Business
Metalpha Reports Preliminary First Half of 2022 Unaudited Results
HONG KONG, March 2, 2023 /PRNewswire/ -- Metalpha Technology Holding Limited (NASDAQ: MATH) (the "Company" or "Metalpha"), a digital assets service provider,
About this update from Metalpha Technology Holding Limited
[{"type":"text","content":"HONG KONG, March 2, 2023 /PRNewswire/ -- Metalpha Technology Holding Limited (NASDAQ: MATH) (the \"Company\" or \"Metalpha\"), a digital assets service provider, today announced its preliminary unaudited financial results for the six-month period ended September 30, 2022 (the \"1H 2023\").\nIn 1H 2023, the Company's revenue from fair value change of proprietary trading digital assets (Trading Revenue）grew by more than 3,000% against the six-month period ended March 31, 2022 (\"2H 2022\"), rising from just over $122,000 in 2H 2022 to approximately $3.9 million in 1H 2023. The Company has also seen substantial growth of over 300% in its aggregate notional amount of derivative products issuance from about $48.9 million in 2H 2022 to about $198 million in 1H 2023, showing robust demand from Metalpha's global customer base, which includes crypto and blockchain mining companies, institutional investors and family offices. Trading revenue and derivative product issuance are key metrics Metalpha analyzes in evaluating its business scale and success.\nFINANCIAL HIGHLIGHTS\nComparison of 2H 2022 with 1H 2023 \nDerivative Product IssuanceThe aggregate notional amount of derivative products' issuance in 1H 2023 was approximately $198 million, compared to $48.9 million in 2H 2022, an increase of more than 300%. \nTime Period\n2H 2022\n1H 2023\nDerivative Product Issuance\n$48.9 million\n~$198 million\n \nTrading RevenueThe revenue from fair value change of proprietary trading digital assets grew by more than 3,000%, rising from just over $122,000 in 2H 2022 to approximately $3.9 million in 1H 2023. \nTime Period\n2H 2022\n1H 2023\nTrading Revenue\n$122,000\n~$3.9 million\n \nTotal Revenue from Continuing OperationThe total revenue from continuing operations for 1H 2023 was approximately $3.9 million, compared to the total revenue of $0.92 million for 2H 2022, an increase of over 320%. \nTime Period\n2H 2022\n1H 2023\nTotal Revenue from ContinuingOperation\n$0.92 million\n~$3.9 million\n \nGain/(Loss) from Continuing OperationThe gain from continuing operation of 1H 2023 was approximately $151,000, compared to the loss from operations of $0.95 million for 2H 2022, showing an improvement of approximately $1 million. \nTime Period\n2H 2022\n1H 2023\nGain/(Loss) from ContinuingOperation\n($0.95 million)\n~$151,000\n \nNet Income (Loss)The net lo...