Q4 2024 Netcapital Inc Earnings Call Transcript
Key Points
- The average amount raised in an offering on the Netcapital Funding Portal increased significantly from $128,000 to $280,000 year over year.
- The total number of successful offerings on the platform increased from 50 to 53.
- Revenue from portal fees more than doubled, increasing by 109% year over year.
- Significant deals were closed by issuers, including Avadain and EarthGrid PBC, totaling almost $8 million.
- Netcapital introduced a 1% fee on equity raised by issuers, earning equity securities from 30 clients.
- Revenues for fiscal 2024 decreased by 42% to $4,951,435 compared to the previous year.
- Consulting services for equity securities saw a significant drop, decreasing by 52% to $3.44 million.
- An unrealized loss of approximately $2.7 million was recognized in the value of equity securities.
- An impairment loss of $1,048,430 was recorded due to the devaluation of intangible assets.
- The company reported an operating loss of $3,442,388 for fiscal 2024, compared to an operating income in the previous year.
Good morning, everyone, and welcome to the Netcapital Incorporated quarterly earnings call. (Operator Instructions)
It is now my pleasure to turn the floor over to your host, Coreen Kraysler of Netcapital Incorporated. Coreen, over to you.
Thank you so much, Jenny. Good morning, everyone. And thank you for joining Netcapital's full-year fiscal 2024 financial results conference call. This is Coreen Kraysler, CFO of Netcapital, Inc. I will begin with a review of our financial results.
Following that, Netcapital's CEO, Martin Kay, will follow with his prepared remarks before we open up the call for questions.
Before we begin, I'd like to call your attention to the customary Safe Harbor disclosure regarding forward-looking information. Management's discussion may include forward-looking statements. These statements relate to future events or future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results to be
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