AGBA Group Holding Ltd
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
ILLR$0.18-23.0%Stored close · as of Oct 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE LOSS
| For the three months ended June 30, | For the six months ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Loans interest income | $21,869 | $38,175 | $63,186 | $76,333 |
| Non-interest income: | ||||
| Commissions | 4,153,465 | 16,323,056 | 10,876,223 | 26,338,683 |
| Recurring asset management service fees | 503,207 | 768,014 | 1,153,293 | 1,548,976 |
| Recurring asset management service fees, related party | 242,220 | 241,688 | 484,350 | 480,621 |
| Total non-interest income | 4,898,892 | 17,332,758 | 12,513,866 | 28,368,280 |
| Total revenues | 4,920,761 | 17,370,933 | 12,577,052 | 28,444,613 |
| Operating expenses: | ||||
| Interest expense | (368,045) | (247,680) | (575,267) | (412,776) |
| Commission expense | (1,316,570) | (11,984,437) | (5,762,812) | (19,279,929) |
| Sales and marketing expense | (29,643) | (514,984) | (512,517) | (2,371,887) |
| Research and development expense | (495,062) | (1,058,812) | (953,400) | (1,937,798) |
| Personnel and benefit expense | (5,478,217) | (5,302,270) | (11,537,206) | (14,907,460) |
| Legal and professional fee | (1,487,984) | (5,574,562) | (2,113,096) | (8,970,002) |
| Legal and professional fee, related party | (249,999) | — | (499,998) | — |
| Office and operating fee, related party | (1,074,279) | (1,742,332) | (2,192,242) | (3,772,045) |
| Provision for allowance for expected credit losses | (751,356) | (333,276) | (1,742,694) | (333,276) |
| Other general and administrative expenses | (1,408,240) | (1,005,714) | (2,288,321) | (1,436,382) |
| Total operating expenses | (12,659,395) | (27,764,067) | (28,177,553) | (53,421,555) |
| Loss from operations | (7,738,634) | (10,393,134) | (15,600,501) | (24,976,942) |
| Other income (expense): | ||||
| Interest income | 74,616 | 197,255 | 87,213 | 367,781 |
| Foreign exchange (loss) gain, net | (50,710) | 349,539 | (278,051) | 905,850 |
| Investment income (loss), net | 52 | (441,568) | (37,304) | 1,281,496 |
| Change in fair value of warrant liabilities | (3,649,404) | 1,695 | (3,649,404) | 2,375 |
| Change in fair value of forward share purchase liability | — | — | — | (82,182) |
| Loss on settlement of forward share purchase agreement | — | (378,895) | — | (378,895) |
| Rental income | — | 78,764 | 14,066 | 138,271 |
| Sundry income | 17,705 | 27,423 | 94,893 | 84,067 |
| Total other (expense) income, net | (3,607,741) | (165,787) | (3,768,587) | 2,318,763 |
| Loss before income taxes | (11,346,375) | (10,558,921) | (19,369,088) | (22,658,179) |
| Income tax (expense) benefit | (23,235) | (26,368) | (60,756) | 280 |
| NET LOSS | $(11,369,610) | $(10,585,289) | $(19,429,844) | $(22,657,899) |
| Other comprehensive (loss) income: | ||||
| Foreign currency translation adjustment | (33,612) | 33,235 | 157,648 | (99,969) |
| COMPREHENSIVE LOSS | $(11,403,222) | $(10,552,054) | $(19,272,196) | $(22,757,868) |
| Weighted average number of ordinary shares outstanding – basic and diluted | 79,164,165 | 64,953,238 | 74,637,871 | 62,823,549 |
| Net loss per ordinary share – basic and diluted | $(0.14) | $(0.16) | $(0.26) | $(0.36) |
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