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Banxa Q3 Financials - TTV up 93% for the qtr to $205m!

Posted by Justin Rosenberg on 27-May-2021 04:35:45
 Further to our blog post in Jan 2021 regarding our investment in Banxa in its IPO at CAD $1, we're very pleased Banxa announced today the following Q3 results. Banxa's share price flew from $1 to $8 within 3 months of its listing. Banxa took the opportunity to raise another CAD$15m at CAD$4 four months after listing. The recent crypto correction brought Banxa down to $4, presenting an attractive entry opportunity for those who didn't get enough in the placement. Please contact me if you would like a seamless way to trade any of the Canadian exchanges.
 
Please feel free to attend the Zoom Investor Presentation tomorrow at 6.30 am AEST, details below.
 
For further background, here is an article written about Banxa today.
 
And here is the latest research report with a $15 target price.
 
---------- Forwarded message ---------
From: Banxa Holdings Inc. <investor@banxa.com>
Date: Wed, May 26, 2021 at 10:43 AM
Subject: BANXA Reports March Quarter Financial Results, Maiden Adjusted EBITDA and Record-setting Revenue

Canada NewsWire

BANXA Reports March Quarter Financial Results, Maiden Adjusted EBITDA and Record-setting Revenue

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 $1.3mfor the same period in 2020

  • Adjusted EBITDA Profit increased to $1m for 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 from the prior quarter

  • Over $25m in cash and cash equivalents based on today's date.

TORONTO and MELBOURNE , May 26, 2021 /CNW/ - BANXA Holdings Inc (TSXV: 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."

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

Meeting ID: 850 5822 7028
Passcode: 038456
One tap mobile
+16465588656,,85058227028#,,,,*038456# US ( New York )
+16699009128,,85058227028#,,,,*038456# US (San Jose)

Meeting ID: 850 5822 7028
Passcode: 038456
Find your local number: https://us02web.zoom.us/u/kek0pQHOvA

Summary of financial results

  • Revenue for the three months ended March 31, 2021 , was AUD $21.0 M compared with AUD $1.3 Mfor 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 endedMarch 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.

Adjusted EBITDA is a non-IFRS financial measure that we calculate as net income (loss) before tax excluding depreciation and amortization expense, share based expense, unrealized gain on inventory, finance expense and listing expense. Adjusted EBITDA is used by management to understand and evaluate the performance and trends of the Company's operations. The following table shows a reconciliation of adjusted EBITDA to net income (loss) before tax, the most comparable IFRS financial measure, for the three and nine months ended 31 March 2021 and 2020:

   
 

Nine months ended

31 March 2021

Nine months ended
31 March 2020

Three months ended
31 March 2021

Three months ended
31 March 2020

Loss before tax

$(1,079,542)

$(2,173,576)

$(171,497)

$(635,039)

Depreciation and amortization

25,418

464,608

9,243

154,869

Share based expense

1,218,501

-

1,117,860

-

Gain on fair value of inventory

(2,744,986)

-

(380,364)

-

Finance expense

580,826

-

399,123

-

Listing expense

2,690,513

-

-

-

Adjusted EBITDA

690,730

(1,708,968)

974,365

(480,170)

   

Click here for the full announcement.

ON BEHALF OF THE BOARD OF DIRECTORS

Per:  "DOMENIC CAROSA"
Domenic Carosa
Chairman (1-888-218-6863)

About BANXA

BANXA - Banxa Holdings Inc. (TSX-V:BNXA/OTCQX:BNXAF/FSE:AC00) is a Payment Service Provider (PSP) with a mission to build the bridge between traditional financial systems, regulation and the digital asset space. Our goal is to onboard the general public to digital currency by building a fully compliant payment infrastructure that enables simple and secure conversion of fiat currency to digital currency (eg. USD/CAD to BTC/ETH). Banxa has offices in Australia , the Netherlands and Lithuania . For further information go to www.banxa.com

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Topics: Technology, microcap, Bitcoin, TSX

Banxa (TSX.v: BNXA) up 92% on day 1 of IPO today

Posted by Justin Rosenberg on 07-Jan-2021 17:31:21
 
We're very proud to have co-cornerstoned the IPO raise of Banxa (TSX-V:”BNXA”) and, personally, nice to be included in the Chairman's list below. Congratulations to the company, up 92% on day 1! Wonderful for me to follow it that much more closely, from my new digs in Toronto! We look forward to continued progress! 
 
