Netcapital (NCPL) Company Report

Netcapital Inc. acquired the assets of Iverson Design, LLC on January 2, 2026, as announced on January 6, 2026.
The acquisition includes Iverson Design's proprietary suite of AI-driven design, animation, and real-time rendering technologies.
As consideration for the purchased assets, Netcapital issued 980,000 shares of its common stock.
Michael Iverson, the founder of Iverson Design, joined Netcapital as Chief Design Director and Head of AI Experience.
This acquisition is intended to accelerate Netcapital's transformation into a tokenization and digital asset platform, aiming to deliver an approachable and visually stunning tokenization experience.

Jan 8, 2026, 9:05 PM

8-K

Netcapital acquires Iverson Design assets

NCPL

M&A

New Projects/Investments

Management Change

Netcapital Inc. acquired the assets of Iverson Design, LLC, including its full intellectual property portfolio and proprietary suite of AI-driven design, animation, and real-time rendering technologies.
As consideration for the purchased assets, Netcapital issued 980,000 shares of its common stock.
Michael Iverson, founder of Iverson Design, joined Netcapital as Chief Design Director and Head of AI Experience.
This acquisition is intended to accelerate Netcapital's transformation into a tokenization and digital asset platform, aiming to deliver an approachable and visually stunning tokenization experience.

Jan 6, 2026, 9:22 PM

Press Release

Netcapital Inc. Reports Q2 FY26 Results Amidst Strategic Pivot to Tokenized Assets

NCPL

Earnings

New Projects/Investments

M&A

Netcapital Inc. (NCPL) reported revenues of $51,000 for the second quarter of fiscal year 2026 (three months ended October 31, 2025), a decrease from $170,000 in the prior year, primarily due to lower portal fees.
The company recorded an operating loss of $2.1 million and a loss per share of $0.44 for Q2 FY26, with cash and cash equivalents of $1.7 million as of October 31, 2025.
Under new CEO Rich Wheeler, Netcapital is undergoing a strategic pivot to re-center around its core fintech platform and recently licensed broker-dealer, moving away from a less scalable "consulting for equity model".
The new strategy focuses on digital assets and tokenization, with management believing the company is well-positioned for success in this emerging market.
To support this strategic shift, Netcapital acquired Rivets for its technology and expertise in producing tokenized assets, an acquisition management considers critical despite questions regarding its valuation.

Dec 16, 2025, 3:00 PM

Transcript

Netcapital Inc. Reports Q2 FY2026 Results and Outlines Strategic Pivot

NCPL

Earnings

New Projects/Investments

M&A

Netcapital Inc. reported revenues of approximately $51,000 for the second quarter of fiscal year 2026 (ended October 31, 2025), a decrease from approximately $170,000 in the prior year, primarily due to lower portal fees.
For Q2 FY2026, the company recorded an operating loss of approximately $2.1 million and a loss per share of $0.44, with cash and cash equivalents of $1.7 million as of October 31, 2025.
CEO Rich Wheeless, in his first earnings call, outlined a strategic pivot to focus on the core fintech platform, leverage its recently licensed broker-dealer for larger Reg A capital raises, and expand into digital assets and tokenization.
The recent acquisition of Rivetz was highlighted as critical to this strategy, providing technology and expertise for producing tokenized assets.

Dec 16, 2025, 3:00 PM

Transcript

Netcapital Inc. Reports Q2 2026 Financial Results and Strategic Shift

NCPL

Earnings

M&A

New Projects/Investments

Netcapital Inc. reported revenues of approximately $51,000 for the three months ended October 31, 2025, a significant decrease from $170,000 in the prior year period, alongside an operating loss of approximately $2.1 million and a loss per share of $0.44.
The company is undergoing a strategic transition, moving away from a "consulting for equity" model to focus on its core fintech platform, broker-dealer, and emerging opportunities in digital assets and tokenization.
As part of this new strategy, Netcapital acquired Rivets for its expertise and technology stack to produce tokenized assets, a transaction that involved giving away roughly 20% of the outstanding share count.
The company aims to fully leverage its recently licensed broker-dealer to unlock larger Reg A capital raises and a broader product set, with potential revenues from the broker-dealer anticipated in the next quarter.
As of October 31, 2025, Netcapital had cash and cash equivalents of approximately $1.7 million.

