Netcapital Inc., a digital private capital markets ecosystem, reported a significant decrease in financial performance for the first quarter of fiscal year 2025 ended July 31, 2024. The company's revenue plummeted by approximately 91% year-over-year to $142,227, down from $1,519,809 in the same quarter of the previous fiscal year. The decline was primarily attributed to a decrease in revenues for services provided in exchange for equity securities. The total funding portal revenues also saw a decrease of about 62% year-over-year. Netcapital's operating loss widened to ($2,508,237), a 235% increase from the previous year's first quarter, and net loss surged by 414% to ($2,527,170). Loss per share rose to ($5.10), marking an 11% increase compared to the same period last year. As of July 31, 2024, the company had...Show More

Netcapital Inc., a digital private capital markets ecosystem, reported a significant decrease in financial performance for the first quarter of fiscal year 2025 ended July 31, 2024. The company's revenue plummeted by approximately 91% year-over-year to $142,227, down from $1,519,809 in the same quarter of the previous fiscal year. The decline was primarily attributed to a decrease in revenues for services provided in exchange for equity securities. The total funding portal revenues also saw a decrease of about 62% year-over-year. Netcapital's operating loss widened to ($2,508,237), a 235% increase from the previous year's first quarter, and net loss surged by 414% to ($2,527,170). Loss per share rose to ($5.10), marking an 11% increase compared to the same period last year. As of July 31, 2024, the company had cash and cash equivalents of $855,181. Despite the challenging quarter, Netcapital Inc. has taken steps towards future growth, including the application for broker-dealer registration with FINRA by its subsidiary, Netcapital Securities Inc., and the launch of a beta version of a secondary trading platform through the Templum ATS. The company will host an earnings call on September 17, 2024, to discuss these results.