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Topics: Technology, microcap, Bitcoin, TSX

ASX200 Midday Wrap 29 Jan 2018.

Posted by Billy Macris on 29-Jan-2018 12:09:08

So at the midpoint of the day we find the local market recovering from session lows to be currently trading at 6071.90 +0.36 percent or 21.90 points. Three of the big four banks are trading higher with ANZ -0.24 percent being the exception and the news from the big end of town in the mining space is all a little mixed. BHP -0.32 percent, RIO +0.22 percent and FMG -1.37%. Other notable movers at midday include CSL +1.59 percent as it closes in on $150.00 per share  and COH +1.71 percent at $172.24. In other moves NST is lower by 5.19percent, RRL - 4.56 percent and SAR -3.31 % taking the mantle from RFG which is now currently lower by 2.99 percent.  ORE continues to push ahead +6.53 % followed by ILU +5.88 percent and LNK +3.57 percent so far today. Curreny markets remain relatively quiet so far today as bitcoin is trading at USd $11740.00. ORE Chart Attached.

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Topics: Market News, Bitcoin, ASX200 Midday Wrap

ASX200 A.M Wrap

Posted by Billy Macris on 25-Jan-2018 11:07:27

A mixed night in the U.S and weakness in the U.S dollar may now start to have the markets second guessing the strength of more upside as volatility picked up overnight.  The Dow turned an initial gain of 180+ points in to a loss of appximately 100 points before finishing the sesion higher by 41 points. The Nasdaq was the hardest hit after Texas Instruments (TXN) fell more than 8 percent for the session putting pressure on the technology space and in particular the semiconductor sector. The USD continued to see more downside pressure hitting a low below 89.00 in the front futures contract.  The losses for the U.S. Dollar were widespread as the Euro traded above 1.2400, the Yen traded under 109.00, the pound traded above 1.4250 and the AUD hit 0.8075 overnight. Gold broke out of recent ranges trading as high as USD $1362.00 per ounce and bitcoin has recovered to be trading at USD $11350 this morning. On the local market early weakness sees the ASX200 trading lower by 22.80 points or 0.38 percent at 6031.90. The big four banks again continue to trade mainly lower, strong commodity prices overnight have helped BHP +0.55%, RIO +0.08% and FMG +0.50 percent . Other notable movers  on the local market this morning include CAT +3.41 percent adding to strong gains from yesterday (chart attached), WSA +5.64%, WHC +3.40 percent and RSG +3.33 percent. 

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Topics: Bitcoin, ASX A.M Wrap

ASX200 Midday Wrap 22 January 2018

Posted by Billy Macris on 22-Jan-2018 13:26:22
The ASX200 has fallen into red territory late in the morning session with the main Index trading lower by 6.60 points or -0.11 percent at 5,999.20.  DHG continues to hold top spot with the biggest loss for the session currenltly lower by 10.99%. The negative news has had an impact on FXJ which is currently also lower by 5.90%. MYX continues to trade lower with losses to the tune of 5.03 percent this afternoon. Media stocks NEC + 7.38 percent and SWM +5.91percent have continued to remain positive for the session while WSA has also had a strong session currently trading +3.03 percent at $3.23. The Aussie Dollar is sitting just below USD $0.8000 at $0.7980 while the Yen is steady at 110.76, euro  1.2234 and GBP 1.3868 against the US Dollar. Spot gold remains unchanged at USd $1331.00 per ounce and bitcoin is trading at USd $11,400.00. markets will be waiting on further news out of the U.S. tonight to see if a deal can be reached with regard to the government funding. (NEC.AX hourly Chart Attached.)nec ax.png
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Topics: Market News, Bitcoin, ASX200 Midday Wrap

