Netcapital (NCPL) 13 Dec 222023 Q2 Earnings call transcript

Good morning, ladies and gentlemen, and welcome to the Netcapital Fiscal 2023 Second Quarter Earnings Conference Call. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Ms. Coreen Kraysler, CFO of Netcapital. Coreen, the floor is yours.

Thank you, Jenny. thank the joining XXXX second XX, and conference financial ended everybody, XXXX. for call quarter morning, you Netcapital's for results October Good of fiscal Net Coreen Inc. CFO is of This Kraysler, Capital a review I will begin of financial results. our with Portal, addition Jason follow update of to Cecilia CEO our with and will Inc., will of Frishman, Board platform; Netcapital Netcapital our discuss an of Lenk, CEO Funding on the Directors. recent

achievements information. to to like harbor we your unknown discussion involve or forward-looking to these different and cause the forward-looking I'd any implied actual safe other These future forward-looking to performance Before customary relate statements. risks, known disclosure regarding or statements. factors from attention that of call may Management's expressed uncertainties, include future may and levels future to by materially be begin, and results, statements results events performance, financial activity, or

second respect we year Net growth update in anticipated quarter Netcapital Any obligation of forward-looking becomes views of an for in actual the reflect a in $XXX,XXX statements results services for the the ago equity year loss had million We future. I'll quarter quarter $XXX,XXX our or revise second to even the increased these per per if strong generated to for available the year-over-year with share any quarter. and with current share statements financial a events. $X.X securities. in to differ total could second fiscal operating in results in future new of compared consulting $X.X reasons revenues expansion, revenue quarter, operations, and income these review a compared for for $XXX,XXX loss operations, million $X.XX share forward-looking quarter. reason management's assumes was XXXX. Diluted of for were begin compared information to now publicly results liquidity, our to the the XXXX. fiscal update positive forward-looking quarter operating or to $X.XX the loss earnings of the to of statements this income for materially ago those XX% of no quarter from compared second net a particularly by Led second per the ago quarter to year strategy,

to XXXX, For the fiscal income positive X of operating Diluted year in capital a months loss XX% share equivalents the October and the to months X to XXXX. million operating months in Net an of $X.XX of $X.X increased year $X.X million. cash XXXX. fiscal year-over-year revenue we XX, $X.X had X year share per compared per million XX, of loss first of earnings of generated to $XXX,XXX cash compared at of April compared first fiscal $X.XX XXXX. as At XXXX,

XX, securities of million April totaled XXXX, the As XXXX. I'll CEO value Netcapital XX, Jason? compared Frishman, equity call at fair at turn to of Jason $XX.X million over Portal. October to Funding the $XX.X now

Coreen. you, Thank

past the of year, have We in months. and X exciting featured releases we've a over many press number hosted this offerings them

financing and backed client Group, Breakthrough Ventures. first portal. Markets funding Some Global EnergyX, GEM. examples was of a commitment a Fund Global Energy us rounds Energy Bill capital of Global, recently or start-up completed X include Vantem start-up that Banton lithium among financing firm by Emerging private round from that of completed which equity the now through Advisors, received a Gates million Netcapital investment is $XXX with

out wireless through has the $X MAGFAST, success than more stories X past our previously magnetic MAGFAST platform the developer digital X few Technologies some [indiscernible]. to support months, Multiple last million including and in sold offerings KMX relaunched months. a ecosystem. discussed And of offering premium are we've on These and are in market raised have offerings previously private new of chargers. the Netcapital privileged the a we

is of to support our our as expand in see attracting build, a in platform entrepreneurs missions to of start-ups mentor that One subsequent it's their and succeeded the funding on business truly and they journeys rewarding prosper. and

see to call economic continue to the CEO Netcapital our grow stronger Lenk, We Cecilia even Dr. business now will during Board turn and and of I climates. of the tough over Inc. Chairman

of involved Scott and with an and capital as Coreen is recently and with our corporate Arnie on filled Arnie our deeply Jason. we all years governance venture and advisory has entrepreneurship, executive strategic business It capital, and of an welcomed management, services which a of chair He boards. experience to director fundamental in and inception. to capital you, since strategy, in investor great leader adviser startup expert been that businesses pleasure in Directors. Board is corporate the is are provide various private accomplished Thank we and advisory. markets net XX as He business

Angela the Mr. Boston Greater for a years, Directors community more currently as investing XX than As the serves member founding of Scott an participant of in Private active Association.

Network. for Commons Previously, of Asset and of Chairman the also Alderson Bank, he Trustees a member delighted is AI in at as Mr. Senior so of University retiring company. XX management Investment success He you including us. has boards, and Link are served Vice EMO, Arnie, and Corp, served International, on MFS the Vice to hub Nutraceuticals, years XXXX. served for has Best Scott have Chairman and Management for Broaddus SEVO and Board Director join as a we over Neuron advisory of First of Capital Executive number Resources Mark, President

future. half to thank date for in Netcapital We in interest delivering investment and company's XXXX. the your our you ready to and very questions. look forward continuing Operator, growth of in are We with strong first to are now pleased year fiscal we performance take

Nelson first Nelson [Operator from Instructions] Your is of Inc. question Mark coming

are I X the your this... some profitable What in that factors led to become have ability primary of far have today. questions to so

well? question your Do as second you want to ask

you on the be, raised already that progress platform? a the can will question provide providing securities market on second you've update for new a The secondary

will the the let and I question, take Sure. I take question. Jason first will second

had consulting equity a So large had the to in quarter quarter. want with take portfolio profitability second we to a contract we you led company, good in an question? that and do the the Jason, and business, the

is and APS a can't on important Yes, specific is system. an solve I'm specific our providing I can't provide at something provide that us this very path thanks questions. but can the important through Mark, for time, a liquidity at to. happy this respect that to view I to with comment is as it you problem to tell I us to that we trading comment for the but something and to growth, alternative That important time.

just that with screen. high up it's I on that So will up follow radar by our saying very

Next question operator.

] Frank [ next private is Your from who is question investor. coming a Draper

you Mark you the the pass do guys is think to? hold, to have into equity I a I needed turn question had. other I time I you out cash that question facility the guess other have only if

And talking portions So several do investment assume private by hold, do we securities that to are selling I our that over subset had those interest those time be screen total can have One on equity monetize another private to and of that companies, of and also which or which some and to IPO-ing the portfolio is there well. portions portions companies. would those expressed path you're time we in those time ways are certainly about we we is from other we intend companies monetization investors, that. to radar specific And own. that as

gentlemen. much, ladies and you Thank very

back [Operator any Instructions] have Just any questions if questions. to further over have any remarks. We now you a hand do will reminder, for appear to closing Coreen don't I

holiday you demonstrated with results your so Thank much. today. interest far, very we have Netcapital, we Thank season. very you. and you, happy you right. for everyone, us so all and All we joining very We're in that and Thank a pleased wish the much appreciate healthy

This you conclude thank and conference today's Ladies call. gentlemen, does much. very

may You lines Thank for participation. your and a at disconnect day. your this you wonderful have time, phone