Welcome to our dedicated page for Onfolio Holdings news (Ticker: ONFOW), a resource for investors and traders seeking the latest updates and insights on Onfolio Holdings stock.
Onfolio Holdings Inc actively manages small online businesses that operate in sectors with long-term growth opportunities, have positive and stable cash flows, face minimal threats of technological or competitive obsolescence, and can be managed by existing teams or have management teams largely in place.
The company's consolidation of business functions is expected to result in more than $500,000 per year in savings and move the company to profitability.
DDS Rank is expected to add more than $310,000 in revenue and generate around $200,000 in earnings before interest, taxes, depreciation, and amortization.
Onfolio Holdings acquires controlling interests in and actively manage small online businesses that we believe (i) operate in sectors with long-term growth opportunities, (ii) have positive and stable cash flows, (iii) face minimal threats of technological or competitive obsolescence and (iv) can be managed by our existing team or have strong management teams largely in place. Through the acquisition and growth of a diversified group of online businesses with these characteristics, we believe we offer investors in our shares an opportunity to diversify their own portfolio risk. Our company excels at finding acquisition opportunities where the seller has not fully optimized their business, and our experience and skillset allow us to add increased value to these existing businesses. Visit www.onfolio.com for more information.
Onfolio Holdings (Nasdaq: ONFO) announced significant cost savings from operational streamlining, expecting to save over $500,000 annually starting in Q3 2024.
This development brings the company closer to its goal of profitability. CEO Dominic Wells highlighted that the consolidation of business functions has been key.
The company plans several acquisitions in the near future to generate additional cash flow, further supporting its profitability goals. Onfolio acquires and manages a diversified portfolio of online businesses with stable cash flows and long-term growth potential.
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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