The INX Digital Company, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 11:20 am
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The INX Digital Company, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 1.29 million compared to USD 1.33 million a year ago. Net loss was USD 13.64 million compared to USD 10.18 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.05 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.05 a year ago.
For the nine months, revenue was USD 4.46 million compared to USD 3.49 million a year ago. Net loss was USD 31.87 million compared to net income of USD 178.19 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to basic earnings per share from continuing operations of USD 0.87 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to diluted earnings per share from continuing operations of USD 0.82 a year ago.
The INX Digital Company, Inc. is engaged in the operation and ongoing development of integrated and regulated solutions for trading blockchain assets. Its INX.One trading platform is designed to help customers automate and coordinate front-office trading functions, middle-office risk management and reporting functions, as well as operations and accounting functions. The Company charges a fee at the transaction level. The transaction fee is calculated based on volume, which varies as a result of the value of the transaction. The Company operates through two segments: Digital assets and Brokerage. The Digital assets segment offers integrated, regulated solutions for trading blockchain assets that includes a digital asset trading platform, a security token trading platform, and other services and products related to the trading of digital assets. The Brokerage segment facilitates financial transactions between financial institutions and offers a full range of brokerage services to banks.