9 min to 20mins
for all de ramp
9 min .
look at his track rec
dont be as hole
ffs
this will not go under
would be nice
6 p close
1.91 to buy
wow
mode we come good
up 32%
up 11%
Jonathan Rowland, the chair of Mode, was pleased by the results.
“The focus in 2021 was on product development and growth. The delivery of these ambitious growth plans did see operating costs increase in 2021. A combination of hiring more talent and costs associated with advertising and the listing saw these go up as we anticipated they would,” Rowland said.
“However, the revenue increases we are reporting are a clear indicator that our proposition is a compelling one. In addition, our successful oversubscribed convertible loan also shows that despite recent market volatility in crypto and tech, Mode continues to attract strong interest from the investor community. Mode is uniquely positioned to lead the next wave of crypto adoption and evolution and as a business, we are primed for fast future growth in 2022 and beyond," he added.
An increase in revenue in 2021 to £1.31mln from £450,000 in 2020 was accompanied by an increase in administrative costs to £5.86mln due to higher people costs of £4.16mln and share option expenses of £743,000. Advertising spend rose to £1.39mln from £188,000 in 2020.
“2021 was a big year for Mode. Our aim was to grow our user base and give them the products they want. Put simply, we achieved what we set out to do,” said Rita Liu, the chief executive officer of Mode.
Dr Jose Sanchez Loureda, Mode CTO comments: "Mode is unique thanks to its proposition, FCA registration, and how it interacts with both businesses and consumers. Its expertise in the crypto space, product offering and innovative mindset is really exciting, and I look forward to playing my part in achieving our business ambitions. It's an exciting time in terms of company growth, so I'm delighted to join the team and get going."
Stock A 1 91,446,096 37,496,593 41.0% 0 0.0% 41.0%
Shareholders
Name Equities %
Jonathan David Rowland 18,973,559 20.7%
Ruskin Capital Ltd. 11,172,120 12.2%
Ryan Wallace Moore 6,606,094 7.22%
Canaccord Genuity Wealth Ltd. 3,636,364 3.98%
Miton Asset Management Ltd. 3,560,000 3.89%
Bonderman Family LP 3,538,427 3.87%
Williams David Caroline 3,293,339 3.60%
Simon Lean 2,408,056 2.63%
Linley Ltd. 2,408,056 2.63%
Liwathon Ltd. 2,408,056 2.63%
zpr.io/NnjZBHSgaATT
In 2 months, we’ve almost doubled the size of our merchant list - with more huge names being added every week ??
(Alliance News) - Mode Global Holdings PLC said on Tuesday its loss widened its in 2021 despite significant growth in revenue and its user base, as administrative costs put a damper on otherwise "pleasing" results.
Shares in the bitcoin banking app were down 13% at 7.16 pence on Tuesday morning in London.
Mode Global reported annual revenue has jumped to GBP1.3 million in 2021 from GBP450,000 the previous year as its user base more than tripled over the 12-month period. This, the company said, was driven by significant year-on-year growth in bitcoin trading.
However, this figure was dampened by a significant surge in administrative costs. The costs rocketed to GBP9.4 million from GBP3.5 million the previous year as a result of higher people costs and share option expenses.
Advertising spend also increased, rising to GBP1.4 million in the year from just GBP188,000 the year prior. Mode Global said the increased spend was done to drive growth in revenue.
Mode Global's pretax loss widened to GBP9.2 million from GBP3.9 million.
Chair Jonathan Rowland said: "These results are very pleasing. The focus in 2021 was on product development and growth. The delivery of these ambitious growth plans did see operating costs increase in 2021
"However, the revenue increases we are reporting are a clear indicator that our proposition is a compelling one. In addition, our successful oversubscribed convertible loan also shows that despite recent market volatility in crypto and tech, Mode continues to attract strong interest from the investor community."
By Heather Rydings; heatherrydings@alliancenews.com