Quarterly Revenue and Margin Momentum:
- Q4 2023 Revenue: 14,066,325; Cost of Revenue: 4,558,949; Gross Profit: 9,507,376; Gross Margin: 0.6759 (≈ 67.6%)
- YoY Revenue Growth (Q4 2023 vs Q4 2022): 14.07m vs 5.95m ≈ +136%
- EBITDA: 7,826,786; EBITDA Margin: 0.5564 (≈ 55.6%)
- Operating Income: 6,969,790; Operating Margin: 0.4955 (≈ 49.5%)
- Net Income: 6,025,176; Net Margin: 0.4283 (≈ 42.8%)
- EPS: 0.23; Shares (weighted avg): 25,926,155
Profitability and Efficiency:
- Net Income Margin and ROE: Net income margin 42.8%; Return on Equity (ROE) ≈ 28.7%
- Interest Coverage: 87.24x, indicating ample interest coverage given level of debt
- Asset Turnover: 0.519; Fixed Asset Turnover ≈ 14.22; Receivables Turnover ≈ 3.94; Payables Turnover ≈ 8.58
Cash Flow and Liquidity:
- Operating Cash Flow: 7,747,799; Free Cash Flow: 1,614,050
- Net Change in Cash: 2,256,329; Cash at End of Period: 10,437,580; Beginning Cash: 8,181,251
- Cash Conversion and Leverage: Net Debt = -7,122,642 (net cash position); Total Debt ≈ 3,314,938; Cash and Short-Term Investments ≈ 11,217,580
Balance Sheet and Capital Structure:
- Total Assets: 27,119,321; Total Liabilities: 6,302,366; Total Stockholders’ Equity: 20,957,485
- Current Ratio: 3.11; Quick Ratio: 3.11; Cash Ratio: 1.817
- Long-Term Debt: 556,674; Short-Term Debt: 2,758,264; Debt-to-Capitalization: 0.137; Debt-to-Equity: 0.158
Valuation Context:
- Price-to-Sales ≈ 9.40; Price-to-Book ≈ 6.31; Enterprise Value Multiple ≈ 16.10. These multiples imply the market prices in a growth-oriented narrative for metaverse-related services, balanced by substantial profitability and a solid net cash position.