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.
Onfolio Holdings Inc. (Nasdaq: ONFO) has appointed Ravi Jayagopal as CEO of its subsidiary WPFolio, a WordPress plugin development company. Jayagopal brings over 25 years of experience in the online business industry and extensive WordPress expertise. This appointment follows Onfolio's strategic decision to decentralize management structure after experiencing triple-digit growth in Q4 2022.
Jayagopal, an accomplished software architect and author of eight books on technology platforms, will focus on serving WordPress creators and developers. WPFolio aims to develop and acquire WordPress plugins that help content creators protect and monetize their intellectual property. This aligns with WordPress's significant market presence, powering 43% of all websites globally, representing over 810 million websites.
Onfolio Holdings (NASDAQ: ONFO, ONFOW) reported robust financial results for Q4 and full year 2022, showing a remarkable revenue increase of 159% year-over-year (YOY) to $1.12M in Q4, while gross profit surged 340% to $0.75M. However, the company faced a net loss of $1.31M in Q4, widening compared to previous periods. For the full year, revenue climbed 23% to $2.22M, but total expenses rose 98% to $5.31M, resulting in a yearly net loss of $4.43M. The CEO highlighted a strategic shift to Onfolio 2.0, focusing on service businesses and e-commerce opportunities, aided by recent acquisitions including SEOButler Ltd. and Proofread Anywhere. With a cash reserve of $6.7M, Onfolio aims to pursue non-dilutive financing to support its growth strategy and move towards profitability.
Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) announced the completion of its asset purchase agreement with Contentellect Limited for $850,000. Contentellect, established in 2018, specializes in content writing services for SaaS companies and has supported over 875 businesses with its offerings. In 2022, Contentellect reported an adjusted EBITDA of $340,000. Onfolio aims to leverage this acquisition to enhance growth opportunities, particularly in a market increasingly influenced by AI technology. The acquisition details were filed with the SEC on February 6, 2023.
Onfolio Holdings Inc. (Nasdaq: ONFO, ONFOW) announced an agreement to acquire substantially all assets of Contentellect Limited for $850,000 in cash. This acquisition is set to close in Q1 2023 and will enhance Onfolio's portfolio of online businesses. Contentellect, established in 2018, specializes in content writing and SEO services, aiming to boost organic traffic for small and medium-sized enterprises. The company achieved $330,000 in adjusted EBITDA in 2021. Onfolio's CEO Dominic Wells emphasized that this acquisition aligns with their strategy to acquire niche, profitable online businesses, thereby creating long-term growth and value for investors.
Onfolio Holdings (NASDAQ: ONFO, ONFOW) will present at the Planet MicroCap Showcase: Virtual 2022 on December 7, 2022, at 11:00 AM ET. CEO Dominic Wells will lead the presentation, followed by a Q&A session. Interested parties can access the presentation via this link. Onfolio focuses on acquiring and managing online businesses in sectors with growth potential, stable cash flows, and experienced management. For more info, visit www.onfolio.com.
Onfolio Holdings Inc. (ONFO, ONFOW) reported Q3 2022 financial results, revealing a revenue decline to $352.3K from $390.4K year-over-year. The net loss widened to $(969.7K), or $(0.31) per diluted share, compared to $(575.8K), or $(0.30) per diluted share, last year. Cash used in operations surged to $(2.4M) due to increased administrative costs. However, the company aims for growth through three recent acquisitions: SEOButler, Proofread Anywhere, and BWPS, which are expected to contribute stable cash flow.
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