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MicroAlgo ( (MLGO) ) just unveiled an announcement.
MicroAlgo Inc. announced a profitable year for 2024, with total revenues of RMB 541.5 million (USD 75.3 million) and a net income of RMB 53.4 million (USD 7.3 million), marking a significant recovery from a net loss in 2023. This turnaround is attributed to the company’s strategic focus on central processing algorithm services, which accounted for all of its revenues in 2024. The company’s success is driven by its investment in research and development and its ability to meet the growing demand for these services in industries like internet advertising and online gaming. With a strong balance sheet, MicroAlgo is well-positioned to continue its growth and enhance its technology capabilities.
More about MicroAlgo
MicroAlgo Inc., a Cayman Islands exempted company, specializes in the development and application of bespoke central processing algorithms. The company offers comprehensive solutions by integrating these algorithms with software or hardware to help customers increase their customer base, improve end-user satisfaction, achieve cost savings, and reduce power consumption. Their services include algorithm optimization, accelerating computing power without hardware upgrades, lightweight data processing, and data intelligence services.
YTD Price Performance: 122.47%
Average Trading Volume: 25,176,248
Technical Sentiment Signal: Buy
Current Market Cap: $78.98M
For an in-depth examination of MLGO stock, go to TipRanks’ Stock Analysis page.