Concorde International Group Ltd. has reported its financial results for the fiscal year ending December 31, 2024. The company reported a minimal net non-GAAP loss before tax, attributed to ongoing transitions and local market challenges. Revenue for the year was relatively stable, decreasing slightly by $165,325, or 1.55%, from $10.656 million in 2023 to $10.491 million in 2024. This follows a significant revenue increase of 113% from $5.006 million in 2022 to $10.656 million in 2023. The company experienced a net loss of $83.623 million for 2024, primarily due to the fair value of share-based compensation expense amounting to $83.155 million and offering-related costs of $658,181. Despite the net loss, the company maintained operating profits. The increased expenses are largely attributed to strategic hiring of skilled personnel in key management roles for long-term growth and market expansion initiatives. Concorde International Group Ltd. emphasized its readiness for anticipated market expansion, aligning with its strategic decision to foster sustainable growth. The company remains confident in its ability to continue being profitable, with the additional spending seen as an initial investment toward future planning and strategic development.
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