Welcome to our dedicated page for Onfolio Holdings news (Ticker: ONFO), a resource for investors and traders seeking the latest updates and insights on Onfolio Holdings stock.
Onfolio Holdings Inc. (Nasdaq: ONFO) actively manages a diverse portfolio of small online businesses. Focused on sectors with long-term growth potential, Onfolio targets companies that exhibit stable and positive cash flows, minimal risks of technological obsolescence, and strong existing management teams.
The company's strategy involves acquiring and growing businesses that have not been fully optimized by their previous owners. This allows Onfolio to add significant value through its expertise and resources. Notably, the company emphasizes acquisitions where the seller has not maximized the business’s potential, creating opportunities for growth and efficiency improvements.
Recent achievements include a successful fundraising via Series A preferred shares and promissory notes, which enabled the acquisition of RevenueZen on January 1, 2024. This acquisition is part of Onfolio's broader strategy to reduce expenses and streamline operations, aiming for profitability despite economic headwinds.
In 2023, Onfolio faced challenges due to limited capital availability and high interest rates. However, the company navigated these hurdles and improved its financial condition. A significant milestone was the formation of a joint venture, the Onfolio Agency SPV, to co-invest in upcoming acquisitions. This venture aims to leverage private accredited investors to secure necessary capital without diluting existing shareholders.
Among its portfolio, Onfolio recently acquired DDS Rank, a digital marketing company that serves dentists with services like SEO, paid advertising, and web design. DDS Rank generated approximately $310,000 in revenue in 2023, and Onfolio expects to double this through enhanced marketing and operational improvements.
Financially, Onfolio continues to make strides. The company reports substantial revenue growth compared to 2022 and anticipates achieving profitability by requiring less upfront capital for acquisitions. By optimizing its existing portfolio and continually exploring new acquisition opportunities, Onfolio aims to offer stable returns to its investors.
For more information about Onfolio Holdings Inc., visit www.onfolio.com.
On May 29, 2024, Onfolio Holdings announced that its subsidiary, RevenueZen, acquired substantially all assets of First Page Strategy. The acquisition involves a small initial payment and a revenue share agreement over the next 36 months. First Page Strategy, known for its successful B2B content marketing, SEO, and advertising services, generated approximately $190k in Q1 2024, with an annual revenue run rate of $760k. This acquisition is expected to bring significant cost savings, strengthen client relationships, and enhance Onfolio's profitability. RevenueZen, which specializes in B2B marketing services, will integrate First Page Strategy’s operations and teams, aiming to leverage synergies for future growth.
Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) reported first quarter 2024 financial results, showcasing notable improvements. Revenue increased 17% to $1.59M compared to $1.35M in Q1 2023 and $1.27M in Q4 2023. Gross profit rose 35% to $1.00M, and total operating expenses decreased by 23% to $1.61M. Net loss reduced significantly by 51% to $0.63M, and cash used in operations was the lowest since IPO. The company also highlighted a key acquisition of RevenueZen and a strategic joint venture, 'Onfolio Agency SPV,' aimed at enhancing profitability through new acquisitions. CEO Dominic Wells expressed optimism about achieving profitability soon.
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