Friday, February 16, 2024 12:27:35 AM
The Company recorded strong year-over-year growth driven by its wealth management business, a key pillar of its operations and revenue model. The Company designs and issues derivative products for institutions and professional investors and recognizes the fair value change of (i) trading of digital assets and derivative contracts and (ii) investment in trusts as income from our wealth management business.
Metalpha prides itself on being one of the world's largest digital asset-based derivative trading firms. The notional amount of derivative products issued in FY 2023 was $382 million compared to only $49 million in the fiscal year ended March 31, 2022 (the "FY 2022"). The income from the wealth management business jumped from $0.1 million in FY 2022 to $5.7 million in FY 2023.
Metalpha aims to provide qualified investors with high-quality product design and trading capabilities and is committed to delivering structured derivative products to cryptocurrency market participants.
"We are pleased to see strong demand for customized products and earn high customer satisfaction. The fast growth of our wealth management business indicates the market's confidence in our business approach. We strive to design products and services with compliance at the core. In the new year, we are confident about the improving market conditions which could lead to stronger demand for our derivative product subscriptions.
At the company level, we aim to maintain a high growth rate and significantly lower expenses as our business scale expands. We will also continue to innovate and diversify our business offerings in a bid to expand our market share in Asia," said Adrian Wang, President of Metalpha.
FINANCIAL HIGHLIGHTS
Notional Amount of Derivative Products Issued
FY 2022
FY 2023
Notional Amount of Derivative Product Issued
49 million
382 million
Income from Wealth Management Business
FY 2022
FY 2023
Income from Wealth Management Business
0.1 million
5.7 million
Adjusted Loss to the Company
FY 2022
FY 2023
Loss of the Year
(14,428,033)
(20,167,351)
Add: Equity-settled share-based payments under share award scheme
1,468,800
1,045,315
Add: Share purchase warrants expenses
6,063,086
10,176,995
Add: Total loss from discontinued operation
3,193,385
8,248,013
Adjusted Loss
(3,702,762)
(697,028)
The Company filed its annual report on Form 20-F for the FY 2023 (the "2023 Annual Report") with the U.S. Securities and Exchange Commission on February 12, 2024. The 2023 Annual Report included audited financial statements for the FY 2023. The 2023 Annual Report is available online at www.sec.gov.
About Metalpha Technology Holding Limited
Founded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company is dedicated to providing investing and 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 crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.
Recent MATH News
- Metalpha Announces Notification of Delinquency from The Nasdaq Stock Market LLC • PR Newswire (US) • 04/10/2024 10:30:00 AM
- Metalpha Appoints OneStop Assurance PAC as its New Auditor • PR Newswire (US) • 04/04/2024 08:10:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/08/2024 11:16:07 AM
- Metalpha to Hold 2024 Annual General Meeting of Shareholders • PR Newswire (US) • 03/08/2024 11:00:00 AM
- Metalpha Reports Fiscal Year 2023 Financial Results • PR Newswire (US) • 02/16/2024 03:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/15/2024 12:39:40 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 02:01:02 AM
- Form 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/12/2024 09:11:23 PM
- Form SCHEDULE 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/01/2024 03:49:23 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 01/22/2024 12:56:53 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 12/18/2023 01:27:25 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 12/18/2023 01:24:19 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 12/04/2023 09:05:20 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/21/2023 10:37:53 AM
- Metalpha Receives Notification of Deficiency from Nasdaq, Relating to Delayed Filing of Annual Report on Form 20-F • PR Newswire (US) • 08/21/2023 09:20:00 AM
- Form NT 20-F - Notification of inability to timely file Form 20-F • Edgar (US Regulatory) • 07/31/2023 01:26:52 PM
- Metalpha’s Next Generation Fund I Secures a Strategic Investment from Crypto Leader • GlobeNewswire Inc. • 05/25/2023 02:00:00 AM
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