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SA financial tech company posts $1.1M net loss for first quarter, with signs of growth

SABJ Staff
SA financial tech company posts $1.1M net loss for first quarter, with signs of growth

Payment Data Systems Inc., a San Antonio-based electronic payment company, posted a $1.07 million net loss for the first quarter, according to its quarterly earnings report filed May 15 with the U.S. Securities and Exchange Commission. While the company’s net income was essentially flat compared to first quarter 2018, when it posted a net loss of $1.05 million, revenue was up nearly 12.8% year over year, to $6.6 million in the recent quarter from $5.8 million in same quarter a year ago. Payment Data Systems (Nasdaq: PYDS) posted the highest quarterly revenue in its history, President and CEO Louis Hoch told analysts during a conference to discuss its earnings report.