FRMO Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended February 29, 2024
April 11, 2024 at 08:17 pm EDT
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FRMO Corporation reported earnings results for the third quarter and nine months ended February 29, 2024. For the third quarter, the company reported revenue was USD 9.680 million compared to negative revenue of USD 109.732 million a year ago. Net income was USD 12.989 million compared to net loss of USD 34.901 million a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to diluted loss per share from continuing operations of USD 0.79 a year ago.
For the nine months, revenue was USD 88.271 million compared to USD 31.386 million a year ago. Net income was USD 50.021 million compared to USD 7.447 million a year ago. Diluted earnings per share from continuing operations was USD 1.14 compared to USD 0.17 a year ago.
FRMO Corporation is an intellectual capital firm, which identifies and manages investment strategies and business opportunities. The Company is focused on making strategic investments in public and private companies. The Company's investments in unconsolidated subsidiaries include Miami International Holdings, Inc., CNSX Markets, Inc., American Financial Exchange, LLC and Horizon Kinetics, LLC (Horizon Kinetics). Horizon Kinetics is an investment advisory and independent research firm, with research activities serving primarily institutional investors. Horizon Kinetics provides in-depth analysis of information-poor, under-researched companies and strategies to identify complex or overlooked situations that can offer an advantage to the investor. The Company's investments in limited partnerships include Horizon Multi-Strategy Fund, LP, CDK Partners, LP, Polestar Fund, LP, Multi-Disciplinary Fund, LP, Kinetics Institutional Partners, LP and others.
FRMO CORPORATION 
