Business
Netcapital Announces Revenue Growth of 55% for Fiscal Year 2023
Investor conference call to be held tomorrow, July 27, 2023, at 10:00 a.m. ET BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the
About this update from Netcapital Inc.
[{"type":"text","content":"\nInvestor conference call to be held tomorrow, July 27, 2023, at 10:00 a.m. ET\n\n\n BOSTON--(BUSINESS WIRE)--\nNetcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced financial results for its fourth quarter and fiscal year 2023 ended April 30, 2023.\n\n\n“Fiscal 2023 marked a year of strong performance, highlighted by revenue growth of 55% and operating income of more than $2 million,” said Martin Kay, CEO of Netcapital Inc. “The value proposition of our business is becoming more evident as we continue to build scale and deliver a superior experience at a lower cost for issuers. We expect to offer secondary trading in private equities later in this year, a liquidity model that we believe will support expansion of both our investor and issuer communities, and generate a potential new revenue stream for Netcapital. As a back-to-back winner of the Fintech Breakthrough Award in 2022 and 2023, our brand is well-recognized for innovation and excellence, and well-positioned for value creation.”\n\n\nFiscal Year 2023 Highlights\n\n\n\nRevenue growth of 55% year-over-year to $8.5 million as compared to $5.5 million in fiscal 2022\n\n\n\nOperating income of $2.3 million compared to an operating loss of $1.0 million in fiscal year 2022\n\n\n\nPaid down $1 million in debt, closed two underwritten public offering for aggregate gross proceeds of $6.7 million, and uplisted to Nasdaq in July 2022\n\n\n\nFor additional disclosure regarding operating results, please refer to the Annual Report on Form 10-K for the period ended April 30, 2023, which has been filed with the U.S. Securities and Exchange Commission.\n\n\nConference Call Information\n\n\nThe Company will host an investor conference call at 10:00 a.m. ET tomorrow, July 27, 2023.\n\n\nParticipant access: 844-985-2012 or 973-528-0138\nConference entry code: 398497\n\n\nFor those unable to participate in the live call, a replay will be made available in the Investors section of the Company’s website.\n\n\nAbout Netcapital Inc.\n\n\nNetcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equi...