Alchemy reports record $711m revenue and 60% annual growth

Alchemy, the world’s fastest-growing circular technology company, has reported a record-breaking $711 million in revenue for the financial year ending 31 March 2024. This represents a 60% increase compared to the previous year’s $443 million and reflects the company’s success in expanding the circular economy by trading sustainable technology solutions globally.

Founded in 2017, Alchemy has rapidly positioned itself as a leader in the circular tech industry. The company traded over 2.4 million devices globally in FY24, up by 700,000 from the previous year, and prevented 148 million kilograms of CO2 emissions from entering the atmosphere. Since its inception, Alchemy has traded more than seven million devices worldwide, continuing to push boundaries in the sector.

Walter Vicente, CEO of Alchemy, expressed pride in the company’s achievements, saying, “This year’s milestones reflect our unwavering commitment to minimising environmental impact while maximising value for consumers and businesses alike. We are reshaping the circular tech economy, with a strong focus on sustainability and innovation.”

Vicente highlighted the role of the company’s new operations centre in Miami, which contributed to significant growth in the US market, Alchemy’s largest. In the Asia-Pacific region (JAPAC), the company saw an impressive 97% increase in revenue year-on-year, marking it as the fastest-growing region for the business.

Innovation remains at the heart of Alchemy’s operations. The company launched Callisto, an online wholesale marketplace for tech buyers and sellers, earlier this year. Alchemy has also become the first and only device refurbisher able to calculate and certify the CO2 emissions savings of every device it sells, setting a new industry standard. “We’re not just growing as a business – we’re driving industry-wide change and promoting global sustainability,” said Vicente.

In addition to its financial success, Alchemy’s operational expansion has been substantial. In June 2023, the company opened a third US site in Miramar, Florida. Globally, it now operates in 12 countries, enabling it to cover 60 markets worldwide.

The company’s impact has not gone unnoticed. Alchemy was ranked as the number one Irish business on the Financial Times 1000 list of Europe’s fastest-growing companies, placing 257th overall. It also featured in Deloitte’s Technology Fast 500 EMEA rankings and was named the 11th fastest-growing technology company in Ireland in Deloitte’s Technology Fast 50.

Looking to the future, Alchemy aims to further expand Callisto, its tech trading platform, which simplifies wholesale tech purchasing. The platform allows buyers to access global deals and sellers to reach buyers worldwide, all from a single, secure online marketplace. The company stresses the importance of trust in its operations, ensuring seamless management and secure transactions.

As Alchemy continues to grow, it remains focused on its mission to make advanced technology more accessible, affordable, and sustainable. By reducing environmental impact and innovating within the circular economy, Alchemy aims to lead the tech sector into a greener, more sustainable future.