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Metalpha Reports Fiscal Year 2023 Financial Results

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HONG KONG, Feb. 15, 2024 /PRNewswire/ — Metalpha Technology Holding Limited (Nasdaq: MATH) (the “Company” or “Metalpha”), a global digital asset-based wealth management company, announced financial results for the fiscal year ended March 31, 2023 (the “FY 2023”). The Company reported the notional amount of derivative products issued of $382 million under its wealth management business arm, which generated fiscal-year income of $5.7 millionThe adjusted loss of the Company in FY 2023 was about $0.7 million.

The Company recorded strong year-over-year growth driven by its wealth management business, a key pillar of its operations and revenue model. The Company designs and issues derivative products for institutions and professional investors and recognizes the fair value change of (i) trading of digital assets and derivative contracts and (ii) investment in trusts as income from our wealth management business.

Metalpha prides itself on being one of the world’s largest digital asset-based derivative trading firms. The notional amount of derivative products issued in FY 2023 was $382 million compared to only $49 million in the fiscal year ended March 31, 2022 (the “FY 2022”). The income from the wealth management business jumped from $0.1 million in FY 2022 to $5.7 million in FY 2023.

Metalpha aims to provide qualified investors with high-quality product design and trading capabilities and is committed to delivering structured derivative products to cryptocurrency market participants.

“We are pleased to see strong demand for customized products and earn high customer satisfaction. The fast growth of our wealth management business indicates the market’s confidence in our business approach. We strive to design products and services with compliance at the core. In the new year, we are confident about the improving market conditions which could lead to stronger demand for our derivative product subscriptions.

At the company level, we aim to maintain a high growth rate and significantly lower expenses as our business scale expands. We will also continue to innovate and diversify our business offerings in a bid to expand our market share in Asia,” said Adrian Wang, President of Metalpha.

FINANCIAL HIGHLIGHTS

Notional Amount of Derivative Products Issued

FY 2022

FY 2023

Notional Amount of Derivative Product Issued

49 million

382 million

Income from Wealth Management Business 

FY 2022

FY 2023

Income from Wealth Management Business

0.1 million

5.7 million

Adjusted Loss to the Company

FY 2022

FY 2023

Loss of the Year

(14,428,033)

(20,167,351)

Add: Equity-settled share-based payments under share award scheme

1,468,800

1,045,315

Add: Share purchase warrants expenses

6,063,086

10,176,995

Add: Total loss from discontinued operation

3,193,385

8,248,013

Adjusted Loss

(3,702,762)

(697,028)

The Company filed its annual report on Form 20-F for the FY 2023 (the “2023 Annual Report”) with the U.S. Securities and Exchange Commission on February 12, 2024. The 2023 Annual Report included audited financial statements for the FY 2023. The 2023 Annual Report is available online at www.sec.gov.

About Metalpha Technology Holding Limited

Founded in 2015, Metalpha Technology Holding Limited (NASDAQ: MATH) went public on October 20, 2017. The listed Company is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause Metalpha’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

Non-IFRS Financial Measure

The Company uses adjusted loss for the period, which is a non-IFRS financial measure, in evaluating its operating results and for financial and operational decision-making purposes. Metalpha believes that adjusted loss helps identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its loss for the period. Metalpha believes that adjusted loss for the period provides useful information about its results of operations, enhances the overall understanding of its past performance and future prospects and allows for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

Adjusted loss for the period should not be considered in isolation or construed as an alternative to loss for the period or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review adjusted loss for the period and the reconciliation to its most directly comparable IFRS measure. Adjusted loss for the period presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. Metalpha encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.

Adjusted loss for the period represents profit for the period excluding (i) equity-settled share-based payments under the Company’s share award scheme, (ii) share purchase warrants expenses (i.e. expenses in relation to the issuance of warrants to certain consultants, employees and business partners); and (iii) loss from discontinued operation.

The table captioned “Reconciliations of Non-IFRS Measure to the Nearest Comparable IFRS Measure” included at the end of this announcement contains a full reconciliation of adjusted loss for the period to loss for the period.

