Netcapital Q1 FY2024 revenue up 13% to $1.5M; net loss $492K vs prior-year profit

Netcapital Inc.

2024-Q1 EPS reported -$0.07 revenue$1,519,809

Total revenue $1.5M (+13% YoY); funding portal revenue $375,856 (+110% YoY).
Net loss $492K vs net income $65K in Q1 FY2023; diluted loss per share $0.07 vs EPS $0.02.
Loss driven by higher marketing spend and stock-based compensation of $483K (vs $33K prior year).
Began internal testing of secondary trading platform (registered ATS) for private securities.
CEO cites strong quarter; conference call scheduled for Sept 15, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Netcapital Inc. reported the first quarter of fiscal year 2024 ended July 31, 2023 results: revenue $1.5 million, net income net loss of approximately $492,000, EPS $0.07.

Period: the first quarter of fiscal year 2024 ended July 31, 2023
Revenue: $1.5 million
Net income: net loss of approximately $492,000
EPS: $0.07
Result: reported results

Exact text from the filing

to support the continued growth of both our investor and issuer communities.” First Quarter Fiscal 2024 Financial Highlights ● Revenue growth of 13% year-over-year to $1.5 million, compared to revenue of $1.3 million in the first quarter of fiscal year 2023. ● Year-over-year increase of 110% in revenue from our funding portal services, which

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Source: SEC EDGAR

accession 0001903596-23-000723

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