- Alchemy announces a record revenue for FY24, marking a 60% increase year-on-year
- Alchemy’s US business grew by more than 50% and the JAPAC business by 97% over the period
KILDARE, Ireland--BUSINESS WIRE--
Alchemy, the fastest-growing global circular technology company, has announced record revenues of $711 million for the financial year ending 31 March 2024. This marks a 60% increase from the previous year's $443 million, demonstrating the company's continued rapid growth and its success in expanding the circular tech economy.
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Gary Noone - Chief Operating Officer, James Murdock - Chief Marketing Officer, and Walter Vicente - Chief Executive Officer left to right. (Photo: Business Wire)
The financial performance and success over the last fiscal year has been driven by the growing demand for sustainable technology solutions. In FY24 alone, Alchemy traded over 2.4 million devices globally, up 700,000 from the previous year, avoiding 148 million kilograms of CO2 emissions. In total, the company has traded more than 7 million devices since its inception in 2017.
Walter Vicente, CEO of Alchemy, says:
“As we navigate the rapidly evolving landscape of the circular economy, we remain committed to innovation and sustainability. This year's milestones reflect our unwavering commitment to minimizing environmental impact while maximizing value for consumers and businesses alike.
“In FY24, our new operation center in Miami helped drive significant growth in the US, which continues to be our largest market. Meanwhile JAPAC saw a 97% increase in revenue year-on-year and is our fastest growing region.
“As we continue to expand our global footprint and invest in innovations like Callisto, our wholesale tech marketplace, we're not just growing as a business – we're reshaping the circular tech economy. Earlier this year, we became the first and only device refurbisher able to calculate and certify the CO2e savings of each device we sell, setting a new standard in the industry. We are dedicated to continuing to drive industry-wide change – creating innovative solutions, promoting global sustainability, and ultimately building and maintaining trust with our global partners in managing their circular business needs.”
The company's growth is reflected in its expanded operations and global workforce. In June 2023, Alchemy opened a new facility in Miramar, Florida, marking its third US site. Globally, Alchemy has a presence in 12 countries enabling it to operate across 60 markets.
Alchemy's global growth and impact have garnered recognition from several prestigious rankings. This year, the company was ranked as the number one Irish business on the Financial Times 1000 list of Europe's Fastest-Growing Companies, securing the 257th position overall. Deloitte also recognized Alchemy in its ranking of the fastest-growing technology companies in Europe, the Middle East, and Africa (EMEA) over the past four years within its listing of the Deloitte Technology Fast 500 EMEA. Additionally, Alchemy ranked as the 11th fastest-growing technology company in Ireland in Deloitte’s Technology Fast 50.
Looking ahead, Alchemy is focusing on the wider expansion and development of Callisto, an online trading platform for wholesale tech buyers & sellers. Callisto streamlines wholesale tech purchasing so buyers can access top global deals, while sellers can connect with buyers worldwide from a single online marketplace. Callisto stands apart by making trust the top priority with seamless management and secure transactions ensuring that trading becomes easy and reliable.
As Alchemy extends its global reach and introduces new solutions, it stays committed to its mission of making cutting edge technology accessible, by making it more affordable and reducing its impact on the planet.
About Alchemy
Alchemy is headquartered in Dublin, Ireland and is ranked as the 11th-fastest growing tech company in Ireland in Deloitte's Technology Fast 50. It has facilities for device warehousing, device triage and grading, reverse solutions and picking, packing, and shipping across the world – including the USA, UK, Australia, Dubai, Hong Kong, Mexico, South Korea, Taiwan, and Japan. Alchemy also processes and ships both B2B and D2C across Europe, from shipping locations in Ireland and France and multiple sales offices.
Alchemy's pioneering technology seamlessly integrates every stage of the circular tech market, from trade-in to remarketing to businesses and consumers. It recovers devices directly from consumers through its partnerships with manufacturers, mobile carriers, and retailers, manages their trade-in programs, and facilitates the transactions from end to end, creating a transparent chain of custody. Its proprietary technology empowers consumers and businesses across the world to recover value safely and securely from their used devices.
Alchemy also owns LoopMobile, a leading online retailer of used mobile phones, operating in major markets, including the United States, Europe, the United Kingdom, and Australia.
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