Metalpha Technology Holding (MATH) AI Stock Analysis

• Market Cap: $117.71M
• Dividend Yield: N/A
• Average Volume (3M): 189.86K
• Price to Earnings (P/E): 7.2
• Beta (1Y): 0.27
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 19
• Sector: Financial
• Sector Strength: 71
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.16
• Shares Outstanding: 39,498,370
• 10 Day Avg. Volume: 112,808
• 30 Day Avg. Volume: 189,857
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.79
• Price to Sales (P/S): 1.47
• P/FCF Ratio: 2.66K
• Enterprise Value/Market Cap: -1.60
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 9.94
• Enterprise Value/Ebitda: -29.07
• 1Y Price Target: $3.50
• Price Target Upside: 17.45% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 70 Outperform
• Price Target: $3.50 ▲(17.45% Upside)

Metalpha Technology Holding's overall stock score is driven by strong financial performance, particularly in revenue growth and profitability, despite challenges in cash flow management. The stock appears undervalued based on its P/E ratio, but technical indicators suggest a lack of bullish momentum. The absence of earnings call data and corporate events means these factors do not influence the score.

Metalpha Technology Holding Business Overview & Revenue Model

Company Description

Metalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong. The company offers digital asset-based wealth management services, which include issuing traditional financial and cryptocurrency derivative products to over-the-counter clients, providing crypto derivative market making services, and proprietary trading of digital assets and crypto derivative products; and securities advising and asset management services. It serves institutional investors and high-net-worth individuals. The company was formerly known as Dragon Victory International Limited and changed its name to Metalpha Technology Holding Limited in November 2022. The company was incorporated in 2015 and is headquartered in Wan Chai, Hong Kong.

How the Company Makes Money

Metalpha generates revenue through multiple streams within the financial services ecosystem. Key revenue sources include transaction fees from trading activities on its platforms, subscription fees for premium services and tools, and management fees from assets under management (AUM) in its investment funds. The company also benefits from partnerships with exchanges, financial institutions, and technology providers that enhance its service offerings and expand its market reach. Additionally, Metalpha may earn revenue through advisory services and consultations related to blockchain integration and digital asset strategies, further diversifying its income portfolio.

Metalpha Technology Holding Financial Statement Overview

Summary

Metalpha Technology Holding shows strong revenue growth but faces ongoing profitability and cash flow challenges. The balance sheet reflects a strong cash position and manageable debt levels, which may provide some financial flexibility. However, negative operational and free cash flows pose a risk to sustainability unless profitability improves.

Income Statement

Metalpha Technology Holding has experienced significant revenue growth over the years, notably from $11,252 in 2020 to $16,763,545 in 2024, indicating robust expansion. However, the company has consistently reported net losses, with a net loss of $3,679,409 in 2024, implying profitability challenges. Gross Profit Margin for 2024 was approximately 33%, which is decent, but the negative EBIT and EBITDA margins reflect operational inefficiencies and financial stress.

Balance Sheet

The balance sheet shows a healthy cash position with $48,075,020 in cash and equivalents in 2024. The Debt-to-Equity ratio is low, indicating less reliance on debt financing, which is a positive sign of financial prudence. However, the company's equity has grown over time, reflecting improved financial stability, though the equity ratio of around 9.6% in 2024 indicates a high level of liabilities relative to assets.

Cash Flow

Cash flow from operations is negative, with a significant outflow of $11,599,148 in 2024, suggesting challenges in generating cash internally. Free cash flow is also negative, showing investment needs or operational inefficiencies. Despite this, the company has managed positive financing cash flows, partly offsetting the operational cash drain.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	44.57M	16.76M	5.69M	122.71K	225.75K
Gross Profit	-19.00M	21.30M	5.63M	2.02M	46.93K	-213.00K
EBITDA	6.50M	16.13M	-3.59M	-11.59M	-9.13M	-699.00K
Net Income	6.22M	15.89M	-3.68M	-20.56M	-14.44M	-5.15M
Balance Sheet
Total Assets	237.22M	246.77M	174.72M	56.08M	24.34M	15.63M
Cash, Cash Equivalents and Short-Term Investments	236.72M	20.70M	48.08M	9.47M	5.29M	982.54K
Total Debt	305.91K	212.69K	5.04M	133.28K	368.75K	4.06M
Total Liabilities	211.90M	210.21M	157.87M	47.48M	10.14M	7.08M
Stockholders Equity	25.32M	36.56M	16.85M	8.60M	12.79M	9.16M
Cash Flow
Free Cash Flow	-11.45M	24.68K	-11.60M	-1.14M	-5.15M	-3.10M
Operating Cash Flow	-16.79M	71.99K	-11.60M	-1.14M	-4.86M	-3.10M
Investing Cash Flow	15.90M	-23.31K	32.68K	-20.42K	422.89K	1.29M
Financing Cash Flow	8.92M	2.11M	9.73M	2.60M	8.98M	3.03M

Metalpha Technology Holding Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.98
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MATH, the sentiment is Positive. The current price of 2.98 is below the 20-day moving average (MA) of 3.00, below the 50-day MA of 3.27, and above the 200-day MA of 2.14, indicating a neutral trend. The MACD of -0.13 indicates Negative momentum. The RSI at 48.14 is Neutral, neither overbought nor oversold. The STOCH value of 50.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MATH.

Metalpha Technology Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MATH	70 Outperform	$117.71M	7.23	59.52%	―	―	―
Sector *	68 Neutral	$17.86B	12.02	10.34%	3.75%	9.68%	0.49%
FLYX	56 Neutral	$290.87M	28.86	26.01%	―	―	―
BLDE	55 Neutral	$361.09M	―	-8.39%	―	6.70%	63.35%
MESA	52 Neutral	$49.61M	―	-378.73%	―	-14.62%	-86.07%
SRFM	47 Neutral	$199.57M	―	138.02%	―	-3.95%	85.63%
SOAR	41 Neutral	$8.53M	―	-398.23%	―	-9.49%	97.34%