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 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.