MDB Capital Holdings, LLC reported a significant financial performance for the fiscal year ending December 31, 2024, with a net income of $11.7 million, a substantial increase from a net loss of $6.97 million in the previous year. This turnaround was primarily driven by a gain of $39.3 million related to the deconsolidation of eXoZymes, which completed its IPO on November 14, 2024, reducing MDB's ownership from approximately 60% to 47%. Total operating income for the year was $2.16 million, down 64% from $6 million in 2023, largely due to decreased investment banking activity and unrealized losses on investment securities.
The company experienced a notable increase in operating costs, which rose to $30.8 million from $14.5 million in 2023, reflecting a 112% increase. This rise was attributed to higher compensation expenses, professional fees, and costs associated with the initiation of self-clearing operations. Compensation expenses alone surged by 132.5% to $20.1 million, driven by the recognition of restricted stock units and recruitment efforts. Research and development costs also increased significantly, reflecting MDB's commitment to advancing its technology segment.
MDB's operational developments included the launch of self-clearing operations by its subsidiary, Public Ventures, which began in January 2024. This strategic move is expected to enhance the company's capabilities in managing securities transactions and increase its market presence. Additionally, MDB's partner company, MDB Minnesota One, is in the pre-clinical development stage of a small molecule anti-senescence platform, which aims to address age-related diseases. The company has entered into a licensing agreement with the Mayo Foundation for Medical Education and Research to develop this platform.
As of December 31, 2024, MDB reported total assets of $72 million, a 67% increase from the previous year, primarily due to cash inflows from the deconsolidation of eXoZymes. The company also maintained a strong cash position of $21.3 million, with working capital of $19.8 million. Looking ahead, MDB anticipates continued growth through its public venture model, focusing on identifying and developing new partner companies while navigating the complexities of the regulatory environment and market conditions. The company remains committed to enhancing its internal controls and financial reporting processes to support its long-term objectives.
About MDB Capital Holdings, LLC
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.