Alert: Global Mofy Financial Results Webcast and Presentation Now Available
July 24 2024 - 8:30AM
Global Mofy Metaverse Limited (the "Company" or "Global Mofy")
(Nasdaq: GMM), a generative AI-driven technology solutions provider
engaged in virtual content production and the development of 3D
digital assets for use in the broader digital content industry,
announced replay availability of the Company’s financial results
webcast and management presentation for the six months ended March
31, 2024 on
https://edge.media-server.com/mmc/p/3t6xp7iz (available for 12
months starting July 23, 2024) and its investor relations website
at https://ir.globalmofy.cn/.
Global Mofy Metaverse reported record results before the Nasdaq
opened yesterday, with revenue, gross margin, and EPS all surging
on a year-over-year basis to new company records.
Financial highlights covered on the webcast and
management presentation for the six months ended March 31, 2024
include:
- Revenue achieved a record of $19.9 million, up 55.3% YoY from
$12.8 Million
- Gross Profit Increased by 135.1% YoY to $11.8 Million from $5.0
Million
- Gross Margin Expanded to 59.3% from 39.2% in the year ago
period
- EPS Surged by 1537.9% to $0.37 from $0.02 in the year ago
period
Select operational and strategic highlights for the six
months ended March 31, 2024 include:
- Strategic Transformation: Global Mofy has
undergone a significant strategic transformation to embrace the
changing market and rising innovation and involvement of AI
technology. This initiative aims to position the Company as an
AI-driven technology solutions provider, focusing on integrating AI
technologies across our operations. Key initiatives include the
development of new AI tools and platforms, such as our generative
AI platform Gausspeed, developed in collaboration with NVIDIA
Omniverse. These advancements have significantly enhanced the
company’s content creation efficiency and reduced production costs,
while also helping the broader digital content industry by
improving overall productivity and reducing costs.
- Global Market Expansion: The Company has
expanded its global footprint with offices established in Beijing,
Zhejiang, and now in California, United States, along with the
establishment of its North American subsidiary, GMM DISCOVERY LLC.
This strategic expansion enhances the ability to serve a diverse
client base and explore new market opportunities, solidifying its
aim to become a global leader in virtual content production and 3D
digital asset development.
- Establishment of $69 Million Fund: The Company
successfully entered a letter of intent (“LOI”) with strategic
partners to launch a $69 million fund to foster growth
opportunities in the AI, digital economy, and entertainment
sectors. This fund aims to support acquisitions and investments in
Global Mofy’s upstream and downstream companies, enhancing market
competitiveness and driving its mission, value, and innovation
across the industry.
Haogang Yang, founder and CEO of Global Mofy, noted, “The
digital revolution is transforming industries worldwide, and Global
Mofy is at the forefront, partnering with leading technology firms
to transform traditional content creation into an AI-powered,
efficient, and innovative process. Given our outstanding financial
results for the first half of 2024, we are more confident than ever
in our decision to pursue an aggressive strategic transformation
towards AI-driven solutions. Additionally, the recent establishment
of our North American subsidiary, GMM DISCOVERY, marks a
significant step for our company towards globalization and
expanding our market reach. With our commitment to excellence and a
clear vision for the future, we are poised for sustained growth and
success in the evolving digital content industry, ensuring
meaningful value to our shareholders in the future.”
About Global Mofy Metaverse LimitedGlobal Mofy
Metaverse Limited (Nasdaq: GMM) is a generative AI-driven
technology solutions provider engaged in virtual content
production, and the development of digital assets for the digital
content industry. Utilizing its proprietary "Mofy Lab" technology
platform, which consists of interactive 3D and artificial
intelligence ("AI") technology, the Company creates high-definition
virtual versions of a wide range of physical world objects in 3D
ranging from characters, objects to scenes and more. The digital
assets can be used in different applications, including movies, TV
series, AR/VR, animation, advertising, gaming, and more. Global
Mofy Metaverse is one of the leading digital asset banks in China,
which consists of more than 100,000 high-precision 3D digital
assets. For more information, please visit www.globalmofy.cn/ or
ir.globalmofy.cn.
Forward-Looking StatementThis press release
contains forward-looking statements. Forward-looking statements
include statements concerning plans, objectives, goals, strategies,
future events or performance, and underlying assumptions and other
statements that are other than statements of historical facts. When
the Company uses words such as "may," "will," "intend," "should,"
"believe," "expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. These forward-looking statements
include, without limitation, the Company's statements regarding the
expected trading of its Ordinary Shares on the Nasdaq Capital
Market and the closing of the Offering. Forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the "Risk Factors" section of the
registration statement filed with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
Global Mofy Metaverse Ltd.Investor Relations
Departmentir@mof-vfx.com |
Global IR PartnersDavid PasqualeGMM@globalirpartners.com |
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