Metalpha Technology Holding Limited · NASDAQ:MATH
Metalpha Technology — Investor Presentation (June 2025)
31 slides from Metalpha Technology's investor presentation, Jun 9, 2025
Slide 1: Leading the Future of Digital Asset Wealth Management
June 2025 Leading the Future of Digital Asset Wealth Management (NASDAQ: MATH )
Slide 2: Forward-Looking Statements
Some of the information we provide in this presentation contains statements that may constitute "forward - looking" statements pursuant to the "safe harbour" provisions of the U . S . Private Securities Litigation Reform Act of 1995 . These forward - looking statements can be identified by terminolo
Slide 3: Financial Disclosure Advisory
FINANCIAL DISCLOSURE ADVISORY This presentation contains certain estimated preliminary financial results for the fiscal year ended March 31 , 2025 . These estimates are based on the information available to the Company at this time . The Company’s financial closing procedures for for the fiscal year
Slide 4: Non IFRS Measures
NON IFRS - MEASURES This presentation includes certain financial and operating measures, including EBITDA, Adjusted EBITDA, P/S ratio, P/E ratio, P/B ratio, EV/EBITDA ratio and measures calculated based on these measures, that are not prepared in accordance with international financial reporting sta
Slide 5: A Leading Digital Asset Wealth Management Company
Metalpha Technology Holding Limited (NASDAQ: MATH), through its subsidiaries, is dedicated to providing digital asset - focused wealth management services with a full - service, institutional - grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of d
Slide 6: Company Background
Company Background
Slide 7: Company Structure
Metalpha Technology Holding Limited NASDAQ Listed MATH HK SFC Licensed ( Type 1, 4 , G ) Dealing and Advising on Securities(with a Virtual Asset License uplift) and Asset Management Metalpha Limited Digital Assets Management Solution The company officially rebranded and restructured in January 202
Slide 8: Team Members and Global Presence
Team Members Our team is composed of professionals from well - known financial institutions such as Goldman Sachs, UBS, JPMorgan Chase, Citibank and Barclays, with extensive experience in product structure, trading, and risk management. The team members are currently distributed in Hong Kong, Canada
Slide 9: Dual supervision by SEC and SFC
Dual supervision by SEC and SFC The company is listed in the United States NASDAQ MATH Wholly - owned subsidiary LSQ Capital licenses are issued by HK SFC(No. BRQ875): License 1 (Dealing in securities, Virtual Asset) License 4 (Advising on securities, Virtual Asset) License G (Asset management) St
Slide 10: Expanding into the Middle East
ZMG7 LLC Standard Chartered Bank Holding Subsidiary 8 UAE Investment Conglomerate Asia’s One of The Leading Digital Asset Service Platform Metalpha has partnered with Gewan Holding and Zodia Markets to establish ZMG7 LLC, a joint venture aimed at driving the growth of the digital asset market in the
Slide 11: Social Responsibility
Social Responsibility We launched the Hong Kong Sustainable Technology Foundation, which has donated to and collaborated with numerous universities and primary schools. 9 In 2022, the foundation donated to research at the Hong Kong Polytechnic University on Bitcoin mining and carbon neutrality. In 2
Slide 12: About Our Business Model
About Our Business Model
Slide 13: Market Cap of BTC & ETH and Potential Market Growth
Market Cap of BTC C ETH Source: Forbes, IGWT, Statista, SCP Global and ISDA. As of 2/12/2025 $2.2 Tn $73 Bn Gold Market US$ 19.46 tn Equity Market US$ 131.9 tn Bond Market USD 144.3 tn Crypto Market US$ 3.28 tn Derivatives Market $729.8 tn Potential Market Growth Daily Trading Volume of BTC C ETH 10
Slide 14: Structured Products in Asia vs Cryptocurrencies
750 1,000 0 500 1,000 1,500 2015 2022 * Issuance of structured products in Asian markets (bn) 1,934 71 0 500 1,000 1,500 Ԇإૄ٠ۈ١қ ৈߣԗфսՇ੧ Cryptocurrencies Market (bn) BTC Market Cap As at 13 February 2025 Crypto Structured Product Issuance 1,934 Asian Stocks vs Cryptocurrencies (bn) 29,320 25,000 20
Slide 15: Business Model: Crypto Derivatives Structured Product
