AtlasClear Sees 65% Revenue Growth and Equity Swings to $22.3M
ATCH•AtlasClear reported fiscal third quarter revenue of $4.2 million, a 65% increase year-over-year, and fiscal year-to-date revenue of $13.5 million, up 67%. Legacy de-SPAC liabilities dropped over 95% to under $1 million and stockholders’ equity improved to $22.3 million from a $6.8 million deficit.
1. Financial Results
AtlasClear reported fiscal third quarter revenue of $4.2 million, a 65% increase year-over-year, and fiscal year-to-date revenue of $13.5 million, up 67%. Net income reached $4.4 million year-to-date, or $0.05 per diluted share, and stock locate and securities lending revenue totaled $1.4 million for the quarter and $3.0 million year-to-date.
2. Balance Sheet Improvement
Legacy de-SPAC liabilities decreased by more than 95% to under $1 million, while stockholders’ equity swung to $22.3 million from a $6.8 million deficit. Cash and cash equivalents totaled $16.7 million, and total liquidity including segregated client and reserve cash reached approximately $41.2 million.
3. Strategic Developments
During the quarter AtlasClear signed or began onboarding five correspondent clearing relationships and submitted applications for the acquisition of Commercial Bancorp of Wyoming. The company also executed a letter of intent to acquire Ark Financial Services and its broker-dealer subsidiary, positioning the platform for broader clearing, capital markets and banking services.
