Metalpha Technology Holding (MATH) AI Stock Analysis

• Market Cap: $143.13M
• Dividend Yield: N/A
• Average Volume (3M): 265.76K
• Price to Earnings (P/E): 23.0
• Beta (1Y): 0.28
• Revenue Growth: N/A
• EPS Growth: 86.23%
• Country: US
• Employees: 19
• Sector: Financial
• Sector Strength: 80
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.16
• Shares Outstanding: 38,373,370
• 10 Day Avg. Volume: 126,604
• 30 Day Avg. Volume: 265,756
• PEG Ratio: 0.36
• Price to Book (P/B): 3.26
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -24.51
• Enterprise Value/Market Cap: 0.11
• Enterprise Value/Revenue: -37.29
• Enterprise Value/Gross Profit: -0.85
• Enterprise Value/Ebitda: -0.77
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 54 Neutral
• Price Target: ―

Metalpha Technology Holding demonstrates robust revenue growth and a stable balance sheet, but it struggles with profitability and negative cash flows, creating financial sustainability concerns. The technical analysis suggests current strong momentum, but caution is advised due to overbought conditions. The lack of profitability and dividend yield further dampens the stock's valuation appeal.

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 Technology Holding makes money through various revenue streams within the digital asset and fintech space. Primarily, the company generates income by offering digital asset trading services, where it earns fees and commissions from transactions executed on its platform. Additionally, MATH provides custody solutions for digital assets, charging clients for secure storage and management of their cryptocurrency holdings. The company also offers financial advisory services, assisting clients with investment strategies and portfolio management in the digital currency market, thereby earning consulting fees. Furthermore, strategic partnerships with other fintech companies and institutions enable MATH to expand its offerings and capture additional revenue opportunities in the rapidly growing digital finance ecosystem.

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	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	0.00	16.76M	5.69M	122.71K	225.75K	11.25K
Gross Profit	-19.00M	5.63M	2.02M	46.93K	-213.00K	11.25K
EBITDA	6.50M	-3.59M	-11.59M	-9.13M	-699.00K	-1.36M
Net Income	6.22M	-3.68M	-20.56M	-14.44M	-5.15M	-1.42M
Balance Sheet
Total Assets	237.22M	174.72M	56.08M	24.34M	15.63M	9.96M
Cash, Cash Equivalents and Short-Term Investments	236.72M	48.08M	9.47M	5.29M	982.54K	15.93K
Total Debt	305.91K	5.04M	133.28K	368.75K	4.06M	63.53K
Total Liabilities	211.90M	157.87M	47.48M	10.14M	7.08M	2.59M
Stockholders Equity	25.32M	16.85M	8.60M	12.79M	9.16M	7.92M
Cash Flow
Free Cash Flow	-11.45M	-11.60M	-1.14M	-5.15M	-3.10M	-1.44M
Operating Cash Flow	-16.79M	-11.60M	-1.14M	-4.86M	-3.10M	-1.44M
Investing Cash Flow	15.90M	32.68K	-20.42K	422.89K	1.29M	739.30K
Financing Cash Flow	8.92M	9.73M	2.60M	8.98M	3.03M	258.26K

Metalpha Technology Holding Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.76
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 3.76 is above the 20-day moving average (MA) of 3.46, above the 50-day MA of 2.96, and above the 200-day MA of 1.82, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 60.75 is Neutral, neither overbought nor oversold. The STOCH value of 85.58 is Negative, 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
Sector *	67 Neutral	$16.81B	11.85	9.77%	3.76%	12.07%	-8.35%
BLDE	58 Neutral	$343.51M	―	-11.64%	―	8.67%	49.62%
MATH	54 Neutral	$143.13M	22.97	34.82%	―	―	86.23%
MESA	51 Neutral	$37.61M	―	-472.57%	―	-11.55%	-76.38%
FLYX	49 Neutral	$197.12M	28.86	26.01%	―	―	―
SRFM	47 Neutral	$205.64M	―	138.02%	―	31.17%	83.01%
SOAR	38 Underperform	$2.76M	―	-398.23%	―	-4.90%	81.88%