Bullboard - Stock Discussion Forum Banxa Holdings Inc V.BNXA

Alternate Symbol(s): BNXAF

Banxa Holdings Inc. is a Canada-based company, which provides a financial technology platform. The Company’s principal business activity is being a payment service provider to global cryptocurrency exchanges. The Company’s products include On & Off Ramps, NFT Checkout, OpenRamp and Token Listings. It offers extensive global and local payment options resulting in conversion rates up to three... see more

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Banxa Holdings Inc > BNXA IS BUILDING STRENGTH QUARTER AFTER QUARTER , UP UP UP

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Post by FirstClass on Nov 28, 2024 9:20am

BNXA IS BUILDING STRENGTH QUARTER AFTER QUARTER , UP UP UP

Banxa Reports Strong September Quarter

2024-11-28 04:00 ET - News Release

Banxa Reports Strong September Quarter

Canada NewsWire

TORONTO, Nov. 28, 2024

TORONTO, Nov. 28, 2024 /CNW/ - Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) ("Banxa'' or the "Company") is pleased to report the unaudited financial results for the first quarter of fiscal year 2025, being the period ended September 30th, 2024 ("Q1"). The full results including Management Discussion & Analysis ("MD&A") are available on SEDAR.

Q1 FINANCIAL HIGHLIGHTS
(Figures are in AUD and all comparisons are relative to the three-month period ended September 30th, 2023, unless otherwise stated)

25% increase in Total Transaction Volume ("TTV") to $252 million (USD $164 million), up from $202 million (USD $131 million), driven by product innovation, organic growth with partners and addition of new partners
10% increase in Gross Profit to $7.3 million (USD $4.7 million), up from $6.6 million (USD $4.3 million), due to growth in TTV and Net Take Rate
- 16% increase in Gross Profit on TTV, excludes integration revenue*, to $7.0 million (USD $4.5 million), up from $6.1 million (USD $3.9 million)
Net Take Rate ("NTR") was down to 2.8% from 3.0% due to a softer market
67% improvement in Adjusted EBITDA to ($0.3 million) (USD ($0.2 million)), up from ($0.8 million) (USD ($0.5 million)), due to improved TTV, reduced operating expenses, specifically legal & compliance costs
- 62% increase in Adjusted EBITDA on TTV, excludes integration revenue*, to ($0.5 million) (USD ($0.3 million), up from ($1.4 million) (USD ($0.9 million))
Net loss per share on a basic and diluted basis to $0.00 (USD $0.00), compared to ($0.05) (USD ($0.03))
Cash, Trade Receivables** and Crypto Inventories at $11.1 million (USD $7.2 million), down from $11.5 million (USD $7.5 million) as of June 30th, 2024 due to expunging of short term debt and legacy tax liabilities