NASDAQ:NCPL Netcapital Q2 2025 Earnings Report $1.88 -0.13 (-6.22%) As of 11:35 AM Eastern This is a fair market value price provided by Polygon.io. Learn more. Earnings History Netcapital EPS ResultsActual EPS-$2.34Consensus EPS -$1.40Beat/MissMissed by -$0.94One Year Ago EPSN/ANetcapital Revenue ResultsActual RevenueN/AExpected RevenueN/ABeat/MissN/AYoY Revenue GrowthN/ANetcapital Announcement DetailsQuarterQ2 2025Date12/16/2024TimeAfter Market ClosesConference Call DateMonday, December 16, 2024Conference Call Time4:00PM ETConference Call ResourcesConference Call AudioConference Call TranscriptPress Release (8-K)Quarterly Report (10-Q)Earnings HistoryCompany ProfilePowered by Netcapital Q2 2025 Earnings Call TranscriptProvided by QuartrDecember 16, 2024 ShareLink copied to clipboard.There are 5 speakers on the call. Operator00:00:01Good day, everyone, and welcome to the Nett Capital, Inc. 2nd Quarter Fiscal 2025 Conference Call. At this time, all participants have been placed on a listen only mode. It is now my pleasure to turn the floor over to your host, Corinne Kreisler, CFO of Net Capital Inc. Ma'am, the floor is yours. Speaker 100:00:30Thank you, Matthew. Good morning, everyone, and thank you for joining Net Capital's 2nd quarter fiscal 2025 financial results conference call. I'm Corinne Kreisler, CFO of Net Capital Inc. I will begin by reviewing our financial results and then our Chief Executive Officer, Martin Kaye, will share his prepared remarks before we open up the Q and A portion of our call. Before we begin, I'd like to remind everyone of the Safe Harbor disclosure regarding forward looking information. Speaker 100:01:06Management's discussion may include forward looking statements. These statements relate to future events or future financial performance and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward looking statements. Any forward looking statements reflect management's current views with respect to operations, results of operations, growth strategy, liquidity and future events. Net Capital assumes no obligation to publicly update or revise these forward looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward looking statements, even if new information becomes available in the future. With that said, I'd like to now turn to our financial results for the Q2 fiscal 2025. Speaker 100:02:16Revenues for Q2 fiscal 2025 for the period ended October 31, 2024 decreased by approximately $1,900,000 or approximately 92 percent to $170,528 as compared to approximately $2,040,000 in Q2 fiscal 2024. The decline in revenues was driven was attributed to the lack of consulting service revenue in Q2 2025 as compared to revenue of approximately $1,500,000 for consulting services for equity securities and $62,000 for consulting revenue in Q2 2024. I'm pleased to report that as of November 22, 2024, we received approval from FINRA for our broker dealer subsidiary, which will be a focus for the company moving forward. We reported an operating loss of $2,200,000 approximately for the Q2 fiscal 2025 as compared to an operating profit of $52,220 for the Q2 of fiscal 2024. Our net loss for the Q2 of fiscal 2025 was approximately $2,220,501 as compared to a net profit of approximately $339,616 for the same period in the prior year. Speaker 100:03:53We reported a loss per share of $2.34 for the Q2 ended October 31, 2024 compared to earnings per share of $2.52 for the same period in the prior year. As of October 31, 2024, the company had cash and cash equivalents Speaker 200:04:15of Speaker 100:04:17$1,346,739 I'll now turn the call over to our CEO, Martin Kaye. Speaker 200:04:23Thank you, Corine. I'd like to also thank everyone for being on this call today and for your interest and support of NET Capital. As Corine mentioned, during the quarter, we saw a decrease in revenue primarily due to the shift away from what is primarily non cash consulting service revenue. So with our focus on the broker dealer subsidiary, we believe that we will see greater potential and value added in that area. And as such, we've not been pursuing equity based revenue contracts. Speaker 200:04:56Recently, as Corinne mentioned, we were pleased to announce that our wholly owned subsidiary Net Capital Securities Inc. Had received approval from the Financial Industry Regulatory Authority or FINRA to become a FINRA member broker dealer. This marks a significant achievement for the company and it begins to open new opportunities for more revenue streams. We believe that by having Net Capital Securities Inc. As registered broker dealer, it could create new opportunities to expand the company's revenue base by hosting and generating additional freeze from Reg A and Reg D offerings on the Net Capital platform. Speaker 200:05:37This positions the company to support larger fundraisers and potentially expand the range of investment opportunities available to its investor base. Our broker dealer license allows us to conduct private placements of securities and referral business, support companies raising equity capital, as I mentioned under Regulation A and Regulation D, partner with other broker dealers to syndicate deals, charge fees on capital raised under Reg A and Reg D, as well as enter into fee sharing agreements with other broker dealers. Thank you for your continued interest and support of Net Capital and we look forward to keeping you