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Metalpha Reports Fiscal Year 2023 Financial Results
MATHMetalpha Technology (MATH) Prnewswire·2024-02-16 03:00

Core Insights - Metalpha Technology Holding Limited reported significant growth in its wealth management business, with the notional amount of derivative products issued reaching 382millioninFY2023,asubstantialincreasefrom382 million in FY 2023, a substantial increase from 49 million in FY 2022 [2][3] - The income generated from the wealth management business surged from 0.1millioninFY2022to0.1 million in FY 2022 to 5.7 million in FY 2023, indicating strong demand for its services [2][3] - The company recorded an adjusted loss of approximately 0.7millioninFY2023,anotableimprovementcomparedtothepreviousyear′sloss[1][5]FinancialHighlights−ThenotionalamountofderivativeproductsissuedinFY2023was0.7 million in FY 2023, a notable improvement compared to the previous year's loss [1][5] Financial Highlights - The notional amount of derivative products issued in FY 2023 was 382 million, compared to 49millioninFY2022[2][3]−Incomefromthewealthmanagementbusinessincreasedfrom49 million in FY 2022 [2][3] - Income from the wealth management business increased from 0.1 million in FY 2022 to 5.7millioninFY2023[2][3]−Theadjustedlossforthecompanywasapproximately5.7 million in FY 2023 [2][3] - The adjusted loss for the company was approximately 0.7 million in FY 2023, down from a larger loss in FY 2022 [5][10] Business Strategy - The company aims to maintain high growth rates while significantly lowering expenses as its business scales [3] - Metalpha is focused on innovating and diversifying its business offerings to expand its market share in Asia [3][6] - The company emphasizes compliance in its product design and services, reflecting a commitment to high-quality offerings for qualified investors [3][6]