Zetrix AI (ZETRIX) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2024 rose 31.1% year-over-year to RM242.28 million, with profit after taxation up 48.5% to RM165.34 million, driven by contributions from Zetrix blockchain services and token sales.

• Sequentially, revenue and profit after taxation increased by 4.0% and 5.8% from Q1 2024, respectively, reflecting continued growth in blockchain-related services.

Financial highlights

• Operating profit for Q2 2024 was RM195.49 million, up 43.1% year-over-year.

• Profit before taxation for the quarter reached RM165.96 million, a 48.5% increase year-over-year.

• Basic EPS for Q2 2024 was 2.2 sen, compared to 1.5 sen in Q2 2023.

• Net cash from operating activities for the first half of 2024 was RM510.27 million, up from RM288.14 million in the prior year.

• Cash and cash equivalents at period end stood at RM649.14 million.

Outlook and guidance

• The group expects to continue leveraging blockchain and Web 3.0 technologies, with the Zetrix platform integrated with China's Xing Huo national blockchain, supporting global expansion.

• The board remains cautiously optimistic about long-term prospects, anticipating further innovative service launches.