FNZ's global expansion plans come at a price

FNZ has reported a US$550.2 million loss for the year ending December 31 but it’s all part of its global expansion plans.

While the loss is a big number it has to be put into perspective with its investment in expansion. Not to be ignored is that its revenue grew 57% to US1.49 billion in the 2023 year.

Chief executive and founder, Adrian Durham, told Good Returns that while the company overall made a loss the financial performance of its core business "is highly profitable".

He says FNZ has EBITDA of around US$300 million, from US$1.4 billion of gross revenue.