Onfolio (US:ONFO) Globenewswireยท2025-04-16 12:00Core Insights - Onfolio Holdings Inc. reported its financial results for Q4 and the full year of 2024, marking a significant milestone with a positive net income for the first time as a publicly traded company [3][7] - The company achieved a revenue growth of 96% in Q4 2024 compared to the same period in the previous year, reaching $2.49 million [7] - Onfolio's CEO emphasized the company's commitment to growth and profitability, outlining goals for 2025 to build on the foundations laid in 2024 [4] Financial Highlights - Q4 2024 net income was recorded at $136,000, a significant improvement from a net loss of $900,000 in the prior year [7] - Total revenue for 2024 grew by 49% year-over-year to $7.82 million, up from $5.24 million in 2023 [7] - Gross profit for 2024 increased by 39% to $4.5 million compared to $3.24 million in 2023 [7] - Total operating expenses decreased by 44% to $7.05 million in 2024 from $12.54 million in 2023 [7] - The company reported a net loss to common shareholders of $2.15 million for 2024, an improvement of 77% from a loss of $9.43 million in 2023 [7] Operational Developments - Onfolio completed the acquisition of Eastern Standard, a digital web agency, in October 2024 [7] - The company launched a new Reg D offering for its Series A Preferred Shares in February 2025 to raise additional capital for future acquisitions [4] - Cash at the end of 2024 was reported at $0.48 million, down from $0.98 million at the end of 2023 [7] Strategic Focus - Onfolio aims to acquire and manage online businesses with stable cash flows and long-term growth potential [5] - The company is focused on reducing operating expenses and raising non-dilutive capital to support its growth strategy [4] - The management team believes that the progress made in 2024 sets a strong foundation for continued growth in 2025 [4]