WILMINGTON, DE — Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) (OTC: ONFOP) revealed its fourth-quarter and full-year financial results for 2024, marking significant progress in several key areas. Notably, the company achieved a net income of $136,000 in Q4, its first positive net income since going public.
Fourth-quarter revenue surged by 96% year-over-year to $2.49 million, while gross profit rose 56% to $1.32 million. Operating expenses increased by 20%, reflecting Onfolio’s efforts to scale operations as it continues to grow. For the full year, revenue reached $7.82 million, a 49% jump from 2023, with gross profit advancing 39% to $4.5 million. Operating expenses fell sharply by 44% to $7.05 million, leading to a significant reduction in net loss, which improved by 77% to $2.15 million.
The company also completed the acquisition of Eastern Standard, a digital web agency specializing in branding and optimization, in late 2024, a move that aligns with Onfolio’s expansion strategy.
CEO Dominic Wells highlighted the company’s progress and optimism for the future. “The 4th Quarter 2024 saw us record a positive net income for the first time as a publicly traded company, even if it was small. Throughout 2024, we grew revenues, acquired more companies, reduced expenses, and strengthened our balance sheet,” said Wells.
Looking ahead, Wells emphasized continued growth in 2025 through expanded capital-raising efforts and strategic acquisitions. “We are a growth-minded organization with long-term views, and while there’s more work to do, we’re proud of how far we’ve come. Our progress has laid the foundation for sustained profitability in the years to come.”
With a new Reg D offering for Series A Preferred Shares launched in February 2025, Onfolio remains committed to building momentum and creating value for stakeholders.
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