Netcapital (NCPL) Globenewswire·2024-12-16 21:35Core Insights - Netcapital Inc. reported a significant year-over-year revenue decrease of 92% to $170,528 for the second quarter of fiscal year 2025, compared to $2,041,658 in the same quarter of the previous year [3] - The company experienced a quarter-over-quarter revenue increase of 20% from $142,227 in the first quarter of fiscal year 2025 [3] - The decrease in revenue year-over-year was primarily attributed to a slowdown in consulting revenue, while the sequential increase was driven by the funding portal business [2] Financial Performance - The operating loss for the second quarter of fiscal year 2025 was ($2,202,431), compared to an operating income of $52,220 in the same quarter of fiscal year 2024 [3] - The net loss for the second quarter of fiscal year 2025 was approximately ($2,220,501), compared to a net profit of approximately $339,616 for the same period in the prior year [3] - Loss per share for the quarter ended October 31, 2024, was ($2.34), compared to earnings per share of $2.52 for the same period in the prior year [3] Cash Position - As of October 31, 2024, the company had cash and cash equivalents of $1,346,739, an increase from $863,182 as of April 30, 2024 [3][9] Strategic Developments - The company’s subsidiary, Netcapital Securities Inc., received approval from FINRA to become a FINRA-member broker-dealer, which is expected to open up new revenue channels [2] - With the new broker-dealer license, the company aims to support capital raising under Reg A and Reg D offerings, facilitate larger fundraises, and establish fee-sharing agreements with other broker-dealers [2] Upcoming Events - The company will host an earnings call on December 17, 2024, at 10:00 a.m. ET to discuss its financial results and future outlook [1][4]