ISX Financial's Q4 Revenue Hits €10.5 Million: A 35% Growth

<p>ISX
Financial EU Plc (ISXPlc) has unveiled its fourth-quarter results for the
fiscal year 2023, marking a stride in its performance within the 'Bank Tech'
sector. The company's financial report reflects notable growth and
profitability, showcasing adaptability.</p><p>ISXPlc
Surpasses Expectations with €10.5 Million in Revenues</p><p>In
Q4 2023, ISXPlc reported revenues totaling €10,460,527, representing a
substantial 35% year-on-year increase. This surge in revenue surpasses initial
expectations. The company's gross profit for the quarter amounted to
€9,489,599, reflecting its ability to manage operational costs and drive
sustainable profitability. Moreover, ISXPlc recorded a profit before tax of
€3,074,627. Net income stood at €2,572,331. The growth momentum observed in the
quarter is further accentuated by a 39% quarter-over-quarter expansion in
revenues. </p><p>Nikogiannis
Karantzis, Managing Director, said: "I am thrilled with the results and
our growth profile, whilst maintaining profitability and margins. 2023 is
another profitable year for ISX, that sets the group up for a listing event on
a regulated market. As we celebrate these achievements, I invite our valued
clients, partners, and stakeholders to join us on this exciting journey ahead
as we prepare for listing."</p><blockquote><p lang="en" dir="ltr"><a href="https://twitter.com/FinancialIsx?ref_src=twsrc%5Etfw">@FinancialIsx</a> EU Plc is pleased to announce it Q4 2023 EarningsISX Financial EU Plc 2023 – Q4 Report <a href="https://t.co/28EaG2xFok">https://t.co/28EaG2xFok</a></p>— ISX Financial (@FinancialIsx) <a href="https://twitter.com/FinancialIsx/status/1752648197271412987?ref_src=twsrc%5Etfw">January 31, 2024</a></blockquote><p>iSignthis
Ltd Announces Creation of ISX Plc Amid Regulatory Challenges</p><p>Earlier,
<a href="https://www.financemagnates.com/">Finance Magnates</a> reported that <a href="https://www.financemagnates.com/fintech/isx-financial-reorganizing-for-public-listing-q3-revenue-jumps-11/">iSignthis
Ltd announced the creation of a new holding company, ISX Plc</a>. This
transition aligns with the company's aspirations for an initial public offering
(IPO) or a direct listing of the holding entity, marking a significant shift in
its corporate structure.</p><p>The
evolution of ISX Plc stems from the demerger of ISX Financial EU PLC from
iSignthis Ltd, establishing it as a distinct legal entity since September 2021.
Shareholders of iSignthis Ltd will maintain their ownership stakes in <a href="https://www.financemagnates.com/tag/isx-financial/">ISX Plc</a> in direct
correlation to their existing holdings. </p><p>This
retention mechanism aims to facilitate a seamless transition while ensuring
continuity for investors. The reorganization process, colloquially referred to
as the 'top hat' procedure, will involve the insertion of a holding company
above existing subsidiaries. This step will be executed through a
court-supervised scheme of arrangement and necessitates shareholder approval at
a forthcoming general meeting.</p><p>Commenting
on the reorganization, company spokespersons expressed their commitment to
navigating the regulatory landscape diligently. They acknowledged the
challenges posed by the approval process but remained steadfast in their
pursuit of regulatory compliance and transparency.</p>

This article was written by Tareq Sikder at www.financemagnates.com.