Global Mofy Announces Fiscal Year 2024 Financial Results; Conference Call Scheduled for Friday, January 3rd, at 9:00 AM Eastern Time
Global Mofy AI (Nasdaq: GMM) reported strong financial results for fiscal year 2024, with total revenue reaching $41.4 million, up 53.8% year-over-year. The company achieved record-high figures across key metrics, including gross profit of $20.8 million (50.3% margin) and net income of $12.1 million (29.4% margin).
Total assets increased 118.3% to $59.2 million, while EPS grew 61.2% to $6.37. R&D expenses rose 109.8% to $7.5 million, focusing on expanding the company's 3D digital asset library to over 100,000 assets and advancing its Gausspeed AI platform.
Notable developments include North American expansion through GMM DISCOVERY , launch of a $69 million investment fund with strategic partners, and a $2.5 million private placement financing. The company also established a vocational education institute and secured strategic partnerships in China.
Global Mofy AI (Nasdaq: GMM) ha riportato risultati finanziari solidi per l'anno fiscale 2024, con ricavi totali pari a $41,4 milioni, in crescita del 53,8% rispetto all'anno precedente. L'azienda ha raggiunto figure record in metriche chiave, inclusi utili lordi di $20,8 milioni (margine del 50,3%) e reddito netto di $12,1 milioni (margine del 29,4%).
Il totale degli attivi è aumentato del 118,3% a $59,2 milioni, mentre gli utili per azione (EPS) sono cresciuti del 61,2% a $6,37. Le spese per R&S sono aumentate del 109,8% a $7,5 milioni, concentrandosi sull'espansione della biblioteca di asset digitali 3D dell'azienda a oltre 100.000 asset e sull'avanzamento della sua piattaforma AI Gausspeed.
Sviluppi notevoli includono l'espansione in Nord America attraverso GMM DISCOVERY, il lancio di un fondo di investimento da $69 milioni con partner strategici e un finanziamento privato da $2,5 milioni. L'azienda ha anche istituito un istituto di formazione professionale e ha assicurato partnership strategiche in Cina.
Global Mofy AI (Nasdaq: GMM) reportó resultados financieros sólidos para el año fiscal 2024, con ingresos totales de $41.4 millones, un incremento del 53.8% en comparación con el año anterior. La compañía alcanzó cifras récord en métricas clave, incluidos beneficios brutos de $20.8 millones (margen del 50.3%) y ingreso neto de $12.1 millones (margen del 29.4%).
Los activos totales aumentaron un 118.3% a $59.2 millones, mientras el EPS creció un 61.2% a $6.37. Los gastos de I+D aumentaron un 109.8% a $7.5 millones, enfocándose en expandir la biblioteca de activos digitales 3D de la empresa a más de 100,000 activos y en avanzar su plataforma de IA Gausspeed.
Los desarrollos notables incluyen la expansión en América del Norte a través de GMM DISCOVERY, el lanzamiento de un fondo de inversión de $69 millones con socios estratégicos, y un financiamiento privado de $2.5 millones. La empresa también estableció un instituto de educación vocacional y aseguró asociaciones estratégicas en China.
글로벌 모피 AI (Nasdaq: GMM)는 2024 회계연도에 대한 강력한 재무 결과를 보고했으며, 총 수익이 4,140만 달러에 달해 전년 대비 53.8% 증가했습니다. 이 회사는 총 이익이 2,080만 달러 (50.3% 마진) 및 순이익이 1,210만 달러 (29.4% 마진)에 이르는 주요 지표에서 기록적인 수치를 달성했습니다.
총 자산은 118.3% 증가하여 5,920만 달러에 달했으며, 주당 순이익(EPS)은 61.2% 증가하여 6.37 달러에 달했습니다. 연구 개발(R&D) 비용은 109.8% 증가하여 750만 달러에 이르렀으며, 회사의 3D 디지털 자산 라이브러리를 10만 개 이상의 자산으로 확장하고 Gausspeed AI 플랫폼을 발전시키는 데 집중하고 있습니다.
