Netcapital Inc. reported Q2 FY2025 results with revenue of $170,528, down 92% year-over-year from $2,041,658. The company attributed the decrease to a lack of consulting service revenue and lower funding portal activity. Gross profit declined to $150,747 from $2,021,524 in Q2 FY2024.Operating expenses increased to $2,353,178 from $1,969,304 last year, primarily due to higher general and administrative costs. This resulted in an operating loss of $2,202,431 compared to an operating income of $52,220 in Q2 FY2024. Net loss for the quarter was $2,220,501 versus a net income of $339,616 last year.Netcapital ended the quarter with $1,346,739 in cash and negative working capital of $2,615,585. The company raised approximately $2 million through an at-the-market offering in August-October 2024. Management noted substantial doubt about Netcapital's ability to continue as a going concern, citing negative cash flows and the need for additional financing to fund operations.

Netcapital Inc. reported Q2 FY2025 results with revenue of $170,528, down 92% year-over-year from $2,041,658. The company attributed the decrease to a lack of consulting service revenue and lower funding portal activity. Gross profit declined to $150,747 from $2,021,524 in Q2 FY2024.Operating expenses increased to $2,353,178 from $1,969,304 last year, primarily due to higher general and administrative costs. This resulted in an operating loss of $2,202,431 compared to an operating income of $52,220 in Q2 FY2024. Net loss for the quarter was $2,220,501 versus a net income of $339,616 last year.Netcapital ended the quarter with $1,346,739 in cash and negative working capital of $2,615,585. The company raised approximately $2 million through an at-the-market offering in August-October 2024. Management noted substantial doubt about Netcapital's ability to continue as a going concern, citing negative cash flows and the need for additional financing to fund operations.