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The OLB Group, Inc., trading under the symbol OLB on NASDAQ, is a multifaceted fintech enterprise headquartered in New York, New York. Established in 1993, the company is renowned for its diversified services in payment facilitation and Bitcoin mining. OLB Group offers a comprehensive array of payment solutions and business management tools that cater to a vast array of merchants across the United States.
One of OLB's flagship offerings is Omnisoft, a cloud-based business management platform designed to help merchants streamline their operations both online and in physical retail environments. Complementing this is Evance, a robust payment processing solution, and SecurePay, a payment gateway and virtual terminal equipped with proprietary business management tools. Additionally, OLB Group powers Crowdpay.us, a white-label capital raising platform, as well as ShopFast, an omni-channel platform that facilitates consumer transactions from various business sectors.
In recent developments, OLB Group has expanded into the eSIM technology market, targeting the unbanked sector with two new prepaid wireless phone services—Black Wireless and Mango Mobile. These services aim to provide cost-effective and efficient solutions for budget-conscious consumers.
The company also runs DMint, a Bitcoin mining subsidiary that operates a facility in Tennessee utilizing renewable energy sources such as hydroelectric and solar power. This venture underscores OLB's commitment to sustainable and forward-thinking business practices.
OLB Group's latest financial results for Q1 2024 indicate a revenue of $3.5 million, which signals a challenging yet dynamic business environment. Despite a net loss of $2.9 million, the company continues to make strategic investments, including the acquisition of the remaining 19.9% of its subsidiary Black011, enhancing its reach and service offerings.
For more information, visit The OLB Group, Inc.
OLB Group (NASDAQ: OLB), a diversified Fintech eCommerce merchant services provider and Bitcoin mining enterprise, is scheduled to present at the Emerging Growth Virtual Conference on April 19, 2023, from 2:20 to 2:50 PM ET. Management, including Chairman & CEO Ronny Yakov and VP Patrick Smith, will discuss the company's revenue growth, acquisition strategy, and the planned spinoff of its Bitcoin mining subsidiary, DMint. The conference aims to connect public companies with investors, showcasing innovative products and long-term growth potential. Interested parties can register for the presentation online and submit questions via email. An archived version of the webcast will be available after the event.
NEW YORK, NY / ACCESSWIRE / March 30, 2023 / The OLB Group, Inc. (NASDAQ:OLB) will hold an Earnings Conference Call on March 31, 2023, at 4:30 PM ET. The company will report its 2022 financial results, showcasing a significant revenue increase of 81.7%. Interested shareholders and investors can register for the call and submit questions. OLB focuses on providing Fintech eCommerce merchant services and has a robust cloud-based platform servicing over 10,500 merchants across all states. Future updates can be obtained by contacting the company directly or visiting their website.
The OLB Group (NASDAQ: OLB) reported a significant 81.7% year-over-year revenue increase, achieving $30.4 million for 2022 compared to $16.7 million in 2021. The financial results reveal a strong performance in the Fintech Services segment, which generated $29.6 million. However, processing and servicing costs rose to $23.2 million, reflecting a 71.8% increase, and G&A expenses surged by 88.1% to $4.5 million. The company operates a Bitcoin mining subsidiary DMint, which relocated to Tennessee for better energy rates. Furthermore, OLB ended the year debt-free and reported an annualized transaction volume run rate of $1.2 billion.
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