The INX Digital Company, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:35 pm EDT
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The INX Digital Company, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 1.59 million compared to USD 0.608 million a year ago. Net loss was USD 17.55 million compared to net income of USD 76.88 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to basic earnings per share from continuing operations of USD 0.38 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to diluted earnings per share from continuing operations of USD 0.36 a year ago.
For the six months, revenue was USD 3.17 million compared to USD 2.17 million a year ago. Net loss was USD 18.23 million compared to net income of USD 188.37 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to basic earnings per share from continuing operations of USD 0.93 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to diluted earnings per share from continuing operations of USD 0.88 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.