FDCTech Reports 285.3% Revenue Growth to $12.5 Million, Net Loss Improves

FDCTech, Inc. reported significant financial growth in its latest 10-Q filing for the six months ending June 30, 2024, with total revenues reaching $12.5 million, a substantial increase of 285.3% compared to $3.2 million in the same period last year. The company attributed this growth to its three primary business segments: Technology and Software Development, Wealth Management, and Investment and Margin Brokerage. Despite the revenue increase, FDCTech recorded a net loss of $211,830, an improvement from the $368,561 loss reported in the prior year.

The company’s operational metrics also showed notable changes. The Technology and Software Development segment generated $554,759 in revenue, up from $374,565, while the Wealth Management segment contributed $3.25 million, compared to $2.87 million previously. The newly established Investment and Margin Brokerage segment, which began operations in the last fiscal year, reported $8.7 million in revenue. This diversification in revenue streams reflects FDCTech's strategic focus on expanding its market presence and product offerings.

In terms of strategic developments, FDCTech completed significant acquisitions, including a 100% stake in Alchemy Prime Limited and a 49.90% interest in Alchemy Markets Holdings Ltd. on November 30, 2023. These acquisitions were executed through the issuance of Series B Preferred Stock valued at approximately $2.5 million. The company also plans to commercialize its Condor Investing & Trading App by the end of the second quarter of the fiscal year ending December 31, 2025, further enhancing its product portfolio.

Operationally, FDCTech reported an increase in its customer base and engagement metrics, with ten licensing agreements for its Condor Pro Multi-Asset Trading Platform as of June 30, 2024. The company’s employee headcount has also grown, reflecting its expansion efforts. As of the reporting date, FDCTech had 390,584,729 shares of common stock outstanding, indicating a slight increase from the previous period.

Looking ahead, FDCTech's management expressed optimism about future growth, emphasizing the need for additional capital to support its acquisition strategy and operational expansion. The company plans to seek funding through private equity or public markets to enhance its financial position. However, management acknowledged the inherent risks and uncertainties associated with its growth plans, particularly in light of ongoing geopolitical tensions and market conditions.