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Investor Relations Departmentir@mof-vfx.com GLOBAL MOFY AI LIMITEDCONSOLIDATED BALANCE SHEETS(Expressed in U.S. Dollars, except for the number of shares) As of September 30, 2024 2023 US$ US$ ASSETS Current assets Cash $8,068,560 $10,437,580 Restricted cash 3,000,000 — Short-term investments — 780,000 Accounts receivable, net 1,254,613 3,286,330 Advances to vendors 5,736,093 2,593,887 Due from related parties 19,665 — Loans receivable – current — 287,829 Prepaid expenses and other current assets, net 967,613 507,336 Total current assets $19,046,544 17,892,962 Non-current assets Long-term investments 284,998 — Property and equipment, net 13,420 34,431 Intangible assets, net 38,796,262 6,505,792 Operating lease right-of-use assets 660,946 954,771 Loans receivable – non-current — 447,505 Advances to vendors – non-current 261,956 1,020,874 Prepaid expenses and other non-current assets, net 127,732 262,986 Total non-current assets 40,145,314 9,226,359 Total assets $59,191,858 $27,119,321 LIABILITIES AND EQUITY Current liabilities Short-term bank loans $5,397,521 $2,442,609 Loans from third parties 23,512 22,615 Accounts payable 1,213,114 531,091 Advances from customers 3,837,621 345,838 Due to a related party 50,380 — Tax payable 2,035,653 1,555,059 Accrued expenses and other liabilities 553,696 555,440 Operating lease liabilities – current 270,183 293,040 Total current liabilities $13,381,680 5,745,692 Non-current liabilities Operating lease liabilities – non-current 308,575 556,674 Total non-current liabilities 308,575 556,674 Total liabilities $13,690,255 6,302,366 Equity: Class A ordinary shares ($0.00003 par value, 30,000,000,000 shares authorized, 1,410,001 and 1,728,410 shares issued and outstanding as of September 30, 2024 and 2023, respectively)* 42 52 Class B Ordinary Shares ($0.00003 par value, 4,000,000,000 shares authorized, 848,203 and 0 shares issued and outstanding as of September 30, 2024 and 2023, respectively) 26 - Additional paid-in capital 27,796,887 16,035,229 Statutory reserves 1,926,547 368,271 Accumulated earnings 15,737,191 5,158,115 Accumulated other comprehensive income (loss) 187,118 (604,182)Total Global Mofy AI Limited shareholders’ equity 45,647,811 20,957,485 Non-controlling interests (146,208) (140,530)Total equity 45,501,603 20,816,955 Total liabilities and equity $59,191,858 $27,119,321 * Retrospectively restated for effect of reverse stock split on November 26, 2024.
GLOBAL MOFY AI LIMITEDCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(Expressed in U.S. Dollars, except for the number of shares) For the years endedSeptember 30, 2024 2023 2022 US$ US$ US$ Revenue Revenue from third parties $41,360,953 $26,889,911 $14,540,300 Revenue from related parties — — 2,647,993 Revenue 41,360,953 26,889,911 17,188,293 Cost of revenue (20,556,763) (12,357,934) (13,072,732)Gross profit 20,804,190 14,531,977 4,115,561 Operating expenses: Selling expenses (1,107,215) (294,587) (153,822)General and administrative expenses (5,425,015) (3,046,037) (1,041,330)Research and development expenses (7,448,583) (3,546,155) (3,207,759)Total operating expenses (13,980,813) (6,886,779) (4,402,911) Income (loss) from operations 6,823,377 7,645,198 (287,350) Other (expenses) income: Interest income 208,647 41,230 42,948 Interest expenses (195,331) (126,206) (74,888)Issuance costs allocated to warrant liability (823,846) — — Change in fair value of warrant liability 6,827,034 — — Other income, net 144,819 89,124 54,049 Total other income, net 6,161,323 4,148 22,109 Income (loss) before income taxes 12,984,700 7,649,346 (265,241)Income tax expense (847,448) (1,098,087) — Net income (loss) 12,137,252 6,551,259 (265,241)Net (loss) income attributable to non-controlling interest (100) (579) 1,981 Net income (loss) attributable to Global Mofy AI Limited $12,137,352 $6,551,838 $(267,222) Comprehensive income (loss) Net income (loss) $12,137,252 $6,551,259 $(265,241)Foreign currency translation Gain (loss) 785,722 (407,248) (198,124)Total comprehensive income (loss) 12,922,974 6,144,011 (463,365)Comprehensive income attributable to non-controlling interests (5,678) 3,031 2,304 Comprehensive income (loss) attributable to Global Mofy AI Limited $12,928,652 $6,140,980 $(465,669) Earnings (loss) per Class A ordinary share – Basic and diluted* $6.37 $3.93 $(0.17) Weighted average number of Class A ordinary shares outstanding – Basic and diluted* 1,798,850 1,668,083 1,562,766 Earnings per Class B ordinary share – Basic and diluted* $6.37 $- $- Weighted average Class B ordinary shares outstanding – Basic and diluted* 106,605 - - *Retrospectively restated for effect of reverse stock split on November 26, 2024.
- Total Revenue of $41.4 million, up 53.8% from the previous year, reflecting record high annual revenue in the Company’s history.- Gross Profit of $20.8 million and net income of $12.1 million, both reaching historical high, with a robust 50.3% gross margin.BEIJING, Jan.07, 2025 (GLOBE NEWSWIRE) -- Global Mofy AI Limited (the "Company” or "Global Mofy”) (Nasdaq: GMM), a generative AI-driven technology solutions provider engaged in virtual content production and the development of 3D digital assets for use in the broader digital content industry, today reported financial results for the fiscal year ended September 30, 2024, with revenue, gross profit, and net income achieving significant year-over-year growth.
