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Netcapital Announces Third Quarter Fiscal 2023 Financial Results Including Year-to-Date Revenue Growth of 48%
Conference call to be held on March 17th at 10:00 a.m. ET BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private
About this update from Netcapital Inc.
[{"type":"text","content":"\nConference call to be held on March 17th at 10:00 a.m. ET\n\n BOSTON--(BUSINESS WIRE)--\nNetcapital Inc. (Nasdaq: NCPL, NCPLW) (the “Company”), a digital private capital markets ecosystem, today announced financial results for the third quarter and first nine months of fiscal year 2023 ended January 31, 2023.\n\n“Over the past nine months, Netcapital has generated substantial revenue growth while generating positive operating and net income,” said Martin Kay, CEO of Netcapital Inc. “We have established a number of important strategic partnerships designed to create opportunities for clients and investors, while scaling and advancing our operating platform for continuing growth. Netcapital is executing on the vision for our brand - to break down traditional barriers and offer opportunities for anyone to invest in private companies. Along the way, we are turning customers and communities into owners and brand ambassadors for the businesses they love. We believe this is a powerful symbiotic relationship.”\n\nThird Quarter Fiscal 2023 Financial Highlights\n\n\nRevenue growth of 25% year-over-year to $2.3 million\n\n\nPositive operating income of $571,000 compared to an operating loss of $135,000 in the year-ago quarter\n\n\nDiluted earnings per share of $0.33\n\n\nFirst Nine Months of Fiscal 2023 Highlights\n\n\nRevenue growth of 48% year-over-year to $5.4 million\n\n\nPositive operating income of $912,000 compared to an operating loss of $1.5 million in the first nine months of fiscal year 2022\n\n\nDiluted earnings per share of $0.46\n\n\nPaid down $1 million in debt, closed a $5 million underwritten public offering, and uplisted to Nasdaq in July 2022\n\n\nFor additional disclosure regarding Netcapital’s operating results, please refer to the Quarterly Report on Form 10-Q for the period ended January 31, 2023, which has been filed with the Securities and Exchange Commission.\n\nConference Call Information\n\nThe Company will host an investor conference call at 10:00 a.m. ET tomorrow, March 17, 2023.\n\n\n\nParticipant access:\n\n\n \n \n\n844-985-2012 or 973-528-0138\n\n\n\n\n\n \n\n\n \n \n\n \n\n\n\n\n\nConference entry code:\n\n\n \n \n\n399662 \n\n\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\nAbout Netcapital Inc.\n\nNetcapital I...