Investview Inc. (OTC:INVU) Stock Gains Momentum: Here is Why

There are certain sectors that have garnered considerable attention from investors in recent times due to their potential for growth, and one such sector is the fintech sector. Investors are regularly on the lookout for listed companies in the sector, and one such company could be Investview Inc. (OTC:INVU).

The financial technology company offers a whole range of services, both traditional financial services and those related to cryptocurrencies. Yesterday, the company came into focus after it announced its financial results for the fiscal year that ended on December 31, 2023.

It could be a good idea to take a look at some of the major highlights. The gross revenues for the period came in at $72.9 million, which worked out to a year-on-year rise of 9.4% from the $66.6 million generated in the previous year. The net revenues went up by 9.8% to hit $67.9 million from $61.8 million in the previous fiscal year. The net income earned by Investview in the 12-month period stood at $4.6 million, which reflected a year-on-year rise of 153.5% from the figure of $8.6 million in the 2022 fiscal year. The net cash to the company through operating activities was $6.1 million in the 2023 fiscal year, and that reflected a 35.2% year-on-year drop.

Investview revealed that it had cash and cash equivalents of $20.9 million in its books at the end of December 31, 2023, and that reflected a rise of $0.6 million from the $20.3 million at the end of December 31, 2022.

The company managed to show an improvement even though it had paid down outstanding debts to the tune of $6.9 million during the course of 2023. Outstanding debts went down to $3.6 million, and that worked out to a decrease of as much as 65.9% from the outstanding debts at the end of the 2022 fiscal year.