RE:December transactional volume.A M/M decline is expected because December is generally a slower month. However, it will still show significant Y/Y growth.
I think the focus on monthly TTV is too short sighted. I care about the overall TTV trend continuing to be positive and accelerating. Also, I am eager to see the ramp-off since it launched a few months ago, which should further accelerate revenue.
Even with the recent decline in crypto, Banxa remains immensely undervalued. Based on my Q2 TTV expectations of $600M to $700M AUD, we are looking at close to $24M to $28M AUD in revenue in a single quarter. We are getting close to $100M AUD in revenue for fiscal 2022.
If you consider the metrics of the Bitbuy acquisition, $30M CAD revenue at an enterprise value of $206 CAD, which equates to about a 7x sales/EV multiple.
If Banxa were to be valued at the same multiple, we should have a market cap closer to $600M CAD based on fiscal 2022 revenue estimate of about $90M CAD.
The upside with Banxa is massive!
Good luck to all the longs!