Banxa Holdings Inc V.BNXA

Voyager vs Banxa valuations

[rankininlet]

I hope the board will add to this:

Voyager has twice the sales that Banxa has thus, using sales as the valuation metric, Banxa valuation should be half of Voyager.  529mm / 2 = 264.5mm

Per share is 264.5mm / 40.7mm = $6.50

As current share price is $2.99 for Banxa, share price potential appreciation $3.51

Upside potential if Voyager and Banxa are similar enough to compare would be 117%

[Urbani]

VYGR is at $660 Million market cap. VYGR revenues for next Year at $25 Million in Revenue - they are not there yet., it is projected However, both of these companies have transations regardless and BNXA you can buy and sell as well. Cannacord is at 11 PE - BMO is 10 PE This is not financial institution ... This is a technology play with over 1.2 Million users already ! Clients ! on their

[Vancity1]

Urbani, I agree with you it is a tech company, however it is also a financial services company.  I feel like the valuation can be interpreted in a few ways.  anyway you want to value it as of today it's undervalued.  Good luck to everyone buckle up next week! 

[rankininlet]

Update.  Voyager market cap is 660mm on 20mm us$ projected annual sales (26mm cdn$).  BNXA has projected sales of ~13 mm annual sales which is half Voyager.  If you give BNXA a theoretical market cap of half Voyager market cap due to having half the sales of Voyager, that would be 660/2=330.  330mm/40.7mm shares =$8.10 per share which is upside of current share price of +170.9%

[Erazzarmus]

Financials can be found on Sedar...search for A-labs Capital 1 Corp., Dec 3rd 2020 filing and refer to appendix C, financials for BTC, which is company before the QT...it's last years but still good information.

[rankininlet]

Thanks.  I had a look with the  hope of gleaning an historical  commission % as well as see if content in the f/s would shed light on crypto price impact on revenues.  Because the f/s revenue history is very muched linked to crypto price it is hard to estimate historical  commission % at first glance.  Additionally, historically, a high crypto price looks to have

[Urbani]

Hope I can try to help.... The 2020 Year end Last Quarter End of Sept was $84 Million in Transactions. The percent was 3.45% giving revenues of $2,902,901 for the quarter. (I have been using 3% becuase it is conservative) The last quarter was $111,000,000 in transactions. So percentage being the same (assuming) as last quarter. December on $111,000,000 in transactions should be; $3,829,500

[Finders]

great brake down bro much appreciated so this shud b higher then vygr very soon

[LFC1973]

VYGR reports in USD and BNXA in AUD?  30% delta to be afctored in also for different reporting currency?

[Urbani]

Correct. 30% difference. VYGR revenues end of Sept. $2.6 Million ($2 Million US times 30%) vs BNXA at $2.9 Million end of Sept. revenues Expenses are much higher than with VYGR than first thought ... good catch. $5.5 Million in expenses for VYGR last reported quarter ! ($4.2 Million US times 30%) $1.6 Million in expenses for BNXA last reported quarter... It just got a net of about $700,000

[rankininlet]

Urbani, the challenge we have is the margin fluctuation inherent in crypto sales being a part of the margin calculation.  Total sales in Q1 was 2902901 split 1601809 comm'sn and 1301092 crypto sales.  Q1 Margin is ~3.46.  2020YE margin is ~9.80.  2019YE margin is ~17.36.  THESE ARE MASSIVELY DIFFERENT MARGINS!  The basis for the margin fluctuation is the mixture

[Urbani]

Rank - I think you are reading too much into it. Conservative 3% I was using, but yes, end of 2020 Sept 30th was an average of 3.46 percent... I helped with a debenture in this company, albeit small one they had last Year at .85 cents to get listed. Things change. I suggest we sit back and watch the ride. Our comparable is $660,000,000 market cap. You are certainly retail for sure. Anyways

[rankininlet]

We shall enjoy the ride together.