Q3 2022 Financial Results $FRNT.V (FRNT Financial) recently released their quarterly results. They've shown some really impressive improvements and growth as they continue to bring institutional investors into the crypto space through their services. I'll list some of the highlights below.
- A record $1.14M in revenue for the quarter (up from just $40K last year).
- Adjusting the net loss for the period for non-cash items (i.e. interest expense, change in unrealized gain on investments, government assistance, share-based compensation and depreciation), results in an adjusted net income of $652,265 compared to an adjusted net loss of $277,361 in 2021
- $1.6M of cash on hand with a very healthy current ratio of 5 puts them in a good position for longevity without the need for immediate capital raises.
Check it out here: https://www.newswire.ca/news-releases/frnt-financial-announces-q3-2022-financial-results-876310381.html](https://www.newswire.ca/news-releases/frnt-financial-announces-q3-2022-financial-results-876310381.html
Great to see the company’s continued growth as they look to expand operations. Their non-directional asset focus has helped them greatly weather the recent market downturn. The new OSC Portfolio Management license will allow $FRNT.V to increase its services as an asset manager. Overall, great results from the release, so I'm excited to see what they bring next. Considering the revenue growth, the current valuation is definitely something to keep an eye on.