informed of our progress. Netcapital and we look forward to keeping you informed of our progress. Operator, we're ready for questions. Operator00:06:27Certainly. Everyone at this time, we'll be conducting a question and answer Thank you. Your first Speaker 300:07:09Who is this? Who am I speaking to? Speaker 200:07:11You have Martin Kaye, the CEO and Corinne Kreisler, our CFO. Speaker 300:07:16Okay. Hey, Martin, I'm an investor and I'm also I do a lot of startups and we look at crowdfunding, what have you. But more so, I'm curious to see what is your capital structure? I know online it says you've got limited number of shares, but you guys trade crazy volumes based on what you have. Can you kind of provide an update on what that structure is? Speaker 200:07:42It's all common stock. I mean, there's nothing really complex about it. We're we trade on NASDAQ and we have a pretty diversified shareholder base and not uncommon for that to trade large volumes periodically. Speaker 300:08:03How many shares are outstanding now? Speaker 200:08:08I think we I'll defer to Corine, but I think it's approximately 1,800,000 shares outstanding. Speaker 300:08:17Okay. And then you have a number of warrants or what have you what are the cheapest warrants that are out there and how many are out? Speaker 200:08:32I don't know, Kareem, if you have that in front of you. Speaker 100:08:37I don't have that in front of me. Speaker 300:08:43Okay. And what's your net assets would do right now? I know you have a number of investments in other companies. What would you say your net asset value is? Speaker 200:08:54Well, if you're talking about the portfolio of equity securities and we talked about the business we had been in of taking equity in return for consulting services, that portfolio of equity positions is, I believe on the balance sheet we just disclosed is a little over $25,000,000 worth of net asset value in those equity positions. Speaker 300:09:18And what's your cash position and payables or liabilities? Speaker 200:09:24Again, cash and cash equivalents at the end of the quarter, a little over $1,300,000 Speaker 100:09:30And we're going to have to move on to the next questioner after this. Thank you. Operator00:09:42Thank you. Your next question is coming from Chris Sakai from Singular Research. Your line is live. Speaker 400:09:49Yes. Hi. Good morning. Just really wanted to get a sense and idea of what differentiates Net Capital Securities from other broker dealers? Speaker 200:10:09There's a number of things. Obviously, as we talked about the ability to support Reg A fundraising through the existing net capital platform where we've already built out an ecosystem and a marketplace that brings investors and other issuers together, obviously creates a platform and an environment that is unique to the sort of equity crowdfunding industry versus traditional broker dealer activities. So in other words, we already we have and then we've disclosed over 115,000 investor accounts and we have robust relationships with digital marketing providers and the team internally that understands how to bring the right investors to the right deal in this way and in this model, which is relatively unique. Obviously, we have competitors, a few competitors in our space, but it's not the traditional broker dealer business. Speaker 400:11:24Okay. Thanks for that. And also, does this new registration for broker dealer, does that provide any revenue visibility? Can you see any revenue streams new revenue streams from that? And what about how much would that be, do you think? Speaker 200:11:45Well, we haven't disclosed specifically what that forecast. It's not what we do. But as we discussed in our remarks, it certainly opens up the potential for new revenue streams. For example, we Reg A, as I'm sure you know, allows issuers to raise the greater amount up to $75,000,000 in a 12 month period versus $5,000,000 under Reg CF exemption. So that much larger raise and as a broker dealer, we are now able to structure a fee arrangement that is likely a percentage of that as opposed to some sort of flat fee. Speaker 200:12:35So that obviously is something that we plan to pursue. Speaker 400:12:43Do you see any large deals like that coming up? Speaker 200:12:47Well, again, we haven't disclosed specifics of deals that we're pursuing, but safe to assume that, again, we are out in the marketplace talking to issuers all the time and have been we've had almost 300 companies successfully raised on our platform. Many of those have gone on to raise additional rounds of capital and are obviously candidates also for Reg A. So, yes, we're in active discussions and have been for some time with companies who'd like to raise more capital than they can under Reg CF exemption. Operator00:13:35Your next question is coming from John Gilliam from Point Clear Strategic Capital. Speaker 300:13:43Last quarter, you indicated that you expected the 10th platinum ATS exchange to open up from the beta to a full launch in the quarter ended this month. And wanted to just get an update there if it's still expected to launch in 'twenty four? Speaker 200:14:08Well, what I can say and what we've said, I think previously is the technical and product build out is complete, as you mentioned, in partnership with the Templin ATS. But I think it's safe to say we're still working through some details of the regulatory