주요 개발 사항으로는 GMM DISCOVERY를 통한 북미 확장, 전략적 파트너와 함께하는 6,900만 달러 규모의 투자 기금 출시, 그리고 250만 달러 규모의 사모 배치 자금 조달이 포함됩니다. 또한 회사는 직업 교육 기관을 설립하고 중국에서 전략적 파트너십을 확보했습니다.
Global Mofy AI (Nasdaq: GMM) a annoncé des résultats financiers solides pour l'exercice 2024, avec un chiffre d'affaires total de 41,4 millions de dollars, en hausse de 53,8% par rapport à l'année précédente. L'entreprise a atteint des chiffres records sur des indicateurs clés, y compris un bénéfice brut de 20,8 millions de dollars (marge de 50,3%) et un revenu net de 12,1 millions de dollars (marge de 29,4%).
Les actifs totaux ont augmenté de 118,3% pour atteindre 59,2 millions de dollars, tandis que le BPA a crû de 61,2% pour s'établir à 6,37 dollars. Les dépenses de R&D ont augmenté de 109,8% pour atteindre 7,5 millions de dollars, se concentrant sur l'expansion de la bibliothèque d'actifs numériques 3D de l'entreprise à plus de 100 000 actifs et sur l'avancement de sa plateforme AI Gausspeed.
Parmi les développements notables, on compte l'expansion en Amérique du Nord via GMM DISCOVERY, le lancement d'un fonds d'investissement de 69 millions de dollars avec des partenaires stratégiques et un financement par placement privé de 2,5 millions de dollars. L'entreprise a également créé un institut d'éducation professionnelle et a sécurisé des partenariats stratégiques en Chine.
Global Mofy AI (Nasdaq: GMM) hat für das Geschäftsjahr 2024 starke Finanzergebnisse gemeldet, mit einem Gesamterlös von 41,4 Millionen US-Dollar, was einem Anstieg von 53,8% im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte Rekordzahlen bei wichtigen Kennzahlen, einschließlich Bruttoeinnahmen von 20,8 Millionen US-Dollar (50,3% Marge) und Nettogewinn von 12,1 Millionen US-Dollar (29,4% Marge).
Die Gesamtaktiva stiegen um 118,3% auf 59,2 Millionen US-Dollar, während das EPS um 61,2% auf 6,37 US-Dollar zulegte. Die F&E-Ausgaben nahmen um 109,8% auf 7,5 Millionen US-Dollar zu, wobei der Fokus auf der Erweiterung der digitalen 3D-Vermögensbibliothek des Unternehmens auf über 100.000 Vermögenswerte und der Weiterentwicklung seiner Gausspeed-AI-Plattform lag.
Bemerkenswerte Entwicklungen umfassen die Expansion nach Nordamerika durch GMM DISCOVERY, die Einführung eines Investmentfonds in Höhe von 69 Millionen US-Dollar mit strategischen Partnern und eine private Platzierungsfinanzierung in Höhe von 2,5 Millionen US-Dollar. Das Unternehmen gründete auch ein Berufsbildungsinstitut und sicherte sich strategische Partnerschaften in China.
- Record revenue of $41.4 million, up 53.8% YoY
- Net income increased 89% to $12.1 million
- Strong gross margin of 50.3%
- Total assets grew 118.3% to $59.2 million
- EPS increased 61.2% to $6.37
- 3D digital asset library expanded to over 100,000 assets
- Secured $69 million investment fund with strategic partners
- R&D expenses more than doubled, up 109.8% to $7.5 million
- Dilutive impact from $2.5 million private placement financing
Insights
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BEIJING, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Global Mofy AI Limited (the “Company” or “Global Mofy”) (Nasdaq: GMM), a generative AI-driven technology solutions provider engaged in virtual content production and the development of 3D digital assets for use in the broader digital content industry, today reported financial results for the fiscal year ended September 30, 2024, with revenue, gross profit, and net income achieving significant year-over-year growth.
