ALT5 Sigma Reports 114% Year-Over-Year Increase in Transaction Volume for the Month of July 2024

Rhea-AI Summary

ALT5 Sigma (NASDAQ:ALTS), a fintech company specializing in blockchain-powered technologies for digital assets, has reported a 114% year-over-year increase in transaction volume for July 2024. The company's transaction volume reached US$179 million in July 2024, up from $84 million in July 2023. ALT5's year-to-date transaction volume stands at $1.05 billion, representing a 101% year-over-year increase.

Chief Revenue Officer Vay Tham noted that the company typically experiences an uptick in transaction volume during the second half of the fiscal year. ALT5 Sigma continues to focus on growth and expanding its solutions to a wider range of organizations in its core markets.

Positive

• 114% year-over-year increase in transaction volume for July 2024
• Transaction volume reached US$179 million in July 2024
• Year-to-date transaction volume of $1.05 billion, a 101% year-over-year increase
• Consistent growth trend observed over the past four years

Negative

• None.

Insights

Financial Analyst

ALT5 Sigma's impressive 114% YoY growth in transaction volume for July 2024 signals robust momentum in the digital asset space. The $179 million volume, up from $84 million last year, indicates strong market demand for their blockchain-powered solutions. With a YTD volume of $1.05 billion, representing a 101% YoY increase, ALT5 is demonstrating consistent growth. This performance suggests the company is successfully capitalizing on the expanding digital asset market. However, investors should note that transaction volume doesn't directly translate to revenue or profit. It's important to see how this growth impacts ALT5's financial statements in upcoming earnings reports to gauge the true financial health of the company.

Tech Expert

ALT5 Sigma's substantial growth underscores the increasing adoption of blockchain technology in financial services. Their comprehensive suite, covering tokenization, trading, clearing, settlement and custody, positions them well in the evolving digital asset ecosystem. The 114% YoY increase suggests their technology is gaining traction, potentially due to improved scalability, security, or user experience. However, the crypto market's volatility could be a factor in this growth. It's important to consider how ALT5's technology differentiates from competitors and adapts to regulatory changes. The company's ability to maintain this growth trajectory will depend on continuous innovation and addressing potential scalability challenges as transaction volumes surge.

Market Research Analyst

The significant growth in ALT5 Sigma's transaction volume reflects broader trends in the digital asset market. The 114% YoY increase outpaces the general crypto market growth, suggesting ALT5 is gaining market share. The company's focus on institutional clients could be a key driver, as more traditional financial entities explore digital asset integration. The mention of historical seasonality with stronger second-half performance is noteworthy; if this pattern holds, we could see even higher volumes in coming months. However, it's important to monitor regulatory developments, as they can significantly impact market dynamics. Investors should also consider how ALT5's growth compares to competitors to assess their relative market position and long-term potential in this rapidly evolving sector.

LAS VEGAS, NV / ACCESSWIRE / August 13, 2024 / ALT5 Sigma Corporation (NASDAQ:ALTS), a fintech, providing next generation blockchain-powered technologies for tokenization, trading, clearing, settlement, payment, and safe-keeping of digital assets, released its transaction volume for July 2024.

According to the company, ALT5's transaction volume exceeded US$179 million for the month of July 2024, which represents a year-over-year increase of 114% from the $84 million recorded in July 2023. ALT5's year-to-date transaction volume is $1.05 billion, which represents a year-over-year increase of 101%.

July 2024	July 2023	July 2022	July 2021
$179,352,052	$83,810,993	$47,264,497	$26,582,621

"Based on historical seasonality that we have experienced over the last few years, the second half of the fiscal year traditionally sees an uptick in transaction volume. We are pleased with the year-over-year growth and encouraged by the month-over-month increase in business as well," said Vay Tham, Chief Revenue Officer of ALT5 Sigma Corporation. "We continue to focus on growth and providing our solutions to an expanding set of organizations in our core markets," further added Mr. Tham.

About ALT5 Sigma

The Company is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. The Company is one of the constituents of the Russell Microcap Index, as of June 28, 2024.

Launched in 2018, ALT5 Sigma Inc. (a wholly-owned subsidiary of ALT5 Sigma Corporation) is a fintech company that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. ALT5 Sigma Inc., through its subsidiaries, offers two main platforms to its customers: "ALT5 Pay" and "ALT5 Prime". ALT5 Sigma Inc. processed over US$1.2 billion in cryptocurrency transactions in 2023.

ALT5 Pay is a crypto-currency payment gateway that enables registered and approved global merchants to accept and make crypto-currency payments or to integrate the ALT5 Pay payment platform into their application or operations using the plugin with WooCommerce and or ALT5 Pay's checkout widgets and APIs. Merchants have the option to convert to fiat currency (s) automatically or to receive their payment in digital assets.

ALT5 Prime is an electronic over-the-counter trading platform that enables registered and approved customers to buy and sell digital assets. Customers can purchase digital assets with fiat and, equally, can sell digital assets and receive fiat. ALT5 Prime is available through a browser-based access mobile phone application named "ALT5 Pro" that can be downloaded from the Apple App Store, from Google Play, through ALT5 Prime's FIX API, as well as through Broadridge Financial Solutions' NYFIX gateway for approved customers.

Through its biotech activities, the Company is developing innovative, actionable solutions intended to help end the opioid crisis. The Company is dedicated to funding resources toward innovation, technology, and education to find a key resolution to the national opioid epidemic, which is one of the deadliest and most widespread in the nation's history. Its drugs in the clinical trial pipeline have shown promise for their innovative targeting of the causes of pain as a strategic option for physicians averse to exposing patients to addictive opioids.

Forward Looking Statements

This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the profitability and prospective growth of ALT5's platforms and business, that may include, but are not limited to, international currency risks, third-party or customer credit risks, liability claims stemming from ALT5's services, and technology challenges for future growth or expansion. This press release also contains statements and links relating to risks that JAN 101 will treat PAD, that JAN 123 will treat CRPS, the timing of the commencement of clinical trials, that the FDA will permit approval through a 505(b)(2) pathway for JAN 123, that upon approval JAN 101 will immediately disrupt the PAD market, and other statements, including words such as "continue", "expect", "intend", "will", "hope", "should", "would", "may", "potential", and other similar expressions. Such statements reflect the Company's current view with respect to future events, are subject to risks and uncertainties, and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies.

Many factors could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements described in this press release. Such factors could include, among others, those detailed in the Company's periodic reports filed with the Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled "Risk Factors" in the Company's filings with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. The Company cannot assure that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Media Contact Investor Relations

IR@alt5sigma.com
1-800-400-2247

Contact Information

Investor Relations
Investor Relations
ir@alt5sigma.com
1-800-400-2247

SOURCE: ALT 5 Sigma Corp.

View the original press release on accesswire.com

FAQ

What was ALT5 Sigma's (ALTS) transaction volume for July 2024?

ALT5 Sigma's transaction volume for July 2024 was US$179,352,052.

How much did ALT5 Sigma's (ALTS) transaction volume increase year-over-year in July 2024?

ALT5 Sigma's transaction volume increased by 114% year-over-year in July 2024 compared to July 2023.

What is ALT5 Sigma's (ALTS) year-to-date transaction volume for 2024?

ALT5 Sigma's year-to-date transaction volume for 2024 is $1.05 billion.

Who is the Chief Revenue Officer of ALT5 Sigma (ALTS)?

The Chief Revenue Officer of ALT5 Sigma is Vay Tham.