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FDCTech Inc (FDCT-0.86%) has submitted its 10-K filing for the fiscal year ending December 31, 2024.
The filing includes financial statements showing total revenues of $26,943,718 for the year, an increase from $12,754,900 in the previous year. This growth is attributed to the consolidation of Alchemy Markets Ltd's trading revenue.
The company reported a net income of $80,027 for the fiscal year, compared to a net loss of $1,573,176 in the previous year. The improvement is primarily due to the performance of the investment and brokerage business.
FDCTech's primary business segments include Investment and Brokerage, Wealth Management, and Technology and Software Development. The Investment and Brokerage segment generated $18,803,184 in revenue, accounting for 69.79% of total revenue.
The Wealth Management segment, represented by AD Advisory Services Pty Ltd, contributed $6,498,404 in revenue, while the Technology and Software Development segment generated $1,642,130.
General and administrative expenses increased to $11,191,357 from $2,943,913, reflecting the inclusion of expenses from recent acquisitions.
The company reported a working capital surplus of $9,417,247 as of December 31, 2024, compared to a deficit of $7,460,959 in the previous year, primarily due to the acquisitions of Alchemy Markets Ltd and Alchemy Prime Ltd.
FDCTech completed the acquisition of Alchemy Prime Ltd and the remaining shares of Alchemy Markets Ltd in 2023, both regulated entities in the UK and Malta, respectively.
The company continues to focus on expanding its market reach and developing next-generation trading platforms, including the Condor Pro Multi-Asset Trading Platform.
FDCTech's management intends to seek additional capital to support growth initiatives and enhance its technological offerings.
The filing also outlines various office leases, including locations in California, Australia, Cyprus, Malta, Israel, and the UK, with some classified as operating leases under ASC 842.
FDCTech identified no significant legal proceedings and reported no material unresolved staff comments or cybersecurity issues.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FDCTech Inc annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.