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
March 16, 2023 05:05 PM Eastern Daylight Time
BOSTON--(BUSINESS WIRE)--Netcapital 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.
“Over the past nine months, Netcapital has generated substantial revenue growth while generating positive operating and net income”
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“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.”
Third Quarter Fiscal 2023 Financial Highlights
Revenue growth of 25% year-over-year to $2.3 million
Positive operating income of $571,000 compared to an operating loss of $135,000 in the year-ago quarter
Diluted earnings per share of $0.33
First Nine Months of Fiscal 2023 Highlights
Revenue growth of 48% year-over-year to $5.4 million
Positive operating income of $912,000 compared to an operating loss of $1.5 million in the first nine months of fiscal year 2022
Diluted earnings per share of $0.46
Paid down $1 million in debt, closed a $5 million underwritten public offering, and uplisted to Nasdaq in July 2022
For 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.
Conference Call Information
The Company will host an investor conference call at 10:00 a.m. ET tomorrow, March 17, 2023.
Participant access:
844-985-2012 or 973-528-0138
Conference entry code:
399662
For those unable to participate in the live call, a replay will be made available in the Investors section of the Company’s website.
About Netcapital Inc.
Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies. The Netcapital funding portal is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.
