Astrid Intelligence (ASTR) H2 2024 earnings summary

Executive summary

• Strategic shift from skincare to Artificial Intelligence and AI Agent sectors, ceasing all skincare operations and dissolving related subsidiaries.

• Major management changes, including new Chairman and Finance Director appointments.

• Treasury management now includes significant investment in Solana (SOL) cryptocurrency, with staking to generate yield.

• Company name changed to reflect new AI-focused direction.

Financial highlights

• Reported net loss of £1,827,461 for the year ended 31 August 2024, improved from £3,309,721 loss in 2023.

• £583,624 of the loss attributed to inventory write-downs.

• Revenue from discontinued operations was £17,942, down from £67,236 year-over-year.

• Net assets at year-end were £514,554, down from £2,262,808 in 2023.

• Cash at bank was £213,627; cryptocurrency assets valued at £431,784 at year-end, rising to £630,000 post year-end.

Outlook and guidance

• Focus on profitable, cash-generative opportunities in AI and AI Agent sectors.

• Positive medium-term outlook for crypto holdings; may liquidate SOL position if better opportunities arise.