American Marconi Wireless News - ONAR Highlights FY24 Success in Highly Anticipated Shareholder Letter from CEO Claude Zdanow

In the letter, Zdanow highlights financial performance, new strategic partnerships, and expansion into new markets. He also addresses the launch of the Company's internal innovation hub, ONAR Labs, which is developing and testing cutting-edge solutions in AI, machine learning, and advanced analytics.

"Looking forward, we are optimistic about ONAR's prospects and the significant opportunities ahead," writes Zdanow. "We will continue to pursue strategic acquisitions, innovative partnerships, and technological advancements, all designed to drive long-term sustainable growth and maximize shareholder value."

Key highlights from the letter include:

• Financial Performance: Achieved a 57% increase in consolidated revenues for the first nine months compared to the same period last year, and a reduction of approximately $250,000 in our Cost of Revenues year-over-year.

• Strategic Partnerships: Strengthened our competitive advantage through a notable alliance with iQSTEL, Inc. (OTCQX: IQST), aimed at mutual market expansion and technology collaboration.

• Operational Excellence: Storia secured significant client expansions, including a substantial six-figure increase in annual marketing spend from a major industrial client, while Of Kos achieved a remarkable Net Operating Income to Sales ratio of approximately 44%.

• Enhanced Staffing: Expanded ONAR's workforce substantially, with 60% of our employees now operating across five continents, enhancing ONAR's ability to serve global clients with local market expertise.

• Technological Innovation: Launched ONAR Labs, our dedicated innovation hub focused on pioneering next-generation marketing technologies to support our subsidiaries and clients with transformative tools and technologies.

• Future Developments: Plans to complete a strategic acquisition in H1 2025, subject to due diligence and regulatory approval, and began the establishment of an independent Board of Directors in the first quarter of 2025.

The full shareholder letter is available on the company's website at https://www.onar.com/news/fy24-annual-shareholder-letter

About ONAR

ONAR (OTCQB: ONAR) is a leading marketing technology company and marketing agency network, now publicly traded as Onar Holding Corporation. ONAR's mission is to provide unparalleled marketing services that drive revenue growth through an integrated, AI-driven approach. Committed to honor, candor, and best-in-class results, ONAR aims to lead the industry by example, ensuring every client relationship is deeply rooted in trust and excellence.

ONAR has nearly 50 employees across five continents, and it is aggressively expanding its team to support the company's growth and acquisition pipeline. Its agencies service over 45 clients across various industries:

• Performance Marketing & SEO: Our high-touch performance marketing agency, Storia, specializes in brand growth, data-driven excellence, and paid advertising.

• Full-Service Healthcare Marketing: Partnering with healthcare professionals, Of Kos provides the best possible patient experience and strives to revolutionize the standard of care.

• Experiential Marketing & Events: CHALK is an experiential marketing powerhouse of event architects who turn bold ideas into unforgettable reality, designing events that dare to defy the ordinary.

• Pioneering Technology Incubator: ONAR Labs is a team of data scientists, engineers, and industry experts who are identifying, developing, and commercializing innovative marketing technology solutions born from servicing our agency clients, battle-tested by our network to ensure real-world applicability and impact.

ONAR's network of agencies focuses on servicing companies ranging from $50M to $1B+ in revenue, and ONAR is actively searching for agencies to acquire and become part of the network.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on ONAR's current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy, and financial needs. These statements are not historical facts and are inherently uncertain and outside of ONAR's control. Forward-looking statements include, among other things, statements regarding ONAR's expectations regarding its ability to achieve its financial and strategic goals, including surpassing $100 million in revenue and securing a NASDAQ listing; its ability to expand its client base and market share; and its ability to develop and launch new products and services. Actual results may differ materially from ONAR's expectations and projections due to various risks and uncertainties, including market conditions, competition, the ability to protect intellectual property, the ability to manage growth, changes in laws and regulations, and other factors described in ONAR's filings with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this press release, and ONAR undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Media Contact:

Sara Scully
Marketing Manager
ONAR
213-437-3081
[email protected]

SOURCE: Onar Holding Corporation

View the original press release on ACCESS Newswire

P.Mathewson--AMWN