From GlobeNewswire: 2024-07-30 18:19:00

Hampton Financial Corporation announced its financial results, with Q3 revenues of $2,837,000, a 48% increase year-over-year. Q3 net income was $500,000, compared to a net loss of $(1,023,000) in the same quarter last year. Q3 EBITDA was $305,000, up from $(750,000) in the comparative quarter.

The company’s 3rd quarter results reflect challenges impacting issuer’s ability to finance growth, hindering corporate finance revenues. While 2024 shows signs of improvement, the year ahead for Hampton’s core business remains uncertain. Capital Markets activities are starting to improve as interest rates stabilize, providing hope for a stronger second half of the year.

Hampton is pleased with the Oxygen Working Capital acquisition after two successful post-consolidation months. The integration of this new commercial lending unit into the Hampton group is complete, enhancing Capital Markets offerings with additional funding for early and mid-stage companies. Executive Chairman & CEO Peter Deeb expressed optimism for the fiscal year ahead.

Hampton is a private equity firm focusing on long-term strategic investments in family office, wealth management, and capital markets activities. Through its subsidiary, Oxygen Working Capital Corp., the company offers working capital and financing solutions to small and medium-sized early and mid-stage Canadian companies. Hampton aims to diversify revenue sources through strategic investments in complimentary sectors.

For more information, contact Olga Juravlev, CFO, at (416) 862-8701 or Peter M. Deeb, Executive Chairman & CEO, at (416) 862-8651. The TSXV has not approved or disapproved the contents of this press release. This press release does not constitute an offer to buy or sell securities in the United States or any other jurisdiction. Forward-looking statements in this release are subject to risks and uncertainties beyond the Company’s control.



Read more at GlobeNewswire:: Hampton Financial Corporation Announces 3rd Quarter