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WILMINGTON, Del. - Onfolio Holdings Inc. (NASDAQ:ONFO), a company that acquires and manages digital marketing and online education businesses, saw its shares close 16.6% lower Monday and another 1% in after hours trading after reporting wider third-quarter losses.
The company posted a third-quarter loss of -$0.16 per share, with revenue reaching $2.74 million, representing a 36.3% increase YoY but a 12.9% sequential decline from the second quarter. The quarterly loss widened by 82.1% compared to the same period last year, rising from $0.3 million to $0.6 million.
Onfolio’s stock closed sharply lower following the earnings release, reflecting investor concerns about the company’s path to profitability despite revenue improvements.
"We continue to pursue both topline growth and operating loss improvements every quarter," said Onfolio CEO Dom Wells. "This quarter we saw good progress in our operating losses, especially if you remove non-cash expenses."
Gross profit for the quarter increased 46.9% YoY to $1.77 million, representing 64.6% of total revenue compared to 59.9% in the prior-year period. However, total operating expenses also rose 32.7% YoY to $2.04 million.
The company recently completed a $1 million financing round at a premium to market price in late October to strengthen its balance sheet. Onfolio also launched a strategic partnership program for content creators and continued development of its AI marketing subsidiary, Pace Generative.
Cash on hand stood at $0.40 million at the end of the quarter, down from $0.48 million at the end of 2024, highlighting ongoing liquidity challenges as the company works toward profitability.
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