Flow Capital, a provider of growth capital and alternative debt, saw its pre-tax losses deepen according to its latest annual results.
In 2024, Flow’s loan interest and royalty revenue increased to C$9.3m (£5m) from C$7.1m, with an 88 per cent increase in recurring free cash flow to $1.9m. Flow deployed a record $28.5m in new capital throughout 2024.
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But a sharp drop in income from changes in the values of financial assets brought total revenues down to C$3.7m, below total revenues of C$5.8m in 2023. An increase in financing expenses from C$2m to C$3m helped push Flow into a pre-tax loss of C$1.4m, compared to the previous year’s pre-tax loss of C$47,054.
In Flow’s fourth quarter, the provider recorded a 44 per cent increase in loan interest revenue to C$2.7m, with a 61 per cent rise in recurring free cash flow to C$545,591.
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“This was another strong quarter, capping off a record year for Flow Capital, said Alex Baluta, Flow Capital chief executive officer. “Q4 2024 represented the sixth consecutive quarter of sequential quarter-to-quarter Loan Interest Revenue growth.”
“More importantly, we are growing our revenue while consistently generating positive free cash flow,” he continued. “2024 represents the fifth straight year where we have generated positive recurring cash flow”.
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