty to update such information except as required under
applicable law.
Contact:Crescendo
Communications, LLCTel: 212-671-1020Email:
jnvr@crescendo-ir.com
Janover (NASDAQ:JNVR)
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