Boca Raton, FL, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today provided an update on its wholly-owned subsidiary Groundbreaker Tech Inc. (“Groundbreaker”), its recurring revenue B2B Software-as-a-Service (“SaaS”) platform for multifamily and commercial real estate syndicators. Janover, which acquired Groundbreaker in November 2023, reports that this new business line achieved profitability for the second consecutive month in June 2024 since the acquisition, reflecting a sequential monthly increase in its operating margins by more than 100%, increasing from approximately 30% to 64%.
Blake Janover, CEO of Janover, stated, “We are delighted with Groundbreaker’s performance. Since the acquisition, the integration has gone better than expected and the credit is due entirely to our collective team. As a business line, it achieved profitability for the second consecutive month, and the future looks bright. This significant improvement in operating margins demonstrates Groundbreaker's growing efficiency. Our plan for Groundbreaker is to remain profitable and to deliver healthy cashflow throughout the remainder of the year. The integration of Groundbreaker has been a very positive experience from a technical perspective as well. We’ve been able to release updates and improvements to the platform while integrating across various touchpoints in our respective ecosystems. We are committed to expanding our portfolio of products with profitable, subscription and recurring revenue solutions that our clients want and need. We are excited for our continued growth in concert with Groundbreaker and look forward to driving value to our customers by building a comprehensive, tech enabled platform that they love.”
Groundbreaker is a specialized SaaS platform designed to simplify capital raising and investment administration for multifamily and commercial real estate syndicators. By offering an intuitive platform at groundbreaker.co, it enables real estate professionals to quickly create an investor portal and efficiently manage equity capital raising, investor relations, and document sharing; fostering a seamless and professional investment experience for all involved in the transaction. The platform also facilitates secure financial transactions and offers robust customer relationship management tools, aiming to enhance transparency and engagement between the real estate syndicators and their investors.
About Janover Inc.
Janover is an AI-enabled platform for commercial real estate transactions. 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/.
To view the latest investor presentation, please visit https://ir.janover.co/.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. 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 include, among others, the following: (i) the effect of and uncertainties related the ongoing volatility in interest rates; (ii) our ability to achieve and maintain profitability in the future; (iii) the impact on our business of the regulatory environment and complexities with compliance related to such environment; (iv) our ability to respond to general economic conditions; (v) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (vi) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and other risks and uncertainties 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) and other reports we file with the SEC. 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.
The financial information presented herein is not a comprehensive statement of our financial results for this period, and our actual results may differ materially from these estimates due to the completion of our financial closing procedures, final adjustments, and other developments that may arise between now and the time the closing procedures for the fiscal quarter are completed.
Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: jnvr@crescendo-ir.com
