Newly acquired subsidiary achieves 38% revenue growth and returns to profitability in FY 2024
SEATTLE, Oct. 21, 2025 /PRNewswire/ -- Spectral Capital Corporation (OTCQB: FCCN) today announced the audited results of its newly acquired subsidiary, 42 Telecom Ltd., for the fiscal year ended December 31, 2024.
About 42 Telecom Ltd.
42 Telecom Ltd. ("42") is a global leader in SMS-based communication technologies, including secure messaging and two-factor authentication services used by major enterprises and telecommunications carriers around the world. 42 is the leading external provider of such services to Vietnam and also holds a significant market position across multiple international jurisdictions.
As a newly acquired subsidiary of Spectral, 42 plans to expand its service offerings by integrating patents and advanced technologies from Spectral's intellectual-property portfolio while also targeting the higher-margin U.S. SMS-based marketing and enterprise-engagement sector. This expansion strategy is expected to strengthen both companies' growth trajectories and accelerate Spectral's technology-driven communications platform initiative.
42 Telecom Ltd. - Financial Highlights (Full Year 2024, Audited):
- Total Revenue: US$ 26.1 million ( 38% from US$ 18.9 million in 2023)
- Gross Profit: US$ 3.29 million ( 86% year-over-year)
- Operating Income: US$ 0.78 million (vs. loss of US$ 0.85 million in 2023)
- Net Income: US$ 524,000 (reversing loss of US$ 690,000 in 2023)
- Comprehensive Income: US$ 441,000 (vs. loss of US$ 643,000 in 2023)
- Cash and Restricted Cash: US$ 311,000 (down from US$ 555,000 in 2023)
- Stockholders' Equity: US$ 1.30 million (up from US$ 864,000 in 2023)
These results reflect 42 Telecom's standalone audited financial performance and are presented prior to consolidation with Spectral Capital Corporation. Full audited financial statements of 42 Telecom are filed as exhibits to Spectral's Form 8K/A filed October 15, 2025.
Spectral Capital noted that the strong 2024 financial performance of 42 Telecom is expected to positively contribute to Spectral's pending NASDAQ uplist application, demonstrating both operational growth and a strengthened balance sheet at the consolidated level.
About Spectral Capital Corporation
Spectral Capital (OTCQB: FCCN) is an innovation-driven company focused on building, acquiring, and scaling products at the frontier of artificial intelligence. Spectral's strategy combines original invention, an active pending-patent pipeline, and disciplined productization to create durable value across enterprise and SMB markets. For more information visit Spectral Capital.
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and FCCN's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although FCCN believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of FCCN. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in FCCN's business; competitive factors in the market(s) in which FCCN operates; risks associated with operations outside the United States; and other factors listed from time to time in FCCN's filings with the Securities and Exchange Commission. FCCN expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in FCCN's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
SOURCE Spectral Capital Corporation
