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AQRU PLC - London-based decentralised finance incubator - Revenue in the six months ended April 30 fell to £106,000 from £554,000 a year earlier. Pretax loss narrows to £1.3 million from £2.3 million. Says that digital asset prices have recovered since the lows of 2022, however, Bitcoin and Ether both remain around 60% lower than their peak of Autumn 2021. Adds that ‘2023 has seen the market stabilise and larger institutional interest appears to be slowly entering the space as demonstrated by a recent Blackrock Bitcoin ETF application.’
Chief Executive Philip Blows says: ‘AQRU has weathered a particularly challenging period in the digital asset space with many investors exiting the market as asset prices remain depressed. Although this is consistent with previous cycles in the digital asset sector, we remain cautious, reducing costs wherever possible and halting development of non-performing business units.’
Current stock price: 0.105 pence
12-month change: down 91%
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