21M$ revenue for Q3 Highlights:
Total Transaction Value (TTV) of $396m for the nine months ended March 31, 2021, an increase of 1,470% from $25m for the same period in 2020
Revenue of $21m for the three months ended March 31, 2021, an increase of 1,479% from $1.3m for the same period in 2020
Adjusted EBITDA Profit increased to $1mfor the three months ended March 31 2021, up from Adjusted EBITDA Loss of $480,170 for the same period in 2020
March 2021 Quarter TTV of $205m, an increase of 93% from $107m for the prior Quarter
Over $25m in cash and cash equivalents based on today’s date.
Toronto/Melbourne, May 26, 2021 - BANXA Holdings Inc (TSX-V: BNXA/OTCQX: BNXAF/FSE: AC00) (“BANXA” or “The Company”) a Payment Service Provider (PSP) focused on providing clients safe, compliant access to the digital assets market, is pleased to announce it has recorded its maiden adjusted EBITDA profit since listing. The Company anticipates continued revenue growth and recognizes that in volatile markets, increased interest in cryptocurrencies from both individuals and institutions, confirms the resilience of the Company’s business model, growing transaction volumes as crypto currencies rise and fall.
Banxa had its initial public listing on January 6, 2021, and is the only Payment Service Provider (PSP) serving the digital asset industry that is publicly traded anywhere in the world.
Founder & Chairman Domenic Carosa stated, “I am pleased to see the financial performance of the business improving across all key metrics. I am confident that moving forward we will continue to demonstrate to our loyal stakeholders that we are steadfast in our mission to build the bridge between the existing financial systems and the emerging, expanding digital asset world.”
Banxa CEO Holger Arians said “We are very happy to announce these results. Over the previous three months we have been focused on improving the service and experience for our customers and expanding our capacity to service the rapidly growing demand. The industry is maturing, with greater infrastructure and interest. Our aim is to be at the forefront of this new stage of development.”
Summary of financial results
Revenue for the three months ended March 31, 2021, was AUD $21.0 M compared with AUD $1.3 M for the same period in 2020, an increase of 1,479%. Revenue for the nine months ended March 31, 2021, was AUD $ 28.4 M compared with AUD $4.6 M for the same period in 2020, an increase of 512%.
Gross profit for the three months ended March 31, 2021, was AUD $6.0 M compared with AUD $0.8 M for the same period in 2020, an increase of 686%. Gross profit for the nine-months ended March 31, 2021, was AUD $ 8.2 M compared with AUD $1.5 for the same period in 2020, an increase of 454%.
Adjusted earnings before interest, taxes, depreciation and amortization for the three months ended March 31, 2021, totalled AUD $1 M compared with a negative EBITDA of AUD $0.5 M for the same period in 2020.
Net loss for three months ended March 31, 2021 totalled AUD $1.4 M compared with net loss of AUD $0.6 M for the same period in 2020. Net loss for nine months ended March 31, 2021, was AUD $2.3 M, compared with net loss of AUD $2.5 M for the same period in 2020.
To see the full Press Release click HERE
To see the recent Interview with LD Micro and Domenic Carosa click HERE
The Company is also announcing a Zoom Investor Event on Thursday, May 27 at 4:30 ET detail below
Topic: Banxa Investor Call
Time: May 27, 2021 04:30 ET
Join Zoom Meeting
https://us02web.zoom.us/j/85058227028?pwd=WGFOaWVNbCsvV1RaY3VlcEZIeDN4UT09