framework governing secondary exchanges. And it's really important to us to make sure that we don't roll out or open up to everyone a capability that we're still wanting to get to be exactly right. So we're still working on that. And again, I think it's prudent for us to not do anything before we feel 100% comfortable that we have the best product experience and that we have that we're operating within the regulatory framework in a way that we need to. Speaker 200:15:10So again, we haven't really talked or disclosed official timeline for launching that secondary transfer functionality, but that's all I can at this point. Speaker 300:15:27Well, you on the prior call, you mentioned you thought it would be in the year, the calendar year ended 'twenty four. Are you feeling like that's going to push into Q3 into past end of Q3 into Q4? I think that's right. How far out do you think we're looking? Speaker 200:15:47Again, I don't think I can confidently predict that at this point. Operator00:15:59Thank you. That concludes our Q and A session. I'll now hand the conference back to CFO, Corinne Kreisler, for closing remarks. Please go ahead. Speaker 100:16:07Thank you, everyone, for joining our call today. We really appreciate you as shareholders and potential shareholders. We are excited about the prospects ahead for our new broker dealer subsidiary and wish you all a wonderful holiday season. Thank you. Operator00:16:24Thank you all. Thank you, everyone. This concludes today's event. You may disconnect at this time and have a wonderful day. Thank you for your participation.Read morePowered by Conference Call Audio Live Call not available Earnings Conference CallNetcapital Q2 202500:00 / 00:00Speed:1x1.25x1.5x2x Earnings DocumentsPress Release(8-K)Quarterly report(10-Q) Netcapital Earnings HeadlinesComparing Bakkt (NYSE:BKKT) and Netcapital (NASDAQ:NCPL)April 27, 2025 | americanbankingnews.comNetcapital Portfolio Company Acquires Spellbook StudioApril 23, 2025 | globenewswire.comElon Reveals Why There Soon Won’t Be Any Money For Social SecurityElon Musk's Near-Death Experience Sparks Dire Warning for Americans After cheating death twice—once in a terrifying supercar crash with billionaire Peter Thiel, then from a deadly strain of malaria—Elon Musk emerged with a stark warning for Americans about looming financial dangers. Discover the little-known Trump IRS loophole that thousands are now using to safeguard their retirement from inflation and market turmoil—before it's too late.May 6, 2025 | Colonial Metals (Ad)Netcapital says MAGFAST raises over $10M through offerings on platformApril 18, 2025 | markets.businessinsider.comMAGFAST Raises More Than $10 Million Across Multiple Offerings on NetcapitalApril 17, 2025 | globenewswire.comNetcapital files to sell 721,153 shares of common stock for holdersApril 16, 2025 | markets.businessinsider.comSee More Netcapital Headlines Get Earnings Announcements in your inboxWant to stay updated on the latest earnings announcements and upcoming reports for companies like Netcapital? Sign up for Earnings360's daily newsletter to receive timely earnings updates on Netcapital and other key companies, straight to your email. Email Address About NetcapitalNetcapital (NASDAQ:NCPL) operates as a fintech company. It offers Netcapital.com, an SEC-registered funding portal that enables private companies to raise capital online, as well as allows investors to invest from anywhere in the world. The company also provides various services, including automated onboarding process and filing of required regulatory documents; compliance review; custom-built offering page on its portal website; third party transfer agent and custodial services; and rolling closes which provides access to liquidity before final close date of offerings, as well as assistance with annual fillings and direct access to team for ongoing support. In addition, it offers advisor services, which includes incubation of technology start-ups; investors introduction; online marketing; website design and software development; message crafting including pitch decks, offering pages, and ad creation; strategic advice; and technology consulting services. Further, the company provides valuation services, such as business valuation, fairness and solvency opinions, ESOP feasibility and valuation, non-cash charitable contribution, economic analysis of damages, intellectual property appraisals, and compensation studies. 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There are 5 speakers on the call. Operator00:00:01Good day, everyone, and welcome to the Nett Capital, Inc. 2nd Quarter Fiscal 2025 Conference Call. At this time, all participants have been placed on a listen only mode. It is now my pleasure to turn the floor over to your host, Corinne Kreisler, CFO of Net Capital Inc. Ma'am, the floor is yours. Speaker 100:00:30Thank you, Matthew. Good morning, everyone, and thank you for joining Net Capital's 2nd quarter fiscal 2025 financial results conference call. I'm Corinne Kreisler, CFO of Net Capital Inc. I will begin by reviewing our financial results and then our Chief Executive Officer, Martin Kaye, will share his prepared remarks before we open up the Q and A portion of our call. Before we begin, I'd like to remind everyone of the Safe Harbor disclosure regarding forward looking information. Speaker 100:01:06Management's discussion may