Netcapital Inc. (Nasdaq: NCPL, NCPLW), a digital private capital markets ecosystem, has announced financial results for its fourth quarter and fiscal year 2023 ended April 30, 2023. Netcapital operates a FINRA-regulated funding portal that may issue securities under Reg CF.
Martin Kay, CEO of Netcapital Inc., said:
“Fiscal 2023 marked a year of strong performance, highlighted by revenue growth of 55% and operating income of more than $2 million. The value proposition of our business is becoming more evident as we continue to build scale and deliver a superior experience at a lower cost for issuers. We expect to offer secondary trading in private equities later in this year, a liquidity model that we believe will support expansion of both our investor and issuer communities, and generate a potential new revenue stream for Netcapital. As a back-to-back winner of the Fintech Breakthrough Award in 2022 and 2023, our brand is well-recognized for innovation and excellence, and well-positioned for value creation.”
Fiscal Year 2023 Highlights are as follows:
- Revenue growth of 55% year-over-year (YoY) to $8.5 million as compared to $5.5 million in fiscal 2022
- Operating income of $2.3 million compared to an operating loss of $1.0 million during fiscal year 2022
- Paid down $1 million in debt, and closed two underwritten public offering for aggregate gross proceeds of $6.7 million, and uplisted to Nasdaq in July 2022
For additional disclosure regarding operating results, please refer to the Annual Report on Form 10-K for the period ended April 30, 2023, which has been filed with the U.S. Securities and Exchange Commission.
As covered, Netcapital Inc. is a fintech company “with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors.”
The company’s consulting group, Netcapital Advisors, “provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies.”
The Netcapital funding portal has been “registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.”