Crypto Derivatives Structured Product Trading Volume X Take Rate Net Revenue 12 – Operating Overheads Net Profit Factor variables: Take Rate [product type engaged] [duration of product] [realized vol vs. implied vol] Trading Volume [cycle of the crypto market] [adoption rate of crypto ] [penetration
Slide 16: The Metalpha Wave – Using Different Products Across The Cycle
Peak Trough Recovery Sell at premium Sell Call Decumulator Short and hedge Long put Collar - loan Yield generation from volatility Reverse snowball Buy at discount Sell put Accumulator Down - in - call Yield generation from volatility Snowball Accumulating with some protection Airbag Into Bull Marke
Slide 17: Business Model: Fund Management – Alternative Investments
Fund Management – Alternative Investments Net Revenue 14 ▪ High standard of compliance ▪ SPC / LPF structure ▪ Cryptos and digital assets related Investments ▪ Target alpha return Management Fee + Performance Fee Fund Features: Business Model
Slide 18: Recent Business Update
Recent Business Update
Slide 19: FY2024 H1 Highlights: Vigorous Financial Growth
- 15.28 0.18 6.04 - 20 - 15 - 10 - 5 0 5 10 /31 2023/9/30 2024/3/31 2024/9/30 3/3 202 - 3.86 US$ Million Net Profit/Loss 0.96 2.25 8.63 - 2 0 2 4 6 8 10 2 0 2 - 0 3 . / 3 3 1 /31 2023/9/30 2024/3/31 2024/9/30 US$ Million Adjusted EBITDA* FY 2024H1(Sept. 2024 ͤ Highlights Business Revenue: $ 1G.7Mill
Slide 20: Unique Value Proposition for Shareholders
Unique Value Proposition for Shareholders Proxy for Crypto Market And more importantly, proxy for Asian crypto market Low Valuation Growth stock with low valuation Safe Strong balance sheet
Slide 21: MATH Provides An Attractive Opportunity
8.0x 9.9x 18.7x 30.3x 8.0x 8.8x 8.7x 27.1x 40.0x 86.2x 5.2x 6.6x 4.1x 3.6x 10.1x 5.2x 5.1x 76.4x 8.2x 2.0x 5.9x 24.2x 29.2x 119.8x 0.0x 20.0x 40.0x 60.0x 80.0x 120.0x 100.0x 140.0x Metalpha Marathon Bitdeer Robinhood Amber Antalpha As of 2025/03/13 Coinbase P/S P/E P/B EV/EBITDA 16 MATH Provides An
Slide 22: Strong Balance Sheet
86.27 10.42 75.86 0 50 100 150 200 250 US$ Million 2023/09/30 Assets Shareholders equity Liabilities 237.22 25.32 211.9 0 50 100 150 200 250 US$ Million 2024/09/30 Assets Shareholders equity Liabilities 17 Strong Balance Sheet
Slide 23: Strong Balance Sheet
Strong Balance Sheet 111.29 24.27 204.59 4.03 3.81 30.79 68.69 US$ Million *Self own digital assets majority owned in form of stable coins. 18 0 50 100 150 200 250 Self Own Digital Assets* and Cash Account for 46.3% of Total Market Cap. Other Data Except for Market Cap as of 2024/09/30; Market Cap a
Slide 24: Future and Guidance
Future and Guidance
Slide 25: Estimated Income Guidance
Estimated Income: ▪ Year 2024 (2024/03/31 - 2025/03/31) US$ 40 million 40 16.8 YEAR 2023 YEAR 2024E Income (in million) Guidance 2.4x 19 Note: this estimated income is based on preliminary unaudited information and management estimates for the fiscal year ended March 31, 2025, is not a comprehensive
Slide 26: Company Milestone
▪ Oct: Formed 51%/49% JV(Metalpha Limited) with Antalpha to conduct OTC derivatives business 2021 2022 2023 2024 ▪ Jan: Begun conducting derivative business ▪ Nov: Ticker and name changed ▪ Nov: Acquired the 49% JV stake ▪ Mar: Financial breakeven ▪ Apr: Virtual Assets Type 1 License ▪ Apr: Set up J
Slide 27: Contacts
ir@metalpha.finance https:// www.metalpha.finance/ 21 Contacts
Slide 28: Appendix
Appendix ad L Metalpnawoer)
Slide 29: Balance Sheet
For the six months ended September 30 YoY 2023 2024 % (Unaudited) (Unaudited) US$ - 43.8% 43,194,607 24,273,084 Financial assets measured at fair value through profit or loss 61.8% 126,468,184 204,594,180 Digital assets - - 4,033,054 Digital assets – related party 99.4% 85,373 170,230 Prepayments an
Slide 30: Income Statement
For the six months ended September 30 YoY 2023 2024 % (Unaudited) (Unaudited) US$ 287.8% 5,085,150 19,720,654 Income from wealth management business 208.3% 3,229,221 9,956,510 Cost of revenue 15.9% 1,796,584 2,083,020 Selling , general and administrative expenses 12843.2% 59,345 7,681,124 Results fr
Slide 31: Non-GAAP Adjusted EBITDA
For the six months ended September 30 YoY 2023 2024 % (Unaudited) (Unaudited) US$ 275.5% (3,623,730) 6,360,424 Profit (loss) before income tax 2553.5% (2,660) (70,582) Finance costs 8.0% 1,779 1,921 Depreciation of property and equipment 68.4% 42,777 72,056 Depreciation of right of use assets 277.7%
Metalpha Technology Holding — Investor Presentation (June 2025) on 6ix