LONDON, May 19, 2025 (GLOBE NEWSWIRE) -- Trading platform company RedCloud Holdings plc (RCT) ("RedCloud" or "The Company") today reported its financial and business results for the full year 2024.
Full Year 2024 Financial Highlights include:
• FY 2024 Total Transaction Value (TTV) increased 111% to $2.5Bn.
• FY 2024 Revenue increased 135% to $46.5 million.
• Average ‘Transaction Based Revenue' increased to 1.9% from 1.7%.
RedCloud believes that data driven intelligence will enable the largest product inventories on Earth – Fast Moving Consumer Goods (FMCG) goods from food to pharmacy – to be traded in real-time by millions of businesses.
Full Year 2024 business highlights include:
• 184,731 products from 6,765 brands actively traded in bulk across the platform - from pharmacy to packaged goods, cooking oil, fresh meat and fish, highlighting breadth and depth of coverage across key FMCG categories.
• 33,786 Retailers purchasing essential food and supplies for consumers across large networks of independent and small-chain grocery stores, restaurants and bars in some of the most densely populated urban locations where it can be hard to find consistent supply to match demand.
• 760 trading Brand & Distributor customers, an increase of 175% YoY, trading, storing and transporting inventory in various bulk quantities to local distributors and wholesalers, satisfying supply-chain and consumer demand geographically and across key FMCG product categories. Brands, Distributors and Retailers are now able to trade with each other digitally and in real-time, making smarter decisions using Artificial Intelligence (AI) insights, while reaching new customers at scale through RedCloud's growing Open Commerce network.
Product Release and R&D highlights include:
• Artificial Intelligence (AI) Labs mining large quantities of first-party trading data through machine learning to expose actionable trading recommendations, exploring a range of benefits, including price benchmarking, inventory prediction and smart buying recommendations for customers.
• Agentic AI virtual trader technology that sources and sells bulk inventory in over the phone using a conversational interface that negotiates product options in required quantities, timing, delivery and pricing.
• Red101 Smart Assistant enabling retailers to stock their store with better products by understanding what is selling in volume locally, getting recommendations on alternative products, or finding prices and best delivery from multiple local suppliers.
• Retail Opportunity Maps interactive maps for brands, distributors and wholesalers to visually identify untapped retail growth opportunities. By displaying product penetration and active retailers across urban areas, businesses can take immediate action to maximize their retail coverage and market share.
• Category Price Benchmarking providing live product pricing analysis based on live sales data from multiple sources, enabling distributors to quickly optimize pricing in near real time.
"We're very pleased to release our first results as a public company following our March listing on the Nasdaq" said Justin Floyd, Founder and CEO, RedCloud. "We are working hard to increase our reach across Brands and Distributors in key categories for each of our markets. With strong progress in our trading volume, TTV and revenue results and the with exciting new AI and platform features above, we believe growth across key metrics demonstrates solid business momentum."
About RedCloud Holdings plc ("RedCloud" or "The Company")
RedCloud has developed and operates the RedAI Trading platform (the "Platform"), that facilities the trading of everyday consumer supplies of fast-moving consumer goods ("FMCG") products across business supply chains. RedCloud believes its Trading Platform solves a decades old problem of how to unlock and enable access to key purchase and sales data between brands, distributors and retailers in high growth consumer markets. Through RedCloud's Trading Platform, retailers, brands and distributors use data driven insights backed by artificial intelligence ("AI") to help make faster and easier business-to-business ("B2B") purchases and inventory decisions by breaking down complex purchasing behaviors of large product inventory catalogues. For more information about RedCloud and its Trading Platform, please visit www.redcloudtechnology.com and connect on LinkedIn and Facebook .
Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or our future financial or operating performance. When used in this press release, words such as "expect," "project," "estimate," "believe," "anticipate," "intend," "plan," "seek," "forecast," "target," "predict," "may," "should," "would," "could," and "will," the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements described in "Cautionary Note Regarding Forward-Looking Statements," "Item 3. Key Information – D. Risk Factors" and "Item 5. Operating and Financial Review and Prospects" in RedCloud's Annual Report on Form 20-F for the year ended December 31, 2024, which was filed with the Securities and Exchange Commission (the "SEC") on May 16, 2025, as well as other documents filed by the Company with the SEC. RedCloud undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Information contained on, or that can be accessed through, the Company's website or any other website or any social media is expressly not incorporated by reference into and is not a part of this press release.
Contacts:
Investor Relations
CORE IR
Louie Toma
(516) 222-2560
[email protected]
Media Relations
CORE IR
Jules Abraham
(917) 885-7378
[email protected]
