OLB Group Reports $2.32 Million Revenue in Q1 2025, Down 33.6% Year-Over-Year

The OLB Group, Inc. reported a total revenue of $2.32 million for the first quarter of 2025, a decline of 33.6% from $3.50 million in the same period of 2024. The decrease in revenue was primarily attributed to a reduction in earnings from its Moola Cloud, LLC subsidiary, as the company transitions to new vendors. Transaction and processing fees accounted for the majority of revenue at $2.06 million, down from $2.29 million year-over-year. Other revenue sources included $85,482 from bitcoin mining and $93,016 from digital product sales, both of which also saw significant declines compared to the previous year.

The company's operating expenses for the quarter were $3.17 million, a substantial decrease from $6.38 million in the prior year, reflecting cost-cutting measures and a reduction in headcount. Notably, salaries and wages fell by 47.7% to $531,356, while professional fees dropped by 88% to $77,573. The net loss for the quarter was reported at $1.09 million, a significant improvement from the $2.40 million loss recorded in the same quarter of 2024.

In terms of strategic developments, OLB Group is in the process of spinning off its bitcoin mining segment, DMINT, into a standalone entity, which is expected to occur within the next twelve months. This move aims to allow DMINT to raise capital independently, leveraging its assets, including a data center in Tennessee. The company also completed the acquisition of 100% of Moola Cloud, LLC, which operates a platform for underbanked communities, enhancing its market reach.

Operationally, OLB Group reported a customer base processing over $100 million in gross transactions monthly, with approximately 1.4 million transactions per month. The company has integrated its OmniSoft applications with its eVance mobile payment gateway, which is currently utilized by around 3,000 merchants. As of March 31, 2025, the company had cash reserves of $29,340 and accounts receivable of $127,688, indicating a need for improved liquidity management as it navigates ongoing operational challenges.

Looking ahead, OLB Group's management expressed confidence in its ability to fund planned expenditures over the next twelve months, although they acknowledged the potential need for additional capital to support business operations. The company is actively pursuing its ATM equity program, which has raised approximately $1.28 million to date, and is exploring further financing options to ensure continued operations and growth.