Netcapital Reports Annual Revenue Growth of 169% to $4.7 Million

Netcapital Inc. (OTCQX: NCPL) reported a remarkable fiscal 2021, achieving revenues of $4,721,003, a 169% increase year-over-year, and a net income surge of 143%, totaling $1,469,660.

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08/31/2021 - 04:46 PM EDT

Funding Portal Market Share Triples

Highlights:

Net income increased by 143% to $1,469,660 with fully diluted EPS of $0.89
Cash balances grew to $2.5 million
Equity securities at fair value rose by 348% to $6,298,008
Book value rose to $8.61 per share

BOSTON--(BUSINESS WIRE)-- Netcapital Inc. (OTCQX: NCPL), a digital private markets ecosystem, announced fiscal 2021 revenues of $4,721,003, an increase of 169% over the previous year. Net income increased by 143% to $1,469,660, resulting in fully diluted earnings per share of $0.89.

“This was a transformational year for our company, as the purchase of the Netcapital funding portal placed us at the forefront of emerging technology in digital capital markets,” said Dr. Cecilia Lenk, CEO of Netcapital Inc. “With the significant increase in Reg CF offering limits from $1 million to $5 million, the outlook for the industry remains bright, and we are optimistic about our future growth prospects.”

“Our portfolio companies also continue to perform well,” added Dr. Lenk. “Deuce Drone successfully completed its first food delivery operation. Zelgor completed a stability test launch of its first mobile game, Noobs in Space, and ChipBrain sold out two rounds of financing on the Netcapital platform.”

“The Netcapital funding portal is showing strong momentum. More than $17 million dollars were invested through the platform this year, while our market share has more than tripled. Growth accelerated into the fourth quarter, with dollars invested through the portal up 740% vs. the fourth quarter of last year,” said Jason Frishman, CEO of Netcapital Funding Portal Inc. “Visitors to the site have been surging, with more than 300,000 unique visitors to netcapital.com during the month of June, while recent enhancements to our site have helped propel a significant increase in the number of investor accounts. We look forward to delivering continued momentum going forward.”

Netcapital Inc. Will Host An Earnings Conference Call on September 8, 2021

Netcapital Inc. will discuss its fiscal 2021 results via an investor conference call on Wednesday, September 8, 2021 at 12:00 p.m. ET. To join the call, please use the following access numbers:

Phone Numbers: 844-985-2012, 973-528-0138
Conference ID: 641245

Those unable to listen to the call live may access a replay via the Investors section of Netcapital Inc.’s website: www.netcapitalinc.com.

For additional disclosure regarding operating results, please refer to the Annual Report on Form 10-K for the period ended April 30, 2021, which has been filed with the Securities and Exchange Commission.

About Netcapital Inc.:

Netcapital Inc. is a fintech company with a scalable technology platform that allows private companies to raise capital online and provides private equity investment opportunities to investors. The company's consulting group, Netcapital Advisors, provides marketing and strategic advice and takes equity positions in select companies with disruptive technologies. The Netcapital funding portal is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), a registered national securities association.

The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.