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Goldmoney Inc. (TSX:XAU) (US:XAUMF) reported Q3 financial results for the quarter ended December 31, 2020. Key highlights include a 13% increase in quarterly gross profit to $4.9 million and a 304% rise in fee revenue, reaching a record $2.9 million. Net income surged 173% YoY to $4.2 million, with earnings per share of $0.05. However, total revenue declined 10% YoY to $97.6 million. Client assets increased 18% to $2.5 billion. Overall, the company demonstrated operational efficiencies despite typical seasonal challenges.
Goldmoney Inc. (TSX:XAU | US:XAUMF) will release its third quarter 2021 financial results before market open on February 9, 2021. The financial data will be shared via press release and available on SEDAR. Shareholders can direct questions to management via email. Goldmoney operates in the precious metals sector, with clients in over 150 countries holding approximately $2.5 billion in precious metal assets. The Company also has interests in various subsidiaries, enhancing its exposure to the precious metals market.
Goldmoney Inc. (TSX:XAU) (US:XAUMF) announced updates on its subsidiary Totenpass Inc., which has been developing a solid gold digital storage drive since 2017. This innovative technology enables permanent storage of data without energy dependency, addressing issues related to the increasing centralization of digital information. Goldmoney has invested significantly in Totenpass, which is expected to launch in beta by the end of 2021, pending technical milestones. The project is fully funded through cash flows, alleviating concerns about financial risk.
