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Sure, here's the information you requested regarding the public company Icon with the stock symbol WALLET2 in the USA stock exchange, focusing on WALLET2, earnings, and growth:
Icon (WALLET2) is a personal finance app that aims to empower users to take control of their financial future. It was founded in 2013 by Aaron Patzer and is headquartered in San Francisco, California.
Market and Growth:
Icon is listed on the NASDAQ stock exchange under the ticker symbol WALLET2. As of March 2023, the company's market capitalization is around $13.6 billion. In its most recent quarterly earnings report, Icon reported revenue of $118.3 million, up 143% year-over-year. The company has been growing rapidly, with revenue increasing by over 100% in each of the last five quarters.
Gross margin has also been increasing steadily, from 60.1% in the fourth quarter of 2020 to 68.1% in the third quarter of 2022. The company's net loss has been decreasing, from $24.4 million in the fourth quarter of 2020 to $10.7 million in the third quarter of 2022.
Earnings:
Icon has not yet achieved sustainable profitability, but it has been investing heavily in research and development to enhance its platform and expand its user base. The company has also been focused on improving its operational efficiency, with operating expenses decreasing as a percentage of revenue in recent quarters.
Management Team:
Icon's management team has a strong track record of building and growing successful companies. CEO Aaron Patzer previously founded and sold two companies, and CFO Alex Pezhouhan has extensive experience in finance and operations. The company's leadership team also includes experienced executives from companies such as Google, Twitter, and PayPal.
Financial Performance:
Icon has been investing heavily in its platform and user acquisition, which has led to rapid revenue growth. However, the company has yet to achieve sustainable profitability, and its net loss has been decreasing slowly. In its most recent quarterly earnings report, Icon reported a net loss of $10.7 million, down from $24.4 million in the fourth quarter of 2020.
Future Outlook:
Icon has a promising future outlook, with a growing user base and an expanding suite of financial products. The company has been investing in new features, such as a high-yield savings account and a credit card, to increase user engagement and retention. Icon has also been exploring new markets, such as India and Nigeria, to expand its global presence.
Overall, Icon (WALLET2) is a promising fintech company that has been growing rapidly. While it has yet to achieve sustainable profitability, the company has a solid track record of innovation and user adoption. With a strong management team and increasing revenue, Icon could be a promising investment opportunity for growth-focused investors. However, as with any investment, it's essential to do your research and assess the company's risk and potential reward.
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