Toronto-based GoldMoney is on a “hockey stick” direction as gross revenues soar 2000% in the 3Q/15 calendar quarter from the prior quarter. Third quarter gross profit of $1.04 million for the Group which also includes BitGold.
There 344,496 users holding $1.56 billion in customer assets under administration in both platforms as of end of the quarter.
GoldMoney and BitGold continued to gain market share establishing the Company as the leader provider of gold based savings and payments accounts via a global closed-loop debit system.
The Company reported revenue for the period of $66.2 million, up over 2,000% from $2.8 million for the previous quarter following the July 20, 2015 acquisition of GoldMoney. Gross profit for the quarter was $1.04 million, driven primarily by the inclusion of the GoldMoney business results in the group’s financials.
In pursuing an aggressive growth strategy, the Company reports adjusted non-IFRS Net loss of $2,295,941, representing an all-in user acquisition cost of $8.80 for the group, and 65% lower than the previous quarter.
GoldMoney has over 525,000 clients from over 150 countries and $1.5 billion in client assets under administration.
GoldMoney is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. The JFSC is the main supervisory body that oversees and regulates Jersey’s large financial services industry.
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