Octopus Digital Ltd. (OCTOPUS) recently held an analyst briefing to discuss its financial results for the year ended December 24, 2023, and its future outlook. Here are the key highlights:

The company reported a topline of PKR 1.3 billion for CY24, representing a 37.7% year-over-year increase. Gross margins improved to 48.3% from 40.8% in the previous year. However, earnings declined by 45% year-over-year to PKR 205 million (EPS: PKR 1.28) due to the absence of exchange gains.

Octopus Digital currently operates in Pakistan and the Middle East region and plans to expand to the North American market after raising capital. The company projects revenue of PKR 2.1 billion for CY25, with PKR 1.75 billion from recurring revenue and PKR 0.35 billion from non-recurring revenue.

The company’s pipeline projections for CY25 include an estimated AMS ME pipeline of approximately USD 15 million and expected orders of USD 8 million. In Pakistan, the AMS pipeline is projected at USD 2.2 million, with anticipated orders of USD 1.2 million.

These developments indicate Octopus Digital’s growth strategy and potential expansion into new markets.

Courtesy – AKD Research