q2 had a full quarter of a fully opened hospitality sector in the canadian market and onboarded its first new us customers canada lifted all restrictions and limits in the hospitality and personal care spaces in early march in q2 2022 xtm xtmif reported that the gross dollar value gdv loaded on its platform was 117 million an increase of 405 from 23 million in q2 2021 active users at year end were 58000 up 262 from 16000 at the end of q2 2021 xtm signed up 220 new locations for its tips today program during the slower summer quarter compared to 224 in q1 2022 xtm continues to enhance its platform it has integrated with more pos systems and also introduced a standalone version of tipstoday which makes it more flexible and will allow verticals aside from restaurants use it it allows manual inputs when different information needs to be entered than the pos system would generate the company just signed its first tipstoday customer outside the restaurant industry—an ondemand waste disposal company and hopes many other industries will follow not only can the company now pay its drivers their earnings but it can preload tipstoday debit cards for expenses the drivers incur such as to pay for gas for the trucks and to pay dump fees certainly with the cost of gas these are large sums for an employee to burden xtm is looking to serve other industries employing drivers xtm is a canary for the economy and it has recently heard from its customers that restaurant patrons have started to pull back spending as a reaction to interest rates and inflation we have reduced revenue expectations somewhat for xtm as a result but still expect rapid growth this year the company has a fully diluted enterprise value of us186 million cn245 million and trades at an ev to 2023 sales ratio of 20 times this compares with peers who trade at 32 times subscribe to zacks small cap research to receive our articles and reports emailed directly to you each morning please visit our website for additional information on zacks scr disclosure zacks scr has received compensation from the issuer directly from an investment manager or from an investor relations consulting firm engaged by the issuer for providing research coverage for a period of no less than one year research articles as seen here are part of the service zacks scr provides and zacks scr receives quarterly payments totaling a maximum fee of up to 40000 annually for these services provided to or regarding the issuer full disclaimer here