Zetrix AI (ZETRIX) Q4 2024 earnings summary

Executive summary

• Revenue for Q4 2024 rose 32.2% year-over-year to RM293.53 million, with profit after tax up 20.7% to RM181.17 million, driven by web3 application service fees and Zetrix token sales.

• Full-year 2024 revenue increased 31.3% to RM1.02 billion, and profit after tax climbed 43.4% to RM697.91 million, supported by blockchain-related services and fair value gains on investments.

• Sequentially, Q4 revenue grew 18.3% from Q3, but profit after tax declined 7.2% due to a fair value loss on investment in HeiTech Padu Berhad.

Financial highlights

• Operating profit for Q4 2024 was RM223.77 million, up 26.2% year-over-year; full-year operating profit reached RM806.08 million, up 38.3%.

• Basic EPS for Q4 was 2.4 sen (up from 2.0 sen), and for the year 9.3 sen (up from 6.6 sen).

• Net assets per share increased to 37.87 sen from 29.55 sen year-over-year.

• Cash and cash equivalents at year-end rose to RM374.19 million from RM84.14 million.

Outlook and guidance

• Plans to leverage AI and blockchain for new service offerings in Malaysia and globally, including the Malaysia Blockchain Infrastructure and integration with China's Xing Huo platform.

• Board remains cautiously optimistic about long-term prospects, expecting continued innovation and growth.