Netcapital Inc. provided earnings guidance for the fiscal year 2022. For the year, the company estimated net sales will range from $5.3 million to $5.5 million, an increase of approximately $700,000, or 14.9%, using the mid-point of the estimated net sales range when compared with net sales of $4.7 million for the fiscal year ended April 30, 2021, or fiscal year 2021. The increase in sales was driven primarily by growth in dollars invested through funding portal and an increase in consulting fees.

Estimated net income will range from $3.3 million to $3.5 million which includes loan forgiveness of approximately $1.9 million, an increase of 126.7%, using the mid-point of the estimated range when compared with net income of $1.5 million for fiscal year 2021.