Bigg Digital has Q4 2021 revenue of $3.3M BIGG DIGITAL ASSETS INC. PROVIDES FINANCIAL UPDATE FOR Q4 2021
Bigg Digital Assets Inc. has released preliminary, unaudited Q4 2021 financial metrics for the three months ended Dec. 31, 2021. All figures are in Canadian dollars unless otherwise stated.
Q4 2021 highlights:
- Gross operating revenue of $3.3-million (up 238 per cent year-over-year), with $2.85-million for Netcoins and $466,000 for Blockchain Intelligence Group (BIG);
- Netcoins revenue for Q4 represents 259-per-cent YoY growth and 30-per-cent quarter-over-quarter growth;
- Customer accounts grew 32 per cent QoQ, and customer fiat deposits exceeded $98-million in the quarter;
- Active users grew 52 per cent QoQ, number of transactions grew 42 per cent QoQ;
- Gross trading margins were approximately 1.4 per cent, including withdrawal fees;
- Blockchain Intelligence Group Q4 revenues increased 114 per cent YoY, and gross margins were at 89 per cent.
Further highlights:
- Bigg's full-year revenue of approximately $14.2-million represents a 463-per-cent growth over 2020;
- Netcoins full-year revenue of approximately $12.6-million represents a 717-per-cent annual growth rate over 2020;
- Blockchain Intelligence Group's full-year revenue of $1.6-million represents a 62-per-cent annual growth rate over 2020;
- As of Jan. 17, 2022, Bigg's cash and crypto holdings equal roughly $62-million. The company has no debt;
- Bigg currently owns 500 bitcoin, valued at approximately $26.8-million (excluding customer assets);
- Netcoins currently has customer assets under custody of approximately $75-million;
- Netcoins registered users now exceed 125,000.
Bigg chief executive officer Mark Binns commented: "In Q4 we saw excellent growth, across both Netcoins and Blockchain Intelligence Group, with combined revenue rising 26 per cent QoQ. On the year, Bigg saw a tremendous 463-per-cent annual growth, achieving over $14-million in revenue. As a business, we have long taken a compliance-first approach to the crypto ecosystem and are now seeing the benefits. We received the first restricted dealer licence for a publicly owned crypto trading platform in Canada, with Netcoins, at the very start of Q4, and the dividends are beginning to accumulate. In 2021, we were able to efficiently finance our businesses, add 500 bitcoins to our treasury, remain debt free, accumulate a robust treasury and achieve excellent revenue growth. We look forward to 2022 as a year of entering new marketing, launching new products and investing in more leading crypto businesses, all to the benefit of our shareholders and stakeholders. We look forward to providing further business updates in the coming weeks and months."
About Bigg Digital Assets Inc.
Bigg believes the future of crypto is a safe, compliant and regulated environment. Bigg invests in products and companies to support this vision. Bigg owns two operating companies: Netcoins and Blockchain Intelligence Group.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal.
Blockchain Intelligence Group is a global developer of blockchain technology building a secure future. Financial institutions and crypto companies depend on its technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. The crypto forensics technology was designed by investigators for investigators. Blockchain Intelligence Group is trusted globally by leading financial institutions, crypto companies, Fintech, Regtech, law enforcement and regulators.