Interesting..you say the latest Q was a failure..yet they increased revenue and paid down debt and long term liability…sounds like a win to me..
Exxe Group Reports First Quarter 2025 Results
Press Release | 08/21/2024
Exxe Group, Inc. (OTC PINK: AXXA), ("Exxe" or the "Company"), releases its First Quarter results for 2025 for the period ending June 30, 2024.
Key Financial Highlights
First Quarter revenue growth: Increased by $1.01 million or 6.5%, from $15.62 million in 1Q2024 to $16.63 million in 1Q2025.
Long-term debt reduction: Decreased by $1.17 million, or 5.3%, from $22.96 million in 1Q2024 to $21.79 million in 1Q2025.
Total liabilities reduction: Decreased by $1.32 million, or 4.4%, from $31.16 million in 1Q2024 to $29.84 million in 1Q2025.
Net income: Increased by $14.74 million from a net loss of $(11.40) million in 1Q2024 to $3.34 million in 1Q2025.
Revenue Generation Summary
Exxe Group booked $16.63 million of services revenue during the First Quarter of FY-2025. Revenues supplied to each industrial segment are broken down as follows: Agriculture: $2.90 million; Real Estate: $1.14 million; Automotive: $7.9 million; Medical: $4.36 million; Miscellaneous: $0.33 million.
Significant Events
Exxe’s migration to a service platform-centric business model is a contributing factor in management’s accelerated audit plans. Exxe Group set a corporate-level audit as a management objective. Exxe also engaged an audit prep company and an auditing firm to advise on achieving this goal.
From an operating perspective, the platform is positioned to add future leverage including the entrance into new vertical markets which will be announced later this quarter.
Exxe Group completed the preparation of two years of books for Designarchive AG as requested by the auditor.
After a comprehensive restructuring of our business model and deepening our relationships with clients and partners, Exxe Group is actively expanding the roster of service providers on our SaaS-based platform. This strategic enhancement not only strengthens our ability to extend Exxe’s services into new geographic regions but also diversifies the industrial sectors we serve. This scalability improves our capability to meet an increasingly broad range of client needs effectively. We are currently engaging with prospective clients in the telecommunications sector, anticipated to significantly broaden our market reach and enhance revenues for Exxe Group. We will share more details as we finalize these critical agreements.
Management Comments
Dr. Eduard Nazmiev, Exxe Group CEO, stated: "Exxe Group continues to make good progress overall with both revenue growth and long-term debt reduction. The Company is pleased to report revenues of $16.63 million for the First Quarter of 2025. This is 5% growth over the $15.8 million average quarterly revenue generated in FY-2024. Exxe Group currently anticipates annualized revenues in the range of $70 million in FY-2025 based on reported results and the projected onboarding of new client contracts."
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