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Moatable Inc is a technology company that focuses on developing innovative digital solutions for businesses. They specialize in creating cutting-edge software products that improve efficiency and streamline operations. With a strong focus on user experience and customer satisfaction, Moatable Inc has quickly become a leader in the tech industry. Their recent achievements include launching a new mobile app that has received rave reviews from users and securing a partnership with a major e-commerce platform to enhance their online shopping experience. As a financially stable company with a track record of success, Moatable Inc is well-positioned for future growth and expansion.
Moatable (OTC: MTBLY) reported strong Q3 2024 financial results, with revenue increasing 26% to $16.7 million compared to Q3 2023. Nine-month revenue grew 20% to $46.0 million. Gross profit rose 21% to $12.6 million in Q3. Operating loss improved 71% to $0.2 million, while Adjusted EBITDA increased 486% to a profit of $252 thousand. The company maintained strong liquidity with $38.4 million in cash and equivalents. Management highlighted continuous revenue growth over seven quarters and significant improvement in profitability metrics.
Moatable, Inc. (OTC: MTBLY) has announced that its subsidiary, Lofty Inc., has entered into a definitive stock purchase agreement to acquire The Letting Partnership (TLP), a UK-based company specializing in client accounting outsourcing for the lettings industry. The acquisition, valued at £3.5 million (approximately US$4.6 million) in cash, is expected to close by the end of 2024.
TLP currently manages over £30 million of rent monthly, providing comprehensive accounting services including deposit allocation, payment management, and invoice processing. Upon closing, TLP will become a majority-owned subsidiary of Moatable, with the seller, Jennifer Susan Gledhill, continuing as a consultant.
Moatable Inc. (OTC: MTBLY) reported strong financial results for Q2 2024, showcasing significant improvements in revenue and profitability. Key highlights include:
- Revenue increased 19% year-over-year to $15.3 million in Q2 2024
- Gross profit rose 15% to $11.8 million
- Loss from operations improved 83% to $0.5 million
- Adjusted EBITDA turned positive, reaching $0.8 million, a 146% improvement
The company's CFO, Scott Stone, expressed satisfaction with the steady revenue growth and emphasized the significant improvement in profitability. Moatable's cash position remained stable at $39.2 million as of Q2 2024 end.
Moatable announced its Q1 2024 financial results, reporting a 15% increase in revenue to $14.0 million and a 14% increase in gross profit to $10.7 million. The company's loss from operations improved significantly by 67%, reducing from $3.4 million in Q1 2023 to $1.1 million in Q1 2024. Adjusted EBITDA turned positive, showing $250 thousand compared to a $2.6 million loss in Q1 2023. The company ended the quarter with $39.0 million in cash and cash equivalents. Michael Schifsky, interim CFO, highlighted the steady revenue growth and improved profitability on an Adjusted EBITDA basis as key achievements.
Moatable, Inc. announced the appointment of Mr. Grant Moon, a veteran with extensive experience in real estate and fintech industries, to its Board of Directors. Mr. Moon's background includes founding and leading successful financial technology companies and serving in the US Army. His expertise is expected to enhance Moatable's strategic direction and operations.
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