ISX Financial impresses with Q2 figures: strong growth on the way to IPO
“There's always buying and paying”: ISX Financial EU PLC (“ISX Plc”) benefits from this fact. The banking and regtech company published strong quarterly figures at the end of July 2024 that impressively underline the growth of the IPO candidate.
74% more revenue, 337% higher net profit
ISX Plc (ISIN: CY0200861017) reported significant growth in the second quarter of 2024, which was underlined by several positive key figures¹. Particularly impressive is the net profit, which reached EUR 5.2 million, an increase of 337% compared to the previous year. The increase in net profit is primarily the result of improved operational efficiency and increased utilisation of the existing infrastructure. Company turnover also rose by an impressive 74% year-on-year to EUR 13.2 million and the company's net assets grew significantly by 123% to EUR 99.9 million.
These figures underline ISX Plc's strong financial position, which in turn enables strategic investment in research and development, and team growth. These are all measures that will be crucial to the company's future competitiveness.
Optimistic outlook thanks to strong finances and innovation
The management was also particularly proud of the progress made in acquiring new customers and expanding the product range, which have contributed significantly to sales growth. For example, ISX Plc has received a formal Notice of Allowance from the US Patent and Trademark Office (USPTO) for a new patent in the “Verifying identity with uninterrupted video” family². This patent demonstrates ISX Plc's commitment to increasing security and convenience for its users. This is an identity verification process that uses a continuous video recording to confirm a person's identity - for example in the e-commerce sector.
The strong Q2 figures in combination with the strategically sound growth plans should pave the way for ISX Plc's planned IPO on an EU or UK-regulated market. To this end, ISX Plc has retained Clifford Chance and Chrysses Demetriades to assist with the listing and has commenced the preparation of the EU compliant prospectus, with CDB GlobalCapital acting as CySEC approved underwriter.
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ISX Financial
Sources:
¹ https://www.isx.financial/hubfs/ISX%20Announcements/2024/ISX2Q24.pdf
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Conflicts of interest: There is a paid IR and PR contract with ISX Financial. The content of the services is, among other things, to increase the level of awareness of the company. Dr. Reuter Investor Relations is therefore acting in the interests of ISX Financial in the preparation and distribution of this article. It is a promotional editorial presentation.
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