OwlTing to Debut on Nasdaq with OWLS Ticker Amid Rising Revenue
The Taiwan-based stablecoin infrastructure firm reported $7.6 million in 2024 revenue, up 18% year-on-year, and plans to list on Nasdaq Global Market on October 16.
OwlTing, a Taiwan-based stablecoin infrastructure company, will list its A-class common shares on the Nasdaq Global Market under the ticker symbol OWLS starting October 16. The firm recorded $7.6 million in revenue for 2024, marking an 18% annual increase, while total payment volume surged 62% to $218 million. Its hospitality unit, OwlNest, now serves over 2,500 clients with a 108% net dollar retention rate. Although one-time IPO expenses affected net profit, OwlTing anticipates profitability improvement as its stablecoin infrastructure operations scale and profit margins expand.
- Stablecoin Infrastructure: A framework providing technical and financial systems that support the issuance, management, and transaction processing of stablecoins.
- Net Dollar Retention Rate: A revenue metric showing how much recurring revenue is retained from existing customers after accounting for expansions, downgrades, and churn.
- Nasdaq Global Market: A segment of the Nasdaq Stock Market that lists mid-cap companies meeting specific financial and liquidity requirements.