Earnings ·
NFT Limited reports net loss of $473,690 as revenue declines 64.7% to $112,014
MINFT Ltd
NFT Limited reported a net loss of $473,690 for the six months ended June 30, 2026, compared to a loss of $810,938 in the prior year period. Revenue declined 64.7% to $112,014 due to lower NFT transaction volumes, while operating expenses decreased to $589,917 from cost-reduction initiatives. The company generated $95.4 million in net cash from operations, primarily driven by the recovery of a $98.7 million advance payment for failed platform software development. Cash and cash equivalents rose to $98.8 million as of June 30, 2026. Subsequent events include an August 24, 2026 registered offering that raised approximately $1.79 million in net proceeds and the acquisition of Xihang Technology Limited for $200,000 on August 11, 2026. The company operates an electronic online platform for artists and investors to offer and trade valuable artwork.