Media Contact

Yiwei Wang
info@metalpha.finance

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SOURCE Metalpha Technology Holding Limited

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ACEC California Awards More Than $100,000 in Scholarships to Engineering and Land Surveying Students

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SACRAMENTO, Calif., May 4, 2026 /PRNewswire/ — The American Council of Engineering Companies of California (ACEC California) has announced the recipients of its 2026 Scholarship Program, awarding a total of $102,500 to 14 students, including six graduate students and eight undergraduates, pursuing degrees in engineering and land surveying at colleges and universities throughout California.

Administered by the ACEC California Scholarship Foundation, the annual program supports accomplished undergraduate and graduate students preparing for careers in engineering and land surveying. In addition to scholarships awarded by ACEC California, students may also receive accompanying funds through the ACEC national organization and local ACEC California chapters.

“I commend the American Council of Engineering Companies of California for its investment in students that helps strengthen California’s infrastructure and engineering workforce,” said Senator Dave Cortese (D-San Jose). “These scholarships expand access to the education and training needed for students to pursue meaningful careers in engineering and land surveying related fields. California’s future depends on a strong pipeline of skilled professionals, and programs like this ensure our communities will benefit from their expertise for decades to come. I commend San Jose State University student, and Senate District 15 resident, Thao Huynh, along with all recipients of this prestigious scholarship program.”

The 2026 scholarship recipients reflect a strong combination of academic achievement and real‑world experience, pairing rigorous coursework with internships, professional employment, applied research and leadership roles in student and industry organizations. The group also represents the diverse pathways into today’s engineering and land surveying professions, including first‑generation college students, veterans, and professionals returning to school to advance their careers.

“ACEC California is honored to recognize these exceptional students who represent the future of our industry,” said Tyler Munzing, executive director of ACEC California. “As our state continues to prioritize the modernization of our critical infrastructure, investing in the next generation of engineers and land surveyors has never been more vital. We are proud to support these dedicated individuals as they prepare to lead California toward a more innovative and efficient future.”

More than 150 applications were reviewed by the ACEC California Scholarship Foundation’s volunteer Board of Trustees, chaired by Chris Diaz of Diaz•Yourman & Associates. Trustees include Donald Blackburn of Blackburn Consulting; Jeff Gavazza of KPFF Consulting Engineers; Michael Jaeger of Tanner Pacific; Henry Liang of MKN, an Ardurra Company; Jane Rozga of GHD; and Aundrea Tirapelle of Psomas.

Scholarship funds will be distributed to recipients at the beginning of the fall 2026 semester.

2026-27 Scholarship Foundation Award Recipients

Todd Allen-Gifford, Stanford University, pursuing a master’s in structural engineering and construction engineering.Owen Daulton, Loyola Marymount University, pursuing a master’s in mechanical engineering.Thao Huynh, San Jose State University, pursuing a bachelor’s in software engineering.Caden Kakoschke, California State University, Long Beach, pursuing a bachelor’s in mechanical engineering and naval architecture and marine engineering.Gaurav Kumar, University of California, Los Angeles, pursuing a bachelor’s in computer engineering.Grace Murphy, California Polytechnic State University, San Luis Obispo, pursuing a bachelor’s in mechanical engineering.Carlos Navea, San Diego State University, pursuing a master’s in civil engineering and structural engineering.Ryan Nguyen, California Polytechnic State University, Pomona, pursuing a master’s in civil engineering.Jacey Niiya, Stanford University, pursuing a master’s in structural engineering.Peter Otoshi, California Polytechnic State University, Pomona, pursuing a bachelor’s in civil engineering.Emily Petersen, California State University, Fresno, pursuing a bachelor’s in surveying and geomatics engineering technology.Paisley Tabor, Stanford University, pursuing a bachelor’s in mechanical engineering.Victor Vega, University of the Pacific, pursuing a bachelor’s in civil engineering and structural engineering.Zenia Zipp, California State University, Fresno, pursuing a master’s in civil engineering and surveying and geomatics engineering.

Learn more about the ACEC California Scholarship Foundation program and the awarded students at www.acec-ca.org/scholarship.

ACEC California represents over 1,000 engineering and land surveying firm offices and nearly 25,000 professionals who are involved in all aspects of the design, construction, and repair of California’s residential, commercial, industrial, and public works infrastructure.

