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Asset Entities Inc. (ASST+2.15%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a revenue increase of 128.7% to approximately $0.6 million for the fiscal year ended December 31, 2024, compared to approximately $0.3 million for the previous year. This growth is attributed to an increase in the number of Discord server paying subscribers.
Operating expenses increased by 35.1% to approximately $7.0 million, primarily due to higher advertising, marketing, payroll, and administrative expenses.
The company reported a net loss of $6,393,932 for the fiscal year ended December 31, 2024, compared to a net loss of $4,931,197 for the previous year.
Asset Entities Inc. completed two private placements of Series A Preferred Stock in 2024, raising a total of $3 million. The company also commenced an 'at the market offering' of shares of Class B Common Stock, raising net proceeds of approximately $4.83 million.
The company had an accumulated deficit of $12,006,357 and a cash balance of $2,660,624 as of December 31, 2024.
Asset Entities Inc. continues to focus on expanding its Discord communities and social media presence, targeting Generation Z and other social media users with investment education and entertainment services.
The company provides social media marketing and content delivery services across Discord, TikTok, and other platforms, and has developed a subscription management and payment processing solution for Discord communities.
Asset Entities Inc. plans to continue expanding its business operations through strategic pricing, cross-marketing, and acquisitions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Asset Entities Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.