I’ve mentioned this in a couple comments, but last week, we released our semi-annual earnings report, as filed with the SEC. We’re one of very few crypto projects to offer this kind of transparency and insight into our inner workings and finances.
Here’s some highlights:
- The first half of 2018 was defined by high sales growth and continued development of the XYO Network blockchain platform
- Sales for the six-month period ending June 30, 2018 were $15.0 million, up $14.6 million, on a year-over-year basis
- Approximately $13 million in sales were attributable to the pre-sale and main sale of XYO tokens
- Net Income increased $7.6 million year-over-year, up from a loss of $2 million over the same period in 2017
- XY brought in more than $1.4 million in revenue from the sales of our hardware devices in the six-month period ending June 30. This is more than 200% year-over-year revenue growth, and 40% more than we brought in through ALL of 2017, including the holiday season
- Generated positive cash flows despite significant investment in infrastructure and human capital, with a net increase of $1.2 million in cash and equivalents
The full 1-SA report for the first half of 2018 is available on the Securities and Exchange Commission (SEC) website here.