The following is a summary of the Netcapital Inc. (NCPL) Q3 2024 Earnings Call Transcript:
Financial Performance:
Netcapital reported a revenue decrease of $1.2 million or 54%, totaling $1 million for Q3 2024, primarily due to a decrease in revenue from consulting services.
Funding portal revenues were recorded at $179,588, a decrease from $231,833 in the same quarter of the previous year.
Netcapital reported a loss per share of $0.19 for Q3 2024, a considerable decline from earnings per share of $0.33 for the same period in the prior year.
Business Progress:
Despite fewer issuers listing on their funding portal, Netcapital has seen a 70% increase in funding portal revenues within the first nine months of fiscal 2024.
A $4 million public offering was closed during Q3, which has strengthened the company's balance sheet.
Netcapital's plans to continue scaling their platform for various investors, as well as the progress of their alternative trading system (ATS) currently in closed beta, show an optimistic outlook despite the challenging quarter.
More details: Netcapital IR
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