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SOURCE American Council of Engineering Companies, California

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HDT Conducts Hunter WOLF Training with 10th Mountain Division

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Second training event in one month highlights continued Army engagement, evaluation

FREDERICKSBURG, Va., May 4, 2026 /PRNewswire/ — HDT Robotics is conducting a new round of training and evaluation activities with Hunter WOLF unmanned ground vehicles (UGVs) at Fort Polk, Louisiana, with soldiers from the U.S. Army’s 10th Mountain Division.

The Hunter WOLF is a robotic multi-mission unmanned ground vehicle designed to reduce workload, extend operational duration, and keep soldiers in the field longer, with less fatigue and at safer distances. Built specifically for military operations, it delivers mobility, payload, and power in a compact system, engineered to perform in demanding environments where commercial vehicles fail.  

“The Hunter WOLF is a proven platform that’s ready to support operations today. It’s not a concept still in development like other options,” said Tom Van Doren, President, Robotics Sector at HDT Robotics. “Training directly with units like the 10th Mountain Division ensures the system continues to meet operational requirements and provides a dependable solution the military can confidently deploy.”

The training event will provide hands-on experience for soldiers in one of the Army’s elite light infantry units, known for rapid deployment and operations in complex, extreme environments, including mountainous and cold-weather conditions. During the event, soldiers will operate and evaluate the Hunter WOLF in real-world scenarios, gaining experience in system operation, mission integration, and sustainment across a range of mission tasks.

“Training events like this show how adaptable the Hunter WOLF’s modular design is across different mission requirements,” said John Conway, VP of Business Development, Robotics at HDT Robotics. “Soldiers are able to configure it quickly and apply it to operational tasks without adding complexity.”

During training, soldiers will operate Hunter WOLF vehicles configured for communications, sustainment, support, and employment of equipment normally too heavy for dismounted units to transport, such as loitering munitions. These configurations include:

Two Vehicle-mounted Tactical Radios (AN/VRC-158)Five Universal Battery Chargers (UBC)60-gallon Water Purification SystemsCasualty Evacuation (CASEVAC)15kW Mobile Power Export (120/240VAC inverter offload)Extended Cargo Rails for Equipment Transport

The training marks the second Hunter WOLF event conducted with the Army in the past month, reinforcing HDT’s commitment to delivering proven, field-ready robotic platforms that enhance operations while prioritizing soldier safety.

About HDT Robotics: HDT develops rugged, modular robotic systems to perform tasks in hazardous and demanding environments. Building on a legacy of advanced government and industrial robotics development, the company engineers precision manipulators and mobile platforms that reduce personnel risk while enabling critical operations in expeditionary, contaminated, or unsafe environments. For more information, visit HDTHunterWOLF.com.

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SOURCE HDT Robotics

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Roomba Pioneer Colin Angle Unveils New Venture, Familiar Machines & Magic, Introducing a New Platform for Consumer Physical AI

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After building iRobot into a multi-billion-dollar business and architecting the global consumer robotics industry, Angle launches a new company to build emotionally intelligent robots designed for trust, interaction, and long-term connection.

BOSTON, May 4, 2026 /PRNewswire/ — More than two decades after introducing the Roomba and helping define consumer robotics, Colin Angle is returning with a more ambitious vision: Artificial Life. On stage today at The Wall Street Journal’s Future of Everything conference, Angle unveiled Familiar Machines & Magic, bringing the company out of stealth and introducing Familiars – physically embodied AI systems designed to perceive, adapt, and interact with people in ways that feel natural and consistent.

“The next era of robotics is not just about dexterity or humanoid form – it’s about machines that can build and sustain human connection,” said Colin Angle, cofounder and CEO of Familiar Machines & Magic. “Today, we’re emerging from stealth to share our vision for systems that move beyond task execution and become a natural part of daily life.”

FM&M uses the term “Familiars” to describe emotionally intelligent, physically embodied AI systems that perceive their environment, develop a distinct personality, and respond in ways that learn and evolve through life with the people around them.

Physical AI’s Next Frontier: From Capability to Human Connection
The global race to build Physical AI is on. From humanoid robots promising factory labor to autonomous systems reshaping logistics, tens of billions of dollars are flowing into machines designed to move, lift, sort, and transport. But this is only half the opportunity – the back-end, industrial physical AI opportunity. The other half is consumer-facing, for all of the use cases where robots will interact with humans, and it requires a fundamentally different approach.

