Zetrix AI (ZETRIX) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 rose 27.8% year-over-year to RM248.13 million, with profit after tax up 62.5% to RM195.19 million, driven by web3 service fees, Zetrix token sales, and fair value gains on investments.

• For the nine months ended September 2024, revenue increased 31% to RM723.37 million and profit after tax grew 53.4% to RM516.74 million compared to the same period last year.

Financial highlights

• Operating profit for Q3 2024 was RM202.07 million, up 35.1% year-over-year; for the nine months, it was RM582.31 million, up 43.6%.

• Fair value gain on investment in HeiTech Padu Berhad contributed significantly to profit.

• Basic EPS for Q3 2024 was 2.6 sen (Q3 2023: 1.6 sen); for nine months, 6.9 sen (2023: 4.5 sen).

• Net assets per share increased to 35.28 sen as at 30 September 2024 (31 December 2023: 29.55 sen).

Outlook and guidance

• The group expects continued growth by leveraging blockchain and Web 3.0 technologies, with Zetrix platform integration supporting global expansion.

• The board remains cautiously optimistic about long-term prospects, barring unforeseen circumstances.