Vox Valor Capital (VOX) H2 2024 earnings summary

Executive summary

• Revenue grew to USD 12.1 million for the year ended 31 December 2024, up from USD 5.6 million year-over-year, driven by expansion in mobile app marketing services.

• Operating loss increased to USD 144k (2023: loss USD 90k), with total comprehensive loss at USD 946k (2023: profit USD 469k), mainly due to higher interest expenses.

• Gross margin declined to 9% (USD 1.1m) from 23% (USD 1.3m) year-over-year, reflecting increased costs to attract new customers.

• Cash balance at year-end was USD 13k, down from USD 144k, with management confident in the Group's ability to continue as a going concern.

• The company changed its accounting reference date to 31 May, with the next audited statements covering a 17-month period.

Financial highlights

• Mobio Singapore revenue rose to USD 7m (2023: USD 719k); Mobio Global Ltd revenue was USD 4.3m (2023: USD 4.8m); Mobio Global Inc (US) revenue was USD 827k (2023: USD 13k).

• Operating expenses increased to USD 12.2m (2023: USD 5.7m), mainly from higher platform, publisher, and contractor fees.

• Interest expenses surged to USD 667k, accounting for 71% of the total loss.

• Basic and diluted loss per share was USD 0.04 (2023: USD 0.01).

• Cash outflow from operations was USD 365k; net cash at year-end was USD 13k.

Outlook and guidance

• Board remains cautiously optimistic, continuing to seek M&A opportunities in mobile content and advertising technologies.

• Elevated interest rates and inflation are expected to continue impacting service costs.