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AGBA Group (AGBA) investor relations material

AGBA Group Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary14 Nov, 2024

Executive summary

  • Completed merger with Triller Corp., redomiciled to Delaware, and rebranded as Triller Group Inc. on October 15, 2024, issuing 107.7M common shares and new preferred stock.

  • Operates as a leading financial and healthcare platform in Hong Kong, with four main business segments: Distribution, Platform, Fintech, and Healthcare.

  • Distribution Business remains the largest revenue contributor, but faced significant declines due to economic recession and outward migration in Hong Kong.

Financial highlights

  • Total revenue for Q3 2024 was $5.44M, down 58.8% year-over-year; nine-month revenue was $18.0M, down 56.7%.

  • Net loss for Q3 2024 was $9.4M, a 27.1% improvement year-over-year; nine-month net loss was $28.8M, an 18.9% improvement.

  • Operating expenses for Q3 2024 decreased 36.4% to $15.6M; nine-month operating expenses fell 43.8% to $43.8M.

  • Cash and cash equivalents as of September 30, 2024, were $5.1M, with $13.7M in restricted cash.

  • Working capital deficit increased to $40.5M as of September 30, 2024, from $22.2M at year-end 2023.

Outlook and guidance

  • Management expects continued business growth but acknowledges ongoing operating losses and negative cash flow.

  • Plans to raise additional capital through debt and/or equity offerings to fund operations and growth.

  • Focus remains on expanding distribution and platform businesses, with expectations of sales recovery as Hong Kong's economy stabilizes.

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Frequently asked questions

AGBA Group Holding Limited is a Hong Kong-based company that operates as a comprehensive financial and healthcare services provider, primarily within the Greater Bay Area of Southern China. The company is organized into four main business segments: Platform Business, Distribution Business, Healthcare Business, and Fintech Business. AGBA Group Holding Limited is headquartered in Wan Chai, Hong Kong, and its shares are listed on the NASDAQ.

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