ASX200 PM Wrap 17 Jan 2018

Posted by Billy Macris on 17-Jan-2018 18:20:21
The ASX200 finished the day towards the low end of the trading range postiing a loss of 0.54% or -32.80 points to close at 6015.80. The banks all posted lossess , the big miners BHP -2.91%, RIO -3.46% and FMG -3.01% all weighed on the main index.  SRX remained the best performer on the day gaining 13.93%, followed by WTC +3.55% and A2M +2.43%.  The Aussie dollar came within a whisker of USD .8000 after hitting an intra day high of 0.7998 before falling back towards 0.7950. The Yen continues to trade below 111.00 at 110.80 and the Euro remains above 1.2200 at 1.2222. Spot gold has given back some minor gains pushing back towards USD $1333.90 per ounce while all eyes remained on the cryptocurrencies where bitcoin pushed towards USD $10,000 before recovering to be currently trading at $11355.rio ax.png
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Topics: Bitcoin, ASX PM update

ASX 200 A.M update

Posted by Billy Macris on 17-Jan-2018 10:54:04

Finally some volatility overnight with the Dow starting some 200 points higher then pushing to more than a 100 point loss overnight before finishing the session down just 10.33 points. Harder hit were the likes of the Dow Jones Transportation Index and the Russell 200 while the biggest mover overnight was bitcoin which pushed towards USD $10,000 overnight on talk of further crackdowns by China in the cryptocurrency space.  Other news surrounding the health of President Trump and potential U.S government shutdowns did little to help markets higher. Locally this morning the ASX is trading lower by 26.20 points or 0.43% at 6022.40. Main movers include BHP -2.91%, GXY -2.82%, ILU -2.68 and the woes contnue for RFG -2.67%. On the positive side of the ledger we have SRX +15.65%, FLT +2.48% and OZl +2.20% following from a strongs earnings announcement. The U.S. Dollar index continues to hold above 90.00, (only just), the Euro is trading at 1.2266 following on from comments out of Europe that the ECb may end its bond buying program later this yeat and the yen continues its push towards 110.00 currently trading at 110.32.

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Topics: Bitcoin, ASX A.M Wrap

ASX200 A.M Wrap

Posted by Billy Macris on 10-Jan-2018 10:50:45
The ASX 200 has opened slightly higher this morning failing to consolidate after several strong sessions out of the U.S. Higher bond yields in the U.S have given the financial a sector a boost and this morning among the better performers in the ASX200 are  PTM +4.17% and MFG +3.63%. A stronger crude oil price overnight sees BPT +2.51% while GXY +2.05% and LYC +2.68% continue their run higher.  JBH leads the charge lower with a decline of 2.67% followed by NST -2.57% and BSL -2.55%. The stronger U.S. Dollar overnight sees the AUDUSD back towards 0.7815 as gold pushes back towards USD $1310 per ounce and bitcoin is currently trading at USD $14425. Today's chart U.S 10 Year Treasury Note Futures.ZNc1.png
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Topics: Trading, Market News, Bitcoin

ASX200 P.M Wrap

Posted by Billy Macris on 08-Jan-2018 17:01:41
The ASX200 surrendered early gains to finish the session  higher by a modest 8.1 points or 0.13% at 6130.40 despite the strong lead from offshore markets Friday. Among the better performers on the day we saw VOC +3.82%, MND +3.43% and QAN +3.07%. At the other end of the spectrum SYR fell 2.69%, API finished lower by 2.67% and LYC closed the session down with a loss of 2.58% for the day. Currency markets have had a quiet start to the week with the AUDUSD currently trading at 0.7838 marginally lower from Friday's close while spot gold remains towards usd $1318 per ounce. Bitcoin continues to take a back seat to its competitiors currently lower by 4.02% at  USD $15900 as ethereum has pushed through USD $1000 and is currently trading at $1130.
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Topics: Trading, Market News, Bitcoin

ASX 200 P.M Wrap

Posted by Billy Macris on 05-Jan-2018 16:38:41
The ASX 200 finished at the top end of the days trading range closing higher by 0.74% or 45.20 points at 6,122.30.  It was the same list of suspects from the morning session GXY +4.22%, RWC +4.22%, ORE +3.86 % and FMG +3.48%. On the downside BGA -2.49%, WTC -2.42% and BKL -2.05% were among the poorer performers on the day. The AUDUSD has also had a quiet session closing the day at 0.7852 while spot gold XAUUSD is at $1321.50 USd per ounce.  Bitcoin is trading lower by approximately 1.90% at USD $14,900. Tonight the market will be watching for non farm payrolls in the U.S with expectations being a gain of 190K. FMG chart attached.
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Topics: Trading, Market News, Bitcoin