Summary by Moomoo AI
Starbox Group Holdings Ltd., a company specializing in connecting retail merchants with shoppers through cash rebates and providing digital advertising services, has reported its financial performance for the fiscal year ended September 30, 2023. The company's total revenue increased by 63.2% to $11.74 million, primarily due to the introduction of software licensing services and the acquisition of One Eighty Ltd. Despite this growth, net income decreased by 31.7% to $2.15 million, attributed to increased operating expenses and income tax provisions. The company also expanded its business into marketing and software development sectors, as well as online and offline advertising services. Starbox Group's operations are primarily located in Malaysia, and it has undergone a reorganization to streamline its holding structure. The company's financial statements have been audited by YCM CPA INC. and Friedman LLP, with no material misstatements found. Starbox Group's shares are traded on the Nasdaq Capital Market under the symbol 'STBX'.