FDCTech, Inc. has reported significant financial growth for the fiscal year ending December 31, 2024, with total revenues reaching $26.9 million, a substantial increase of 111.24% compared to $12.8 million in the previous year. The company achieved a net profit of $80,027, a decrease from the prior year's profit of $1.57 million, primarily due to increased general and administrative expenses associated with its recent acquisitions. The company’s accumulated deficit as of December 31, 2024, stands at $2.56 million, down from $2.64 million in 2023.
The company has made notable strategic advancements, including the acquisition of Alchemy Markets Ltd. and Alchemy Prime Ltd. in late 2023, which have contributed to its revenue growth. Alchemy Markets reported revenues of $4.87 million for the fiscal year 2024, while Alchemy Prime generated $13.93 million. Additionally, FDCTech's wealth management subsidiary, AD Advisory Services, saw revenues increase to $6.50 million from $5.93 million in the previous year. The company has also expanded its operational footprint, acquiring approximately 2,631 clients from Next Markets, marking its entry into the German retail market.
Operationally, FDCTech has increased its employee headcount and expanded its geographic reach, with its subsidiaries now authorized to operate in multiple European markets. The company has established a total of 14 licensing agreements for its Condor Pro Multi-Asset Trading Platform, which is available in desktop, web, and mobile formats. The company’s technology and software development segment generated $1.64 million in revenue, although this was a decline from $1.81 million in 2023.
Looking ahead, FDCTech plans to continue its growth trajectory by focusing on enhancing its technological offerings and expanding its customer base. The company has announced a Letter of Intent to acquire Alchemy Global Ltd., a move aimed at establishing a stronger presence in the Middle Eastern and Asian markets. Management believes that its current cash reserves of approximately $24.78 million, along with anticipated revenue growth, will be sufficient to support ongoing operations and strategic initiatives for at least the next 12 months. However, the company acknowledges that additional capital may be required to fund its growth plans and is exploring various financing options.
About FDCTECH, INC.
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