FDCTech, the Delaware holding company that operates a multi-jurisdiction regulated brokerage and financial technology platform under the ticker FDCT, has crossed a rare threshold for a company of its size: it is now profitable, audited, and on the verge of a Nasdaq uplisting. Consolidated revenue of $34.96 million in fiscal 2025 grew 29.8% year over year, and the first half of fiscal 2026 added a further $32.69 million, up 186.8% over the same period last year, driven almost entirely by the Margin Brokerage segment after the November 2025 acquisition of Alchemy International Ltd. The company eliminated its accumulated deficit, lifted total stockholders' equity to $39.3 million as of June 30, 2026, and resolved the going-concern qualification that had appeared in prior filings.
The strongest evidence that the strategy is working is the Brokerage segment itself. Q2 2026 Brokerage revenue of $14.26 million was 5.5 times the year-ago quarter, gross margin on that segment compressed only modestly, and net income attributable to shareholders reached $7.71 million in the quarter against a small loss a year earlier. The most credible counterargument is that the earnings surge is heavily dependent on a single acquisition from a controlling shareholder, Gope S. Kundnani, who both controls the company and sat on the other side of the deal. Reverse-split, restatement history, related-party flows approaching 40% of total assets, and a delisted-into-uplisting transition are all real risks. At a market capitalization of approximately $160 million and a trailing twelve-month P/E in the very low double digits on yfinance's reported earnings series, the stock is priced as if the operating story is real but unproven.