The growth trajectory was driven by the continued demand for high-quality digital assets and AI-driven solutions in industries such as film, gaming, advertising, and digital tourism. Additionally, the Company’s investments in technology, innovation, and global expansion have rendered us well-positioned to capitalize on the significant opportunities ahead.
“We are proud to report exceptional financial performance for fiscal year 2024, a year in which we achieved significant milestones that strengthen our position in the global digital content industry,” said Haogang Yang, Founder and CEO of Global Mofy. “Our strategic shift towards generative AI driven solutions and the continuous development of high-precision 3D digital assets has allowed us to meet the growing demand for digital content, while driving profitability and positioning the Company for long-term growth. As we look ahead, we are confident in our ability to sustain this momentum and deliver more value to our shareholders.”
Financial Results for Fiscal Year Ended September 30, 2024
Total Assets: As of September 30, 2024, Global Mofy’s total assets reached
Revenue: Revenue for the fiscal year 2024 totaled
Gross Profit: Gross profit for the fiscal year 2024 increased by
Net Income: Net income for fiscal year 2024 was
Earnings Per Share (EPS): Basic and diluted earnings per share for fiscal year 2024 were
Research and Development (R&D) Expenses: R&D expenditures for fiscal year 2024 totaled
Recent Developments
Expansion of 3D Digital Asset Library: By the end of fiscal year 2024, Global Mofy’s 3D digital asset library encompassed over 100,000 assets. These assets, characterized by high precision and reusability, are now supporting a diverse range of applications in industries such as film, television, advertising, on-line game industry, and digital tourism.
Generative AI Advancements: On April 30, 2024, Global Mofy announced the development of Gausspeed, a generative AI platform for film production and digital content creation. In collaboration with Heartdub and powered by NVIDIA Omniverse and NVIDIA RTX GPUs, Gausspeed integrates with the NVIDIA Omniverse Cloud API, enhancing collaboration, improving production efficiency, and enabling real-time scene generation. This platform allows creators to visualize and adjust scenes early in the production process, streamlining workflows and reducing complexity, positioning Global Mofy at the forefront of innovation in the digital entertainment industry.
North American Expansion: On May 22, 2024, Global Mofy expanded its global footprint with the establishment of GMM DISCOVERY LLC in North America. This move strengthens the Company’s presence in one of the world’s largest markets for AI-driven content and 3D asset development and positions the Company to better serve a growing client base in the U.S., while capitalizing on new business opportunities across North America.
Launch of
Establishment of Vocational Education Institute: On July 9, 2024, Global Mofy announced the setup of the Century Mofy Vocational Education Institute in Zhejiang, China, to address the growing demand for skilled talents in AI and digital content creation industry. The Institute will offer specialized training in AIGC technology development and the creation of various digital content formats such as images, videos, text, and music.
Private Placement Financing of
Strategic Cooperation with Lianyungang: On October 23, 2024, Global Mofy signed a strategic agreement with Lianyungang’s Haizhou High-Tech District to collaborate on generative AI, digital tourism, and cultural projects. The partnership aims to enhance Lianyungang’s cultural heritage through digital platforms and AI-driven solutions.
MIIT Membership Awarded: On November 12, 2024, Global Mofy was awarded membership in the Industrial Brand Promotion Organization by the Ministry of Industry and Information Technology (MIIT). This membership highlights the Company’s leadership in generative AI technology and its commitment to advancing brand competitiveness in the digital content industry.
Conference Call and Webcast Information
Global Mofy will host a conference call and webcast to discuss its financial results for fiscal year 2024 and provide a business outlook on January 3, 2025, at 9:00 AM EST. Participants can register for the live audio call using the following link:
[https://register.vevent.com/register/BI4123b2278fe8413caec3c544c97a6528]
Upon successful registration, participants will receive a conference PIN and dial-in number. A live webcast of the conference call will be available at:
[https://edge.media-server.com/mmc/p/3vzc68vn]
A full recording of the call will be available on the Company’s investor relations website immediately after the event:
[http://ir.globalmofy.cn]
Forward-Looking Statement
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, the Company's statements regarding the expected trading of its Ordinary Shares on the Nasdaq Capital Market and the closing of the Offering. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Global Mofy AI Ltd.
