- Annual revenue: $63.2 million, gross profit: $30.2 million, net
income p/s: $(0.0045)
- 4Q2024 revenue: $15.7 million, gross profit: $6.6 million, net
income p/s: $0.0014
- Total liabilities decreased to $31.2 million in 4Q2024 from $46
million in 3Q2024
Exxe Group, Inc. (OTC PINK: AXXA), ("Exxe" or the "Company"),
releases its full-year results for 2024 and Fourth Quarter results
for the period ending March 31, 2024.
Key Financial Highlights Annual revenue growth:
Increased by $10.1 million, or 19%, from $53.1 million in FY2023 to
$63.2 million in FY2024.
Fourth Quarter revenue growth: Increased by $739,612, or
4.9%, from $14.9 million in 4Q2023 to $15.7 million in 4Q2024.
Revenue per share for 4Q2024: $0.0014 compared to $0.0058
in 4Q2023, primarily due to a one-time loss of $3.4 million from
the disposal of non-core assets.
Long-term debt reduction: Decreased by $21.9 million, or
(51.2%), from $44.9 million in 4Q2023 to $23.0 million in
4Q2024.
Total liabilities reduction: Decreased by $31.4 million,
or (49.8%), from $62.6 million in 4Q2023 to $31.2 million in
4Q2024.
Significant Events On March 31, 2024, Exxe Group
completed several key transactions and events that reflect the
evolution of its business and favorably position the Company for
future growth. We reclassified certain assets, including
acquisitions and investments, and optimized our operations to
facilitate an overall company audit.
A core transaction was the disposition of our subsidiary,
Myle-One Beteiligungen AG, to minority interest holders while
forming a joint venture. This reduced the carrying costs of certain
assets, significantly decreasing debts and interest, and retained
benefits for our shareholders through alternative agreements and
contracts.
In addition, Exxe Group formed agreements to acquire services
from multiple existing and new service providers. Collectively, the
services agreements allow Exxe to provide platform services to
client companies under joint venture agreements, including licenses
and territory distribution rights.
Exxe Group acquired territory distribution licensing rights for
businesses in industries such as fintech, media, architectural and
interior design, furniture, medical products, medical devices, and
automotive repair and products. We also acquired rights in
additional, currently undisclosed industry segments.
These steps were designed to accelerate the execution of Exxe's
business plan. Our ultimate goal is to leverage these initiatives
to enhance value and deliver significant benefits to our
investors.
Finally, Exxe secured an agreement with a broker-dealer to
implement a share buyback strategy.
Subsequent Events and Audits Exxe Group has set a
corporate-level audit as a management objective. We engaged an
audit prep company and an auditing firm to advise us on achieving
this goal.
As of July 12, 2024, Exxe Group completed the preparation of two
years of books for Designarchive AG as requested by the auditor.
Management is focused on simplifying the process to facilitate
overall company audits, marking a significant milestone in our
strategy.
Management Comments Dr. Eduard Nazmiev, Exxe Group CEO,
stated: "Exxe Group made several strategic moves over the reporting
period. Our optimized operations around licensing and contracts
generated over $63 million in annual revenues and $15.7 million in
quarterly revenues. Looking ahead, the evolution of our core
capabilities and competencies enhances our business positioning and
operations. These changes set the stage for diverse revenue and
profit growth in multiple sectors, and an enhanced balance sheet
that represents our service-based status. Moreover, these moves
position Exxe for corporate-level audits.”
About Exxe Group Exxe Group is a multidisciplinary
technology company that develops, acquires, and delivers
diversified service suites through its proprietary, innovative
platform. We offer these suites and applications via a
Software-as-a-Service (SaaS) model to enhance operations and
productivity for digital and brick-and-mortar businesses. Core
competencies include fintech-based financial management, media and
design marketing, management consulting, strategic advisory, and
AI-based systems. Exxe operates in a broad range of segments,
including fintech, real estate, agritech, software, AI, medical
products, media and design, automotive products, and automotive
repair. Revenue and profit are generated via license, software, and
service contracts related to our platform and core
competencies.
Forward-Looking Statements: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. In some cases, you can
identify forward-looking statements by the following words:
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "ongoing," "plan," "potential," "predict,"
"project," "should," "will," "would," or the negative of these
terms or other comparable terminology, although not all
forward-looking statements contain these words. Forward-looking
statements are not a guarantee of future performance or results and
will not necessarily be accurate indications of the times at, or
by, which such performance or results will be achieved.
Forward-looking statements are based on information available at
the time the statements are made and involve known and unknown
risks, uncertainties and other factors that may cause our results,
levels of activity, performance or achievements to be materially
different from the information expressed or implied by the
forward-looking statements in this press release.
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Exxe Group IR: info@exxegroup.com