ParcelPal Logistics Stock

ParcelPal Logistics Inc. specializes in last-mile delivery service and logistics solutions. From its hubs in Vancouver, Calgary, and Toronto the company offers delivery and logistics solutions for business to business, business to customer, and any other tailored creative solutions.

With its 200+ team members’ expertise in logistics operations and its in-house technical excellence, the company is uniquely positioned to create a solution-driven by customer’s needs.

Using ‘Lean Six-Sigma’ methodologies, the company defines, measures, analyzes, implements, and control process improvements to provide its partners with cutting edge services and offerings.

Services

The company offers its delivery services throughout major cities in Canada and in the western United States. The majority of the company’s business is doing same day deliveries and next day deliveries for businesses in the cities in which it operates.

The company is a customer-driven, courier and logistics company connecting people and businesses through its network of couriers. Some of the company’s verticals include pharmacy and health, meal kit deliveries, retail, groceries and more.

Strategy

The company plans to implement additional services for consideration of growing the merchant’s business and retaining existing customers. The company intends to pursue a number of technologies, product and marketing initiatives to continue to drive growth in 2023.

The key elements of the company’s strategy are to increase the number of merchants in various verticals for next-day and same-day delivery services for the B2B (business-to-business) markets, enabling easier customer acquisition and business integration; continue expanding into the Amazon and FedEx Ground ecosystem throughout Canada and the United States; and deliver more than twenty million total packages by the end of 2023.

The company has its revenue stream through billable contracts, such as Amazon.com Inc, FedEx Ground, and other merchants.

Seasonality

The company typically experience an increase in customers’ demand as the calendar year progresses, especially in retail and corporate activity during holiday periods, particularly during its fourth financial quarter (year ended December 2022) in connection with the holiday season (e.g., Christmas, Channukah gift buying). The company enhances its B2B business focus to further diversify its customer base and revenue streams going forward, including by engaging with meal kit, health, retail, grocery, and pharmacy companies.

History

The company was incorporated in Alberta in March 1997 under the name 730898 Alberta Ltd. In December 1997, the company changed its name to First Industrial Capital Corporation and then to Onbus Technologies Inc. in 2001. In 2006, the company changed its jurisdiction of incorporation to British Columbia, Canada and changed its name to Royal Monashee Gold Corp. Further, the company changed its name to Plus8 Global Ventures Ltd. in 2012 and then to ParcelPal Technology Inc. in 2016.