Goldmoney Inc. Reports Financial Results for the Year Ended March 31, 2017

Goldmoney (TSX:XAU) has announced financial results for the year ended March 31, 2017.
As quoted in the press release:

Financial Highlights

• Consolidated Revenue of $523.8 million, an increase of $265.1 million (+102%) over FY 2016.
• Group Gross Operating Profit of $8.7 million, an increase of $4.6 million (+113%) over FY 2016.
• Gold equivalent client assets under custody growth of 10% to 34.8 tonnes ($1.86 Billion).
• Client gold metal weight growth of 6.5% year-over-year (“YoY”) to 20.74 tonnes.
• Goldmoney Network Revenue of $171.6 million, a 168% YoY increase from $63.95 million in FY 2016.
• Goldmoney Wealth generated an Operating Profit of $4.4 million in its first full-year of profit since present management took over, and a Gross Profit of $7.16 million, up 103% YoY.
• Basic and diluted net loss per share of $0.11, improved from $0.30 per share in FY 2016 ($0.03 loss for Q4, improved from $0.04 in Q3).
• Non-IFRS Adjusted Loss of $4.4 million, improved by $6.2 million over $10.6 million in FY 2016.
• Non-IFRS Tangible Common Equity of $58.8 million at March 31, 2017 vs. $59.9 million at March 31, 2016.
• Bitcoin position of $2.1 million (at $1,083 USD Bitcoin spot) at March 31, 2017.
• Currency loans totaling $8.6 million of balance sheet capital extended to platform users against fully-reserved metal.
• Schiff Gold business unit generated $33 million in revenues on four-and-a-half months of operation. The business unit is now in its integration phase and producing free cash flow to the group each month.
• Introduced a processing-type adjusted gold spread in the last weeks of FY 2017 that will reduce up to $3 million in annual net processing fee cash costs as compared to FY 2016.
• Results include increased YoY investments in new projects at the Goldmoney group level, including physical branch locations, Menē Inc., wealth service products, and other platform products and features not yet contributing revenue and anticipated to grow client base and generate higher unit margins.

Click here to read the full press release.