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Metalpha Reports Half-Year FY2025 Financial Results with Revenues up Nearly Four-fold, and Announces a $5 Million Share Repurchase Program
HONG KONG, Feb. 13, 2025 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global leader in digital asset
About this update from Metalpha Technology Holding Limited
[{"type":"text","content":"HONG KONG, Feb. 13, 2025 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the \"Company\" or \"Metalpha\"), a global leader in digital asset wealth management, is pleased to announce its unaudited financial results for the six months ended September 30, 2024, with revenue up by an impressive 388% compared to the same period in FY2024. The Company also announced today that its Board of Directors has approved a share repurchase program of up to $5 million, reflecting confidence in the Company's future growth. Since the announcement of the Company's joint venture with Antalpha Technologies Limited on November 8th, 2021, Metalpha has grown to become a leader in digital asset wealth management, with its robust financial performance demonstrating substantial growth amid increasing adoption of cryptocurrency.\n\nFY2025 Interim Results Highlights\nFor the six months ended September 30, 2024, Metalpha achieved total revenue of $19,720,654, nearly fourfold compared to $5,085,150 for the same period in FY2024. Net income reached $6,044,921, a remarkable turnaround from a net loss of $3,856,955 in the prior-year period. The growth was driven by the pursuit of delivering high-quality products and services to clients. The following table presents the Company's total revenue and net income (loss) for each of the six-month period ended September 30, 2024, March 31, 2024, September 30, 2023 and March 31, 2023:\nFor the Six Months Ended\nSeptember 30, 2024\nMarch 31, 2024\nSeptember 30, 2023\nMarch 31, 2023\nTotal Revenue \n$19,720,654\n$11,678,395\n$5,085,150\n$1,753,186\nNet Income \n(Loss)\n$6,044,921\n$177,546\n($3,856,955)\n($7,033,059)\nFor further information regarding the Company's unaudited financial results for the first six months of fiscal year 2025, please refer to the unaudited consolidated financial statements of the Company as of September 30, 2024 and for the six months ended September 30, 2024, furnished to the U.S. Securities and Exchange Commission on Form 6-K and available at www.sec.gov.\n$5 Million Share Repurchase Program \nMetalpha's Board of Directors has approved a share repurchase program of up to $5 million over the next 36 months. The Company's repurchases may be made from time to time through open market purchases, privately negotiated transactions, or other legally permissible methods, depending ...