JanOne's Subsidiary, Alt5, Reports 91% year over year increase in Transaction Volume to US $289 million for April and May 2024
JanOne's subsidiary, ALT5 Sigma, reported a significant year-over-year increase in transaction volume for April and May 2024. The total volume reached $289 million, marking a 91% increase from the $151 million reported during the same period in 2023. The company attributes this growth to word-of-mouth and client referrals, and they are now expanding their global marketing efforts. According to President Andre Beauchesne, the rising adoption of cryptocurrencies across various industries is driving the demand for ALT5 Sigma's B2B solutions.
- Transaction volume increased by 91% year-over-year, reaching $289 million.
- ALT5 Sigma sees rising adoption of its B2B cryptocurrency solutions.
- The company plans to expand its global marketing efforts.
- The press release does not provide detailed financial results, limiting investor insight.
- Future growth depends on successful global marketing, which is not guaranteed.
Insights
Alt5 Sigma's impressive 91% year-over-year increase in transaction volume for April and May 2024 demonstrates robust growth. This uptick is significant in the fintech sector, particularly in the cryptocurrency niche, which is known for its volatility and rapid shifts.
The transaction volume reaching
One critical point to watch will be how the new global marketing strategies impact future growth. The company has relied on word-of-mouth up until now, which indicates a potentially large untapped market. The marketing efforts could lead to exponential growth if they resonate well with new clients.
Investors should consider that while this growth is promising, it must be sustained and scaled effectively with new marketing strategies. Any slowdown in adoption or negative regulatory changes could impact future performance.
From a financial perspective, the 91% increase in transaction volume suggests a strong revenue potential for Alt5 Sigma. However, it's important to assess how this transaction growth translates into actual revenue and profitability. Transaction volume is a positive signal, but the
The scalability of their operations will be another key factor. If the company can maintain or improve its margins while expanding, the financial health of JanOne Inc. could see substantial benefits. However, increased marketing expenditure might temporarily impact profit margins, which investors should monitor closely in future earnings reports.
Investors should keep an eye on future quarterly financial outcomes to confirm that the transaction volume growth effectively turns into proportional revenue and profit growth.
According to the Company, ALT5 Sigma transaction volume reached
"Since inception, we have relied solely on word-of-mouth and client referrals to grow our business and have managed a steady growth year-over-year, and now we begin to roll out our global marketing strategies," said Andre Beauchesne, President of Alt5 Sigma. "The adoption of cryptocurrencies in many industries is accelerating and our B2B solutions can be easily integrated into all business processes from checkout to payouts," further added Mr. Beauchesne.
About ALT5 Sigma Inc.
Launched in 2018, ALT5 is a fintech company that provides next generation blockchain-powered technologies to enable a migration to a new global financial paradigm. ALT5, through its subsidiaries, offers two main platforms to its customers: "ALT5 Pay" and "ALT5 Prime". The Company processed over
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.
About JanOne
JanOne is a unique Nasdaq-listed multidisciplinary organization with a focus on healthcare and fintech. JanOne is one of the constituents of the Russell Microcap Index, starting June 28, 2024. Through its biotech activities, JanOne is developing innovative, actionable solutions intended to help end the opioid crisis. JanOne 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.
JanOne's ALT5 subsidiary is a global fintech that provides next generation blockchain powered technologies for the trading, clearing, settlement, payment, and custodianship of digital instruments.
Please visit www.janone.com for additional information.
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 statements 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. This press release also contains statements and links relating to the profitability and prospective growth of ALT5's platforms and business, including, but 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. Such statements reflect JanOne'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 JanOne, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.
Many factors could cause JanOne'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 JanOne'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 JanOne does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. JanOne 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.
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SOURCE JanOne Inc.
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