FXDD Parent Posts $5.1M as Q4 2021 Revenue, Losses Deepen

Nukkleus Inc, which controls FXDD Trading and FXMarkets brands, published its quarterly financials, between October and December, reporting total revenue of almost $5.13 million. It was around 6.3 percent higher year-over-year.

The company generated $4.8 million as revenue from its general support services, while the remaining $329,015 came from financial services. The revenue from the general support services has remained unchanged for several quarters now.

There was a gross profit of $243,173 in the quarter. But, after the consideration of operating and other expenses, the company ended up with a net loss of more than $1.94 million, which was much higher than the loss of $53,595 in the same quarter of the previous year.

The functional currency of the company is the US dollar. So, the company also lost $2,227 as foreign currency translation loss in the quarter, taking the comprehensive loss to a bit higher.

Presence in the FX Industry

Nukkleus is a financial technology company that provides software and technology solutions to foreign exchange trading industry participants. It uses the FXDD brand for its services related to the retail forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term industry.

Meanwhile, the company is focused on expansion. Last May, it acquired a 70 percent stake in Match Financial in an all-stock deal with a purchase price of around $9.8 million. Later that year, it acquired 5 percent of the issued and outstanding ordinary shares of Jacobi Asset Management Holdings Limited, a company that is issuing regulated Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange-traded funds (ETF).

“The ramifications of the outbreak of the novel strain of COVID-19, reported to have started in December 2019 and spread globally, are filled with uncertainty and changing quickly. Our operations have continued during the COVID-19 pandemic, and we have not had significant disruption,” the latest SEC filing added.

“The Company is operating in a rapidly changing environment, so the extent to which COVID-19 impacts its business, operations and financial results from this point forward will depend on numerous evolving factors that the Company cannot accurately predict. Those factors include the following: the duration and scope of the pandemic; governmental, business and individuals’ actions that have been and continue to be taken in response to the pandemic.”