include forward looking statements. These statements relate to future events or future financial performance and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward looking statements. Any forward looking statements reflect management's current views with respect to operations, results of operations, growth strategy, liquidity and future events. Net Capital assumes no obligation to publicly update or revise these forward looking statements for any reason or to update the reasons actual results could differ materially from those anticipated in these forward looking statements, even if new information becomes available in the future. With that said, I'd like to now turn to our financial results for the Q2 fiscal 2025. Speaker 100:02:16Revenues for Q2 fiscal 2025 for the period ended October 31, 2024 decreased by approximately $1,900,000 or approximately 92 percent to $170,528 as compared to approximately $2,040,000 in Q2 fiscal 2024. The decline in revenues was driven was attributed to the lack of consulting service revenue in Q2 2025 as compared to revenue of approximately $1,500,000 for consulting services for equity securities and $62,000 for consulting revenue in Q2 2024. I'm pleased to report that as of November 22, 2024, we received approval from FINRA for our broker dealer subsidiary, which will be a focus for the company moving forward. We reported an operating loss of $2,200,000 approximately for the Q2 fiscal 2025 as compared to an operating profit of $52,220 for the Q2 of fiscal 2024. Our net loss for the Q2 of fiscal 2025 was approximately $2,220,501 as compared to a net profit of approximately $339,616 for the same period in the prior year. Speaker 100:03:53We reported a loss per share of $2.34 for the Q2 ended October 31, 2024 compared to earnings per share of $2.52 for the same period in the prior year. As of October 31, 2024, the company had cash and cash equivalents Speaker 200:04:15of Speaker 100:04:17$1,346,739 I'll now turn the call over to our CEO, Martin Kaye. Speaker 200:04:23Thank you, Corine. I'd like to also thank everyone for being on this call today and for your interest and support of NET Capital. As Corine mentioned, during the quarter, we saw a decrease in revenue primarily due to the shift away from what is primarily non cash consulting service revenue. So with our focus on the broker dealer subsidiary, we believe that we will see greater potential and value added in that area. And as such, we've not been pursuing equity based revenue contracts. Speaker 200:04:56Recently, as Corinne mentioned, we were pleased to announce that our wholly owned subsidiary Net Capital Securities Inc. Had received approval from the Financial Industry Regulatory Authority or FINRA to become a FINRA member broker dealer. This marks a significant achievement for the company and it begins to open new opportunities for more revenue streams. We believe that by having Net Capital Securities Inc. As registered broker dealer, it could create new opportunities to expand the company's revenue base by hosting and generating additional freeze from Reg A and Reg D offerings on the Net Capital platform. Speaker 200:05:37This positions the company to support larger fundraisers and potentially expand the range of investment opportunities available to its investor base. Our broker dealer license allows us to conduct private placements of securities and referral business, support companies raising equity capital, as I mentioned under Regulation A and Regulation D, partner with other broker dealers to syndicate deals, charge fees on capital raised under Reg A and Reg D, as well as enter into fee sharing agreements with other broker dealers. Thank you for your continued interest and support of Net Capital and we look forward to keeping you informed of our progress. Netcapital and we look forward to keeping you informed of our progress. Operator, we're ready for questions. Operator00:06:27Certainly. Everyone at this time, we'll be conducting a question and answer Thank you. Your first Speaker 300:07:09Who is this? Who am I speaking to? Speaker 200:07:11You have Martin Kaye, the CEO and Corinne Kreisler, our CFO. Speaker 300:07:16Okay. Hey, Martin, I'm an investor and I'm also I do a lot of startups and we look at crowdfunding, what have you. But more so, I'm curious to see what is your capital structure? I know online it says you've got limited number of shares, but you guys trade crazy volumes based on what you have. Can you kind of provide an update on what that structure is? Speaker 200:07:42It's all common stock. I mean, there's nothing really complex about it. We're we trade on NASDAQ and we have a pretty diversified shareholder base and not uncommon for that to trade large volumes periodically. Speaker 300:08:03How many shares are outstanding now? Speaker 200:08:08I think we I'll defer to Corine, but I think it's approximately 1,800,000 shares outstanding. Speaker 300:08:17Okay. And then you have a number of warrants or what have you what are the cheapest warrants that are out there and how many are out? Speaker 200:08:32I don't know, Kareem, if you have that in front of you. Speaker 100:08:37I don't have that in front of me. Speaker 300:08:43Okay. And what's your net assets would do right now? I know you have a number of investments in other companies. What would you say your net asset value is? Speaker 200:08:54Well, if