Omatek Ventures Plc, a Nigerian technology firm, has reported a net loss of N48.32 million for the full year of 2025, an improvement from the N62.14 million loss posted in 2024, as it continues a multi-year pattern of operating deficits.
In 2022 and 2021, the company recorded significantly larger losses of N1.93 billion and N1.75 billion, respectively.
The company recorded N2.2 million in revenue for the full year. A further look at the company’s
financial position shows total group assets of N2.43 billion as against liabilities of N5.1 billion, resulting in negative equity of about N2.67 billion, which implies that the business owes significantly more than it owns.
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At the company level, equity is technically positive at N703 million, buoyed by share premium and revaluation reserves, but retained earnings remain deeply negative at N5.76 billion.
Plant and machinery, computer equipment, and vehicles are collectively valued at just N8.41 million, with most fully depreciated and no new capital expenditure recorded in 2025. Meanwhile, the largest non-current asset on the books, a leasehold investment property valued at N2.2 billion, accounts for more than 90 percent of total non-current assets.
A positive development noted in the report is the settlement of long-term loans previously held with the Bank of Industry and First Bank, reducing some financial burden. However, the company still carries over N1 billion in short-term borrowings and N3.47 billion in trade payables.
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The board acknowledged the challenging performance and said management is intensifying efforts to attract fresh capital from national and international investors to support a turnaround.
Control of the company remains concentrated, with the estate of the late founder, Florence Seriki, owning a majority stake alongside Portables Investments Limited. The free float held by public investors ensures continued compliance with listing rules on the Nigerian Exchange.
