The company's profits were substantially lower than a year ago despite its margins increasing to 71 per cent in the first half of 2015
One of the major binary options providers in the industry, TechFinancials (LON:TECH), has just released an unaudited interim report for the first half of 2015. The software developer which is white labeling its platform to online brokers, has announced that for the first six months of 2015 the company's revenue increased by 2.5 per cent to $7.34 million.
Revenues from core software licensing at TechFinancials (LON:TECH) increased by 33 per cent to $4.03 million, while gross profit rose 16 per cent to $5.18m. This makes for a gross margin reading of 71 percent which is higher by 9 points when compared to the same period last year.
As revenue figures ticked higher, operating profits decreased materially by 86 per cent to $0.1 million. The report explains the decline with an increased amount of Research & Development (R&D) expenditure being expensed through the P&L account. The net change totaled $0.58 million in the first half of 2015 when compared to last year. Non-cash expenses rose $0.39 million.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 31 per cent to $0.55 million primarily due to a greater proportion of R&D being expensed as opposed to capitalized last year. The cash position of TechFinancials (LON:TECH) remains solid with $4.6 million in the company's coffers set aside for marketing and more R&D. Earlier this year the company has launched a simplified version of Forex trading catering to unexperienced traders.
The number of brokers who are using the trading solution which TechFinancials (LON:TECH) provides to the market has increased by 17 brands when compared to the beginning of this year, to a total of 65.
Commenting on the results, the firm's CEO, Asaf Lahav, said, “Notwithstanding a decrease in profit, the Group’s operational performance has been positive and the board remains confident about the Group’s future prospects. We have a strong cash position as a result of our AIM listing in March 2015, and it will be utilised to further invest in marketing and R&D as well as evaluating potential joint venture and acquisition opportunities to help facilitate future growth.”
One of the major binary options providers in the industry, TechFinancials (LON:TECH), has just released an unaudited interim report for the first half of 2015. The software developer which is white labeling its platform to online brokers, has announced that for the first six months of 2015 the company's revenue increased by 2.5 per cent to $7.34 million.
Revenues from core software licensing at TechFinancials (LON:TECH) increased by 33 per cent to $4.03 million, while gross profit rose 16 per cent to $5.18m. This makes for a gross margin reading of 71 percent which is higher by 9 points when compared to the same period last year.
As revenue figures ticked higher, operating profits decreased materially by 86 per cent to $0.1 million. The report explains the decline with an increased amount of Research & Development (R&D) expenditure being expensed through the P&L account. The net change totaled $0.58 million in the first half of 2015 when compared to last year. Non-cash expenses rose $0.39 million.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 31 per cent to $0.55 million primarily due to a greater proportion of R&D being expensed as opposed to capitalized last year. The cash position of TechFinancials (LON:TECH) remains solid with $4.6 million in the company's coffers set aside for marketing and more R&D. Earlier this year the company has launched a simplified version of Forex trading catering to unexperienced traders.
The number of brokers who are using the trading solution which TechFinancials (LON:TECH) provides to the market has increased by 17 brands when compared to the beginning of this year, to a total of 65.
Commenting on the results, the firm's CEO, Asaf Lahav, said, “Notwithstanding a decrease in profit, the Group’s operational performance has been positive and the board remains confident about the Group’s future prospects. We have a strong cash position as a result of our AIM listing in March 2015, and it will be utilised to further invest in marketing and R&D as well as evaluating potential joint venture and acquisition opportunities to help facilitate future growth.”
US Operator of Binary Option Brands Fined $516K for $10M Scam
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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