Global Mofy Announces Fiscal Year 2024 Financial Results; Conference Call Scheduled for Friday, January 3rd, at 9:00 AM Eastern Time

Core Viewpoint - Global Mofy AI Limited reported exceptional financial performance for the fiscal year ended September 30, 2024, with significant year-over-year growth in revenue, gross profit, and net income, driven by the demand for high-quality digital assets and AI-driven solutions in various industries [2][3][4]. Financial Performance - Total revenue reached $41.4 million, marking a 53.8% increase from $26.9 million in the previous fiscal year [6][8]. - Gross profit increased by 43.2% to $20.8 million, with a gross margin of 50.3% [7][8]. - Net income for the fiscal year was $12.1 million, representing an 89% increase from $6.6 million in fiscal year 2023, resulting in a net margin of 29.4% [8][9]. Asset Growth - Total assets as of September 30, 2024, reached $59.2 million, a substantial increase of 118.3% compared to $27.1 million as of September 30, 2023 [5][6]. Research and Development - R&D expenses totaled $7.5 million, reflecting a 109.8% increase from $3.6 million in fiscal year 2023, focusing on expanding the 3D digital asset library and advancing generative AI solutions [10]. Strategic Developments - The 3D digital asset library expanded to over 100,000 assets by the end of fiscal year 2024, supporting applications in film, television, advertising, online gaming, and digital tourism [11]. - The company announced the development of the Gausspeed platform for film production, enhancing collaboration and production efficiency [12]. - Global Mofy established GMM DISCOVERY LLC in North America to strengthen its presence in the AI-driven content market [13]. - A $69 million investment fund was launched to foster growth in the AI and digital economy sectors [14]. - The Century Mofy Vocational Education Institute was set up to address the demand for skilled talent in AI and digital content creation [15]. Membership and Recognition - Global Mofy was awarded membership in the Industrial Brand Promotion Organization by the Ministry of Industry and Information Technology (MIIT), highlighting its leadership in generative AI technology [18].