Nixxy expects revenue boost from Mexedia contract in March

NEW YORK CITY - Nixxy Inc. (NASDAQ:NIXX), a technology company with a market capitalization of $33 million, has announced it anticipates beginning to generate revenue from its contract with Mexedia SpA in March 2025. The announcement comes as the company’s stock has experienced significant volatility, falling nearly 70% year-to-date according to InvestingPro data. The company projects a monthly revenue run rate of $25-27 million from this new business line, although this is subject to market conditions and operational execution. Nixxy has recently acquired new technology assets intended to enhance its long-term value creation and market positioning.

In addition to the business update, Nixxy disclosed on Monday that it has withdrawn its Form S-1 Registration Statement, initially filed on December 5, 2024. This statement, which was not yet effective and had not been used to sell any securities, was deemed by the company as unnecessary for its current operations and consequently in the best interest of its shareholders to withdraw. InvestingPro analysis indicates the company currently maintains more cash than debt on its balance sheet, though its short-term obligations exceed liquid assets with a current ratio of 0.58.

Nixxy specializes in integrating innovative technology and data-driven insights into traditional markets to unlock growth and transformation opportunities. The company focuses on sectors ripe for digital disruption, aiming to overhaul conventional business models with its data and technology capabilities.

The forward-looking statements included in the company’s announcement outlined expectations for business strategy, financial position, and potential market opportunities. These statements, as per the company, are subject to various risks and uncertainties that could cause actual outcomes to differ materially from those projected. These risks include market conditions, business execution, integration of new assets, and regulatory changes.

Investors are cautioned to consider these risks and to review Nixxy’s filings with the Securities and Exchange Commission, including its most recent reports on Form 10-K and Form 10-Q, for a more complete picture of the potential challenges and uncertainties the company faces. According to InvestingPro, which offers 12 additional exclusive insights about Nixxy, analysts do not expect the company to be profitable this year, with projected EPS of -$0.62. The company’s overall financial health score is currently rated as WEAK, suggesting careful consideration before investment.

This business update is based on a press release statement and provides a snapshot of Nixxy’s current business trajectory and strategic decisions.

In other recent news, Nixxy, Inc. has secured a significant contract through its subsidiary Auralink AI with Mexedia SpA, an Italian technology and communications provider. This contract is expected to generate up to $10 million in monthly revenue starting May 2025. Additionally, Nixxy announced its entry into the telecommunications and data sectors with the acquisition of advanced AI and billing software, targeting a $5 million monthly revenue run rate by the second quarter of 2025. In a separate development, Nixxy initiated a private offering of zero-coupon convertible notes, totaling up to $50 million, with an innovative approach involving Bitcoin as collateral.

The company has also experienced changes in its leadership, with the resignation of CEO Granger Whitelaw and board member Christopher Mann. Whitelaw’s resignation was not due to any disagreements with the company, and Nixxy is actively searching for his successor. Meanwhile, Mann’s departure was attributed to increasing professional commitments. These leadership changes come amid Nixxy’s ongoing efforts to transform traditional markets through technology and strategic acquisitions.

Investors should note that Nixxy plans to provide financial guidance for the fiscal year and beyond in March. The company is also enhancing its corporate website to better communicate its strategy and focus areas to stakeholders. All these developments highlight Nixxy’s commitment to leveraging advanced technology and data-driven insights to drive growth and innovation.

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