Banxa Holdings Inc V.BNXA

CATCH OF THE DAY

[Khumamayo]

Total Transaction Value (TTV) for February 2021 of CAD $70.4M. 

This result is up over 980% from Feb 2020 based on the Previous Corresponding Period (PCP).

 

This follows the January 2021 reported TTV of CAD $55M, bringing the combined TTV for Jan/Feb 2021 to CAD $125M, which means the company has exceeded the December 2020 quarter TTV of $111M with a month still to go.

 

Holger Arians, CEO of BANXA said, "Since our launch in 2014, Banxa has grown from strength to strength. The recent dip in the bitcoin market has left our order volume unaffectede
, and our market share continues to increase. As the company expands, our aim is to build our systems and teams for scale. While we anticipated rapid growth, current market conditions are having us revise our projections as we continue to exceed our own forecasts. We look forward to 2021 and the unveiling of new products and offerings to better serve our customers and partners."

[Tuco110]

If you look at previous quarterly reports it seems BNXA revenue is approximately 4% of TTV. If they can score $90mil in TTV for March we'd be looking at about $8.5mil in rev. Hopefully they can average $100mil TTV for the rest of 2021(at a minimum) that's $1.1bil TTV, $900mil +$215mil. At 4% margin that's $44mil. Standard valuation multiple is 20 times revenue, 20 x $44mil is $880mil