Spectral Capital Corporation Reports $26.1 Million in 2024 Audited Revenue for 42 Telecom Ltd.

Core Insights - Spectral Capital Corporation's newly acquired subsidiary, 42Telecom Ltd., achieved a 38% revenue growth, reaching US$26.1 million in FY2024, compared to US$18.9 million in FY2023 [9] - 42Telecom returned to profitability with a net income of US$524,000, reversing a loss of US$690,000 in the previous year [9] - The strong financial performance of 42Telecom is expected to positively impact Spectral's pending NASDAQ uplist application, showcasing operational growth and a strengthened balance sheet [6] Company Overview - 42Telecom Ltd. is a global leader in SMS-based communication technologies, providing secure messaging and two-factor authentication services to major enterprises and telecommunications carriers [2] - The company holds a significant market position in Vietnam and other international jurisdictions [2] Strategic Plans - 42Telecom plans to expand its service offerings by integrating Spectral's patents and advanced technologies, targeting the higher-margin U.S. SMS-based marketing and enterprise engagement sector [3] - This expansion strategy aims to enhance growth trajectories for both companies and accelerate Spectral's technology-driven communications platform initiative [3] Financial Highlights - Total Revenue: US$26.1 million (38% increase from US$18.9 million in 2023) [9] - Gross Profit: US$3.29 million (86% year-over-year increase) [9] - Operating Income: US$0.78 million (compared to a loss of US$0.85 million in 2023) [9] - Comprehensive Income: US$441,000 (compared to a loss of US$643,000 in 2023) [9] - Stockholders' Equity: US$1.30 million (up from US$864,000 in 2023) [9]