TORONTO, May 30, 2024 (GLOBE NEWSWIRE) -- Clip Money, Inc. ("Clip" or "Company") (TSXV:CLIP) (OTCQB:CLPMF), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce its financial results for the three months ended March 31, 2024. First Quarter 2024 Highlights Revenue for Q1 2024 was $299,176, compared to $31,465 in Q1 2023, representing a more than 850% year-over-year ("YoY") growth. This growth was fueled by a more than 821% increase in new users making deposits, combined with revenue from new products. Conversely, Cost of Goods Sold ("COGS") increased by 32% YoY, demonstrating the ability for the solution to scale with customer and revenue growth. Customer retention and expansion of new stores from existing customers has been a consistent theme for the Company following a record-breaking Q4 2023. In Q1 2024, five of Clip's largest customers added locations–a testament to the value and exceptional level of service and experience delivered through the Clip network. In addition, Clip welcomed new customer brands to the platform in Q1'24 with initial store rollouts at a national jewelry retailer, a children's entertainment services provider with hundreds of locations, and a large national retailer with over 1,000 stores across the U.S. and Canada. As previously announced, Clip also partnered with The ...