Dec 16, 2025, 3:00 PM

Transcript

Netcapital Inc. Reports Q2 Fiscal 2026 Financial Results and Strategic Expansion into Blockchain Financing

NCPL

Earnings

New Projects/Investments

Demand Weakening

Netcapital Inc. reported total revenues of $51,076 for the second quarter of fiscal 2026, a decrease from $170,528 in the prior-year quarter, primarily reflecting lower funding portal activity.
The company's net loss per basic and diluted share improved to ($0.44) for Q2 fiscal 2026, compared to ($2.34) in the year-ago period.
Cash and cash equivalents significantly increased to $1,684,188 at October 31, 2025, up from $289,428 at April 30, 2025.
Netcapital is expanding its offerings to include cryptocurrency and blockchain financing and completed the strategic asset acquisition of Rivetz on December 3, 2025, to participate in the growth of compliant blockchain-based digital assets.

Dec 15, 2025, 10:21 PM

8-K

Netcapital Reports Second Quarter Fiscal 2026 Financial Results and Corporate Update

NCPL

Earnings

New Projects/Investments

CEO Change

Netcapital reported total revenues of $51,076 for the second quarter of fiscal 2026, a decrease from $170,528 in the prior-year quarter, primarily reflecting lower funding portal activity.
The company's net loss per basic and diluted share was ($0.44) for Q2 FY2026, an improvement from ($2.34) in the year-ago period, and cash and cash equivalents increased to $1,684,188 as of October 31, 2025, up from $289,428 at April 30, 2025.
Netcapital is expanding its offerings to include cryptocurrency and blockchain financing for private companies and completed the strategic asset acquisition of Rivetz to support compliant blockchain-based digital assets.
Rich Wheeless was appointed as the new Chief Executive Officer and is scheduled to host a business update conference call on December 16, 2025.

Dec 15, 2025, 9:55 PM

Press Release

Netcapital Appoints Rich Wheeless as CEO

NCPL

CEO Change

New Projects/Investments

Netcapital Inc. (NCPL) has appointed Rich Wheeless as its new Chief Executive Officer.
Martin Kay, the former CEO, will transition to an advisory role for the company.
Wheeless brings over 20 years of financial leadership and corporate management experience, including prior CEO and CFO roles at publicly traded companies.
Under the new leadership, Netcapital plans to expand beyond traditional securities into crypto and blockchain-enabled investments, which is anticipated to create significant revenue opportunities.

Dec 8, 2025, 10:00 PM

Press Release

NetClass Announces Closing of PIPE Financing

NCPL

New Projects/Investments

NETCLASS Technology INC successfully closed its previously announced PIPE financing, generating approximately $2.4 million in total gross proceeds.
The company sold and issued 1,500,000 Class A ordinary shares at a price of $1.60 per share in the financing, which was led by an institutional investor.
NetClass intends to use the net proceeds to fund its strategic plan, including expanding AI application scenarios, advancing blockchain technology, and strengthening the adoption of EDC token in Singapore.

Nov 14, 2025, 1:30 PM

Press Release

Netcapital Reports Q1 2026 Financial Results

NCPL

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Netcapital reported revenues of $190,058 for the three months ended July 31, 2025 (Q1 2026), marking an increase of approximately 34% compared to the same period in the prior fiscal year.
The company's operating loss for Q1 2026 was approximately $3.3 million, and it reported a loss per share of $1.27.
Revenue growth was primarily attributed to an increase in portal fees and services provided in exchange for equity securities, with one issuer accounting for 73% of revenues in Q1 2026.
Netcapital established a crypto advisory board and a game advisory board to integrate blockchain and digital assets and to deepen engagement with the online game community, respectively.