Consumer Physical AI demands human connection – the ability to not just perform physical tasks, but to understand, communicate, and respond in ways that feel intuitive and supportive. This opportunity extends across daily life – anywhere people and machines intersect – not just within the home.

Consumer Physical AI outperforms screens in these types of emotional work because people respond more strongly to physical presence. While chatbots are widely used for emotional support, they are often less effective and beneficial for their users.

FM&M is focused on developing Consumer Physical AI systems that deliver this kind of interaction at scale by building Familiars.

The company’s leadership team has already brought consumer robotics to global scale. As leaders behind the Roomba platform at iRobot, they deployed more than fifty million robots into homes worldwide, turning a once-experimental category into a household technology. FM&M also brings together talent from Disney Research, MIT, Amazon, Boston Dynamics, Bose, and Sonos, applying deep experience in robotics, AI, and human-machine interaction to this next frontier.

Bringing Familiars to Life: Meet the First Familiar
During a live conversation with Wall Street Journal Technology columnist Christopher Mims at Future of Everything, Angle introduced the first Familiar – the inaugural system powered by FM&M’s Consumer Physical AI platform.

“iRobot proved that robots could deliver value at scale,” Angle said. “But they were still task machines. My goal has always been to create systems that understand context, remember interactions, and behave with consistency over time. That’s what we’re doing at Familiar Machines & Magic.”

A Familiar is purpose-built for social interaction rather than industrial performance. Its hardware and AI architecture are optimized for expressive, whole-body movement that communicates attention, awareness, and intent without relying on a screen.

The first Familiar is a quadruped, specifically designed for human-robot interaction, with 23 degrees of freedom enabling both lifelike movement and expressive behaviors. The Familiar is covered with a custom touch-sensitive coat, a vision system, and a microphone array and audio system, to support rich interactions. Its onboard edge AI stack is powered by a custom small multimodal model optimized for social reasoning, combining vision, audio, language, and memory to create socially responsive behaviors in real time.

Unlike humanoid robots designed to replicate human form for industrial uses, the Familiar is intentionally designed to be approachable and expressive, with a form factor optimized for interaction in everyday environments. It integrates context, memory, and adaptive behavior to create a consistent presence over time. Familiars are optimized for interaction, for presence, and for everyday use.

Today’s reveal marks FM&M’s emergence from stealth, not a commercial product launch. Specific applications, form factors, and timelines will be shared in future updates.

The Path Forward: The First to Scale Physical AI
The Consumer Physical AI market will not be won by the most impressive demo – but by the system people choose to live with. Familiar Machines & Magic is building a Physical AI platform focused on real-world deployment, measurable value, and responsible scaling.

Unlike cloud-dependent AI systems that rely on continuous data streaming, FM&M’s architecture prioritizes on-device, edge AI to reduce latency and strengthen privacy. The company has also established clear data governance guardrails as it develops systems designed for daily life.

By focusing on systems that can scale broadly, FM&M is building a platform that improves through real-world use rather than speculative demonstrations.

Follow the Journey
Familiar Machines & Magic will share updates, research, and progress as it develops its Familiars platform; this is just the beginning. If you’re curious what life with a Familiar could look like, sign up at familiarmachines.com or follow FM&M on LinkedIn and X.

About Familiar Machines & Magic
Familiar Machines & Magic is pioneering Consumer Physical AI, beginning with Familiars – physically embodied AI systems designed to form long-term, emotionally intelligent relationships with people. The company’s mission is to create artificial life to build a more caring world.

Founded by Colin Angle, cofounder and former CEO of iRobot, FM&M builds on more than three decades of consumer robotics experience. Angle is joined by cofounders Ira Renfrew, Chief People and Product Officer (C2PO), and Dr. Chris Jones, Chief Research and Development Officer (CRDO) – veteran robotics and AI leaders with experience spanning iRobot, Amazon, and other global consumer technology platforms.

Collectively, the founding team has deployed over 50 million consumer robots worldwide and led advances in navigation, machine learning, and human-robot interaction. The broader team brings additional expertise from institutions including Disney Research, MIT, Boston Dynamics, and USC.

With offices in Boston, LA, and Hong Kong, Familiar Machines & Magic is building a long-term platform for Artificial Life in partnership with leading researchers, engineers, and strategic collaborators.

For more information, visit: familiarmachines.com.

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SOURCE Familiar Machines & Magic

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