Financial Results
October 21, 2025
Spectral Capital Reports $26.1 Million in 2024 Audited Revenue for 42 Telecom
42 Telecom reports $26.1M in audited 2024 revenue, up 38% year-over-year, while returning to profitability and strengthening Spectral’s operating portfolio.
Newly acquired subsidiary achieves 38% revenue growth and returns to profitability in FY 2024
Seattle, WA – October 21, 2025 – 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 8-K/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.
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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.
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