Investor Relations Department
ir@mof-vfx.com
| GLOBAL MOFY AI LIMITED | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| (Expressed in U.S. Dollars, except for the number of shares) | ||||||||
| As of September 30, | ||||||||
| 2024 | 2023 | |||||||
| US$ | US$ | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash | $ | 8,068,560 | $ | 10,437,580 | ||||
| Restricted cash | 3,000,000 | — | ||||||
| Short-term investments | — | 780,000 | ||||||
| Accounts receivable, net | 1,254,613 | 3,286,330 | ||||||
| Advances to vendors | 5,736,093 | 2,593,887 | ||||||
| Due from related parties | 19,665 | — | ||||||
| Loans receivable – current | — | 287,829 | ||||||
| Prepaid expenses and other current assets, net | 967,613 | 507,336 | ||||||
| Total current assets | $ | 19,046,544 | 17,892,962 | |||||
| Non-current assets | ||||||||
| Long-term investments | 284,998 | — | ||||||
| Property and equipment, net | 13,420 | 34,431 | ||||||
| Intangible assets, net | 38,796,262 | 6,505,792 | ||||||
| Operating lease right-of-use assets | 660,946 | 954,771 | ||||||
| Loans receivable – non-current | — | 447,505 | ||||||
| Advances to vendors – non-current | 261,956 | 1,020,874 | ||||||
| Prepaid expenses and other non-current assets, net | 127,732 | 262,986 | ||||||
| Total non-current assets | 40,145,314 | 9,226,359 | ||||||
| Total assets | $ | 59,191,858 | $ | 27,119,321 | ||||
| LIABILITIES AND EQUITY | ||||||||
| Current liabilities | ||||||||
| Short-term bank loans | $ | 5,397,521 | $ | 2,442,609 | ||||
| Loans from third parties | 23,512 | 22,615 | ||||||
| Accounts payable | 1,213,114 | 531,091 | ||||||
| Advances from customers | 3,837,621 | 345,838 | ||||||
| Due to a related party | 50,380 | — | ||||||
| Tax payable | 2,035,653 | 1,555,059 | ||||||
| Accrued expenses and other liabilities | 553,696 | 555,440 | ||||||
| Operating lease liabilities – current | 270,183 | 293,040 | ||||||
| Total current liabilities | $ | 13,381,680 | 5,745,692 | |||||
| Non-current liabilities | ||||||||
| Operating lease liabilities – non-current | 308,575 | 556,674 | ||||||
| Total non-current liabilities | 308,575 | 556,674 | ||||||
| Total liabilities | $ | 13,690,255 | 6,302,366 | |||||
| Equity: | ||||||||
| Class A ordinary shares ( | 42 | 52 | ||||||
| Class B Ordinary Shares ( | 26 | - | ||||||
| Additional paid-in capital | 27,796,887 | 16,035,229 | ||||||
| Statutory reserves | 1,926,547 | 368,271 | ||||||
| Accumulated earnings | 15,737,191 | 5,158,115 | ||||||
| Accumulated other comprehensive income (loss) | 187,118 | (604,182 | ) | |||||
| Total Global Mofy AI Limited shareholders’ equity | 45,647,811 | 20,957,485 | ||||||
| Non-controlling interests | (146,208 | ) | (140,530 | ) | ||||
| Total equity | 45,501,603 | 20,816,955 | ||||||
| Total liabilities and equity | $ | 59,191,858 | $ | 27,119,321 | ||||
| * Retrospectively restated for effect of reverse stock split on November 26, 2024. | ||||||||
| GLOBAL MOFY AI LIMITED | ||||||||||||
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||
| (Expressed in U.S. Dollars, except for the number of shares) | ||||||||||||
