Tuesday, January 03, 2023
Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Third Quarter Results. Third quarter revenue totaled $101,235, down from $448,976 in the same period last year, as staking revenue dropped to $53,972 from $417,572 last year. On the positive side, Tokens.com reported two new revenue streams-leasing and gaming. Leasing revenue totaled $49,871 while gaming contributed $4,892. Operating loss was at $879.430 versus last year’s $167,331. Net loss for the Company was $1.8 million, or a loss of $0.02 per share versus net income of $4.1 million, or $0.05 per share.
Truncated Full Year Results. As the Company has switched its year-end to September 30 from December 31, Tokens also reported truncated full year results. For the nine months, revenue totaled $678,269 compared to $1.08 million in the same period last year. Operating loss was $2.0 million compared to $5.2 million. Net loss was $5.9 million, or a loss of $0.06 per share, compared to a net loss of $8.3 million, or a net loss of $0.12 per share last year.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.