Tenet Reports Year-End 2024 Financial Results

Executive Summary

• Tenet Fintech Group Inc. reported FY 2024 revenue of C$2.84 M, a steep decline from C$42.08 M in 2023, and a net loss of C$59.26 M, driven largely by a C$32.39 M credit‑loss provision.
• Cash flow from operations was negative C$6.92 M for the year, widening versus the prior year’s –C$3.91 M.
• The company outlined 2025 operational objectives, including launching its Cubeler® platform in the U.S., commercializing data‑derived products, and targeting a $100 M+ annual revenue run‑rate after reactivating Chinese platforms.

Key Details

• Revenue: C$2.84 million for FY 2024 (down from C$42.08 million in 2023).
• Net Loss: C$59.26 million for FY 2024.
• Credit‑Loss Provision: C$32.39 million included in the net loss.
• Operating Cash Flow: –C$6.92 million (vs. –C$3.91 million in 2023).
• Q4 2024 Highlights:
• Enhanced Cubeler® Financing module; released Networking and Advertising modules post‑beta.
• Strategic partnership with Dext Software Ltd. for data acquisition and bookkeeping automation.
• Appointed Liang Qiu as Head of Global Development, Cubeler® platform.
• Completed non‑brokered private placement financing raising approximately C$2.155 million in gross proceeds.
• 2025 Operational Outlook:
• Further enhancements to Cubeler® Networking module for cross‑border communication.
• Launch of Cubeler® Business Development Platform in the United States.
• Commercialization of first data‑derived products in North America.
• Target annual revenue run‑rate of $100 M+ via reactivation of Chinese platforms and North American product contributions.
• Shareholder Q&A: CEO Johnson Joseph will field questions on FY 2024 results and 2025 outlook; submissions due by 9:00 pm EDT Oct 7, 2025; interview to be posted by 5:00 pm EDT Oct 10, 2025.

Notable Quotes

• “We believe we are on track to demonstrate the long‑term benefits of our transition by the end of 2025 through commercialization of our first data‑derived product offering and reactivation of platforms in China,” – Johnson Joseph, CEO.