| For the years ended September 30, | ||||||||||||
| 2024 | 2023 | 2022 | ||||||||||
| US$ | US$ | US$ | ||||||||||
| Revenue | ||||||||||||
| Revenue from third parties | $ | 41,360,953 | $ | 26,889,911 | $ | 14,540,300 | ||||||
| Revenue from related parties | — | — | 2,647,993 | |||||||||
| Revenue | 41,360,953 | 26,889,911 | 17,188,293 | |||||||||
| Cost of revenue | (20,556,763 | ) | (12,357,934 | ) | (13,072,732 | ) | ||||||
| Gross profit | 20,804,190 | 14,531,977 | 4,115,561 | |||||||||
| Operating expenses: | ||||||||||||
| Selling expenses | (1,107,215 | ) | (294,587 | ) | (153,822 | ) | ||||||
| General and administrative expenses | (5,425,015 | ) | (3,046,037 | ) | (1,041,330 | ) | ||||||
| Research and development expenses | (7,448,583 | ) | (3,546,155 | ) | (3,207,759 | ) | ||||||
| Total operating expenses | (13,980,813 | ) | (6,886,779 | ) | (4,402,911 | ) | ||||||
| Income (loss) from operations | 6,823,377 | 7,645,198 | (287,350 | ) | ||||||||
| Other (expenses) income: | ||||||||||||
| Interest income | 208,647 | 41,230 | 42,948 | |||||||||
| Interest expenses | (195,331 | ) | (126,206 | ) | (74,888 | ) | ||||||
| Issuance costs allocated to warrant liability | (823,846 | ) | — | — | ||||||||
| Change in fair value of warrant liability | 6,827,034 | — | — | |||||||||
| Other income, net | 144,819 | 89,124 | 54,049 | |||||||||
| Total other income, net | 6,161,323 | 4,148 | 22,109 | |||||||||
| Income (loss) before income taxes | 12,984,700 | 7,649,346 | (265,241 | ) | ||||||||
| Income tax expense | (847,448 | ) | (1,098,087 | ) | — | |||||||
| Net income (loss) | 12,137,252 | 6,551,259 | (265,241 | ) | ||||||||
| Net (loss) income attributable to non-controlling interest | (100 | ) | (579 | ) | 1,981 | |||||||
| Net income (loss) attributable to Global Mofy AI Limited | $ | 12,137,352 | $ | 6,551,838 | $ | (267,222 | ) | |||||
| Comprehensive income (loss) | ||||||||||||
| Net income (loss) | $ | 12,137,252 | $ | 6,551,259 | $ | (265,241 | ) | |||||
| Foreign currency translation Gain (loss) | 785,722 | (407,248 | ) | (198,124 | ) | |||||||
| Total comprehensive income (loss) | 12,922,974 | 6,144,011 | (463,365 | ) | ||||||||
| Comprehensive income attributable to non-controlling interests | (5,678 | ) | 3,031 | 2,304 | ||||||||
| Comprehensive income (loss) attributable to Global Mofy AI Limited | $ | 12,928,652 | $ | 6,140,980 | $ | (465,669 | ) | |||||
| Earnings (loss) per Class A ordinary share | ||||||||||||
| – Basic and diluted* | $ | 6.37 | $ | 3.93 | $ | (0.17 | ) | |||||
| Weighted average number of Class A ordinary shares outstanding | ||||||||||||
| – Basic and diluted* | 1,798,850 | 1,668,083 | 1,562,766 | |||||||||
| Earnings per Class B ordinary share | ||||||||||||
| – Basic and diluted* | $ | 6.37 | $ | - | $ | - | ||||||
| Weighted average Class B ordinary shares outstanding | ||||||||||||
| – Basic and diluted* | 106,605 | - | - | |||||||||
| * | Retrospectively restated for effect of reverse stock split on November 26, 2024. |
FAQ
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