WASHINGTON, DC, April 15, 2024 - Xalles Holdings Inc. (OTC: XALL), a diversified holding company, announced the release of its Annual Report and Financial Statements for the year ended December 31, 2023. The company reported substantial growth in revenue and profit, driven by strategic acquisitions and operational enhancements.
Financial Highlights
- Revenue Growth: Xalles Holdings saw its revenue soar to $19,123,932 in 2023, a substantial increase from $5,907,336 in 2022. This growth is attributed to the successful integration of acquired entities and the expansion of core services.
- Net Income: The company’s net income increased impressively to $2,789,958 in 2023, up from $1,079,712 in 2022. This rise reflects the company’s effective cost management approach and the operating companies’ business models.
- Earnings Per Share: Basic and diluted income per share increased to $0.00184 in 2023 from $0.00089 in 2022, demonstrating enhanced shareholder value.
Recent Strategic Acquisitions
- Adaptive Analytics Inc.: Xalles completed an acquisition for a 25% stake in Adaptive Analytics Inc., in preparation for a future transaction event that would make Adaptive a wholly owned subsidiary, further strengthening our data analytics capabilities.
- Artemis Defense Technologies UK Ltd.: Acquired in December 2023, Artemis enhances our portfolio with advanced defense technology solutions, including uncrewed aircraft systems.
- CashXAI Inc.: Early in 2024, Xalles acquired CashXAI Inc., expanding our financial services offerings with innovative kiosk and mobile app solutions.
Xalles Holdings continues to pursue growth through acquisitions and organic expansion, leveraging our proprietary technologies and market position to drive value for shareholders and customers alike.
About Xalles Holdings Inc. (OTC Pink: XALL)
Xalles Holdings Inc. is a leading holding company, specializing in innovative technology and financial service solutions. Focused on growth and diversification, Xalles Holdings is committed to developing cutting-edge technology-based solutions across various sectors, with an emphasis on supporting disruptive companies. Utilizing its proprietary Xalles RISE Business Model (Roll In, Selected Exit), the company actively seeks acquisition targets with solid management teams, robust business models, expansive total attainable markets (TAM), and enticing exit opportunities. Emphasizing the integration of blockchain and cutting-edge technologies, Xalles provides industry-leading solutions, poised to capture recurring revenue streams over time. Discover more at Xalles.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at SEC.gov and in OTC Markets at OTCMarkets.com.
Investor Relations Contact
IR: 202.779.1460