WASHINGTON, DC, Aug. 15, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Xalles Holdings Inc., a premier fintech holding company specializing in cutting-edge technology and financial services solutions, today announced its financial performance for the second quarter ending June 30, 2023. This quarter marked a streak of 8 consecutive quarters of record revenues for the company.
For the second quarter of 2023, Xalles Holdings reported total revenue of $4,708,947, marking a significant 21% increase over Q1. The company's net profit stood at $728,249, reflecting a 12% increase from the previous quarter. This robust growth is largely attributable to the evolution of entities acquired earlier this year and last year. Additionally, the company expects its Q2 acquisitions to further bolster the financial metrics in the latter half of 2023 and into subsequent years.
Alongside these financial achievements, Xalles Holdings made three strategic acquisitions during Q2. The company welcomed Appy Perks, Inc. to the Xalles Commerce business group and Patient Healthcare Solutions, Inc. to the Xalles Health business group as wholly owned subsidiaries. Furthermore, Xalles initiated a strategic investment in Adaptive Analytics, Inc., acquiring a 25% stake within the Xalles Technology business group. The second closing is planned to acquire the remaining 75% stake.
Mr. Thomas Nash, CEO of Xalles Holdings, commented, "Our unique business model – which emphasizes the acquisition, alignment, growth, and eventual spin-off of high-potential fintech ventures – continues to drive our progress. With a focus on disruptive innovations, recurring revenue generation, and the promise of significant asset appreciation, we remain steadfast in our commitment to generating value for all stakeholders."
As Xalles Holdings forges ahead into the second half of the year, it remains dedicated to its growth strategy. The company will continue to collaborate with its current subsidiaries, simultaneously exploring further acquisition opportunities from its target list, with the goal of fortifying its existing business segments and enhancing financial performance.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places emphasis on leveraging blockchain and other technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: Xalles.com.
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Investor Relations Contact:
IR@xalles.com
Xalles.com
IR: 202.779.1460
