FDCTech Announces Positive 2024 Quarterly Results and Strategic Acquisitions

FDCTech, Inc. (OTC: FDCT) recently disclosed its financial results for the periods ending March 31, June 30, and September 30, 2024, in a press release dated December 31, 2024. The company, a fintech-driven entity specializing in acquiring and integrating small to mid-size legacy financial services firms, reported significant revenue growth and strategic expansion in the stated period.

As of September 30, 2024, FDCTech showcased a robust financial position, including cash on hand amounting to $27,989,417, a working capital surplus of $8,557,179, and net assets totaling $13,668,296. These figures reflect strategic reinvestments, acquisitions, and an overall enhancement in liquidity and financial strength compared to the prior year.

During the first quarter of 2024, FDCTech reported notable growth with total revenues reaching $6,376,335, representing a substantial increase of 312.52% compared to the same period in 2023. The company’s net income also saw a positive trend, amounting to $833,445 and marking a 471.45% upsurge from the previous year.

In the second quarter of 2024, FDCTech continued its growth trajectory with total revenues of $6,129,521, signifying a 260.47% rise from the same quarter in 2023. However, the net loss during this period stood at $1,045,275, attributed to increased operating expenses.

Moving to the third quarter of 2024, FDCTech generated total revenues of $5,673,008, a 53.20% increase from the previous year, mainly fueled by intensified brokerage operations. Despite a net loss of $649,565, the company’s performance remained solid amidst heightened operating expenses.

FDCTech’s consistent performance in the wealth management segment and substantial growth in technology and trading revenues underscore its strategic focus on expansion through acquisitions and innovative technology integration. The company anticipates further revenue acceleration in Q4 2024, supported by recent acquisitions. While increased operating expenses have impacted net income, FDCTech’s ongoing investments are fundamental for scaling operations and advancing technology solutions, paving the way for long-term shareholder value.

For comprehensive details on FDCTech’s financial results, interested parties can refer to the SEC filings or visit the company’s official website.

This press release contains forward-looking statements that might be subject to risks and uncertainties related to economic conditions, future market scenarios, and other factors. The company disclaims any liability for decisions made based on the information provided.

For additional information, media inquiries can be directed to FDCTech, Inc. via [email protected] or by visiting www.fdctech.com.

Please note that the aforementioned information is sourced from FDCTech’s 8-K filing and Exhibit 99.1.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FDCTech’s 8K filing here.

FDCTech Company Profile

FDCTech, Inc operates as a technology provider and software developer in the cryptocurrency or digital asset space. It operates Condor Pro Multi-Asset Trading Platform, a commercial trading platform primarily for day traders and retail investors. The company’s Condor Pro Multi-Asset Trading Platform includes risk management, pricing engine, and connectivity to liquidity providers or market makers.