Mag Mile Capital Reports 46.5% Revenue Growth and Net Income Recovery in Q1 2025

Mag Mile Capital, Inc. reported a significant increase in financial performance for the first quarter of 2025, with revenues reaching $780,500, a 46.5% increase from $532,593 in the same period of 2024. The company attributed this growth primarily to the origination of several large loans through Commercial Mortgage-Backed Securities (CMBS). Despite the rise in revenue, commission expenses also increased, totaling $344,020 compared to $226,339 in the prior year, reflecting a 52% rise. The net income for the quarter was $9,714, a notable recovery from a net loss of $65,776 in the first quarter of 2024.

In terms of operational metrics, Mag Mile Capital's gross profit improved to $256,080 from $200,089 year-over-year. The company managed to reduce its total operating expenses to $244,173 from $263,672, primarily through lower payroll expenses, which decreased by 10.6% to $70,638. The overall reduction in operating expenses, combined with increased revenue, contributed to the positive shift in net income.

The company’s balance sheet as of March 31, 2025, showed total assets of $850,134, up from $713,218 at the end of 2024. Current liabilities also increased to $637,953 from $510,751, largely due to higher accounts payable and accruals. The total stockholders' equity improved slightly to a deficit of $156,864 from $166,578, indicating a gradual recovery in financial health. Cash reserves rose significantly to $140,134 from just $484 at the end of the previous fiscal year, reflecting improved cash flow management.

Mag Mile Capital continues to expand its operational footprint, with a national presence across several states, including New York, Massachusetts, and Texas. The company is focused on leveraging its public company status to attract new customers and enhance its sales and marketing efforts. Additionally, it is exploring strategic acquisitions to bolster growth. The firm has developed a commercial real estate origination software platform, CapLogiq, aimed at increasing efficiency in the loan closing process.

Looking ahead, Mag Mile Capital acknowledges the challenges posed by a working capital deficit of $35,860 and the need for continued profitable operations or financing to meet its obligations. The company plans to utilize the exercise of warrants to support its growth initiatives over the next twelve months. Management remains optimistic about future performance, driven by its strategic focus on expanding its customer base and enhancing operational efficiencies.