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FDCTECH INC (symbol: FDCT) is based in New York and is a leading technology provider of Foreign Exchange Prime Brokerage (FXPB) and cryptocurrency solutions. Supported by a development team with over three decades of FX experience, FDCTECH's customizable B2B offerings allow brokers of all sizes to license its technology for seamless Metatrader 4 integration, advanced profitability analytics in real-time, flexible Introducing Broker (IB) rebate structures, and allotment of custom development hours to provide unparalleled customer service and individualized platform solutions.
Founder, Chief Executive Officer, and Director of FDCTECH INC, Mitch Eaglstein, is primarily responsible for leading the development and execution of the company's long-term strategy. His main focus is to enhance shareholder value by ensuring the company has the necessary organizational and technology infrastructure, deploying capex, and approving.
FDCTech (FDCT) has reported significant expansion in European markets through its subsidiary Alchemy Markets (AML) for the period ending September 30, 2024. The company achieved two notable client acquisitions: approximately 2,631 clients from Next Markets with 鈧�5.6 million in client equity, primarily German retail investors trading CFDs and equities, and 35 clients from a Cypriot-based brokerage with 鈧�800,000 in client equity, mostly French-speaking clients.
Additionally, AML secured authorization under Malta's Investment Services Act to offer equities and money market securities, enabling the company to provide stocks and interest-yielding products. These strategic moves mark FDCT's entry into both German and French retail markets, aligning with its strategy to scale operations and diversify revenue streams across European markets.
FDCTech (FDCT) reported its financial results for Q1-Q3 2024, showing significant revenue growth but mixed profitability. Cash position stood at $27.9M as of September 30, 2024, down from $31.3M in December 2023. The company achieved a working capital surplus of $8.5M, improving from a $7.4M deficit.
Revenue highlights include: Q1 2024 revenue of $6.3M (+312.52% YoY), Q2 2024 revenue of $6.1M (+260.47% YoY), and Q3 2024 revenue of $5.6M (+53.20% YoY). Nine-month revenue reached $18.1M, up 161.60% YoY. However, the company reported a net loss of $861,395 for the nine-month period, compared to a net income of $320,829 in the previous year, primarily due to increased operating expenses.
FDCTech, Inc. reported significant growth in its fiscal year-end results for December 31, 2022. The company achieved a 1,310% increase in annual revenue, amounting to $6,453,732, and a 2,310% increase in gross margin, reaching $1,018,940. Technology revenues rose by 108% to $626,000.
Despite this impressive revenue growth, FDCTech experienced a net loss of $1,043,045, although this represents a 40% decrease from the previous year's loss. The net loss as a percentage of revenue improved significantly from 379% to 16%. The company's cash balance also increased to $264,829 from $93,546 year-over-year. Upcoming acquisitions, including a stake in CIM Securities and NSFX Ltd., further illustrate the company's expansion strategy.
FDCTech, a fintech acquisition company, has amended the acquisition date for its purchase of a 50.10% stake in New Star Capital Trading Ltd. and its subsidiary NSFX Ltd. from December 31, 2022, to no later than June 30, 2023, complying with the BVI Companies Act. This acquisition allows FDCTech to consolidate NSFX's assets and liabilities once finalized. NSFX is regulated by the Malta Financial Services Authority and provides online trading services in multiple languages, offering clients access to currency, commodity, and cryptocurrency-linked derivatives. The firm aims to expand its digital financial services solutions and enhance its market presence.
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