you're talking about the portfolio of equity securities and we talked about the business we had been in of taking equity in return for consulting services, that portfolio of equity positions is, I believe on the balance sheet we just disclosed is a little over $25,000,000 worth of net asset value in those equity positions. Speaker 300:09:18And what's your cash position and payables or liabilities? Speaker 200:09:24Again, cash and cash equivalents at the end of the quarter, a little over $1,300,000 Speaker 100:09:30And we're going to have to move on to the next questioner after this. Thank you. Operator00:09:42Thank you. Your next question is coming from Chris Sakai from Singular Research. Your line is live. Speaker 400:09:49Yes. Hi. Good morning. Just really wanted to get a sense and idea of what differentiates Net Capital Securities from other broker dealers? Speaker 200:10:09There's a number of things. Obviously, as we talked about the ability to support Reg A fundraising through the existing net capital platform where we've already built out an ecosystem and a marketplace that brings investors and other issuers together, obviously creates a platform and an environment that is unique to the sort of equity crowdfunding industry versus traditional broker dealer activities. So in other words, we already we have and then we've disclosed over 115,000 investor accounts and we have robust relationships with digital marketing providers and the team internally that understands how to bring the right investors to the right deal in this way and in this model, which is relatively unique. Obviously, we have competitors, a few competitors in our space, but it's not the traditional broker dealer business. Speaker 400:11:24Okay. Thanks for that. And also, does this new registration for broker dealer, does that provide any revenue visibility? Can you see any revenue streams new revenue streams from that? And what about how much would that be, do you think? Speaker 200:11:45Well, we haven't disclosed specifically what that forecast. It's not what we do. But as we discussed in our remarks, it certainly opens up the potential for new revenue streams. For example, we Reg A, as I'm sure you know, allows issuers to raise the greater amount up to $75,000,000 in a 12 month period versus $5,000,000 under Reg CF exemption. So that much larger raise and as a broker dealer, we are now able to structure a fee arrangement that is likely a percentage of that as opposed to some sort of flat fee. Speaker 200:12:35So that obviously is something that we plan to pursue. Speaker 400:12:43Do you see any large deals like that coming up? Speaker 200:12:47Well, again, we haven't disclosed specifics of deals that we're pursuing, but safe to assume that, again, we are out in the marketplace talking to issuers all the time and have been we've had almost 300 companies successfully raised on our platform. Many of those have gone on to raise additional rounds of capital and are obviously candidates also for Reg A. So, yes, we're in active discussions and have been for some time with companies who'd like to raise more capital than they can under Reg CF exemption. Operator00:13:35Your next question is coming from John Gilliam from Point Clear Strategic Capital. Speaker 300:13:43Last quarter, you indicated that you expected the 10th platinum ATS exchange to open up from the beta to a full launch in the quarter ended this month. And wanted to just get an update there if it's still expected to launch in 'twenty four? Speaker 200:14:08Well, what I can say and what we've said, I think previously is the technical and product build out is complete, as you mentioned, in partnership with the Templin ATS. But I think it's safe to say we're still working through some details of the regulatory framework governing secondary exchanges. And it's really important to us to make sure that we don't roll out or open up to everyone a capability that we're still wanting to get to be exactly right. So we're still working on that. And again, I think it's prudent for us to not do anything before we feel 100% comfortable that we have the best product experience and that we have that we're operating within the regulatory framework in a way that we need to. Speaker 200:15:10So again, we haven't really talked or disclosed official timeline for launching that secondary transfer functionality, but that's all I can at this point. Speaker 300:15:27Well, you on the prior call, you mentioned you thought it would be in the year, the calendar year ended 'twenty four. Are you feeling like that's going to push into Q3 into past end of Q3 into Q4? I think that's right. How far out do you think we're looking? Speaker 200:15:47Again, I don't think I can confidently predict that at this point. Operator00:15:59Thank you. That concludes our Q and A session. I'll now hand the conference back to CFO, Corinne Kreisler, for closing remarks. Please go ahead. Speaker 100:16:07Thank you, everyone, for joining our call today. We really appreciate you as shareholders and potential shareholders. We are excited about the prospects ahead for our new broker dealer subsidiary and wish you all a wonderful holiday season. Thank you. Operator00:16:24Thank you all. Thank you, everyone. This concludes today's event. You may disconnect at this time and have a wonderful day. Thank you for your participation.Read morePowered by