The diversified holding company Xalles Holdings Inc. (OTC:XALL) could well be on the radars of investors this morning after the company announced its financial results for the fiscal year ended on December 31, 2023. It could be a good move for investors to take a look at the major highlights of the company’s financial results. The company announced that it had generated revenues of $19,123,932 for the 2023 fiscal year, which worked out to a massive increase from the $5,907,335 in revenues in the 2022 fiscal year.
Xalles Holdings noted that the considerable boost in revenues had been brought about thanks to the successful integration of acquired assets and the expansion of the core services offered by the company. In the 2023 fiscal year, the company managed to bring in $2,789,958 in the form of net income, and that reflected a strong improvement from the $1079712 in net income in the 2022 fiscal year. The strong growth in net income was a reflection of the company’s strong cost management strategies and the strength of the business models of Xalles Holdings’ operating companies.
The earnings per basic and diluted share in the 2023 fiscal year had gone up to $0.00184 from $0.00089 in the 2022 fiscal year. There were some other key highlights in the fiscal year as well, and those included some key acquisitions. One of those was the acquisition of a 25% interest in Adaptive Analytics Inc., which would boost the company’s data analytics prowess.
Eventually, Adaptive could be turned into a fully owned subsidiary. In December 2023, Xalles Holdings completed the acquisition of Artemis Defense Technologies UK Ltd. The acquisition was meant to boost the company’s defense technology solutions portfolio. In 2024, the company completed the acquisition of CashXAI Inc., which further boosted the financial services offerings of the company.
