TORONTO, Sept. 5, 2024 /CNW/ - Banxa Holdings Inc. (TSXV: BNXA) (OTCQX:BNXAF) (FSE: AC00) ("Banxa'' or the "Company") is thrilled to share its unaudited June quarter and FY24 financial results, showcasing impressive growth and momentum. We are proud to have hit the top end of our FY24 gross profit guidance, as announced on May 21, 2024, affirming Banxa's strategy to focus on profitable growth.
UNAUDITED JUNE QUARTER FINANCIAL HIGHLIGHTS
(Figures are in AUD and all comparisons are relative to the three-month period ended June 30th, 2023, unless otherwise stated)
16% increase in Total Transaction Volume ("TTV") to $244 million (USD $165 million), up from $210 million (USD $142 million), driven by product innovation, organic growth with partners and addition of new partners, despite headwinds from a softer market
67% increase in Gross Profit to $7.2 million (USD $4.9 million), up from $4.3 million (USD $2.9 million), primarily driven by growth in Net Take Rate
60% increase in core operations' Gross Profit, excludes integration revenue*, to $6.9 million (USD $4.7 million), up from $4.3 million (USD $2.9 million)
Increase in Net Take Rate ("NTR") to 2.8%, up from 2.1%, due to improved efficiency in processing transactions and enhanced pricing
Increase in Adjusted EBITDA to ($0.5 million) (USD ($0.4 million)), up from ($5.1 million) (USD ($3.4 million)), due to improved TTV and NTR, reduced operating expenses, specifically staffing and legal & compliance costs
Increase in core operations' Adjusted EBITDA, excludes integration revenue*, to ($0.8 million) (USD ($0.5 million)), up from ($5.1 million) (USD ($3.4 million))
Net loss per share on a basic and diluted basis to ($0.02) (USD ($0.01)), compared to ($0.14) (USD ($0.09))
Cash, Trade Receivables** and Crypto Inventories at $11.2 million (USD $7.6 million), down from $14.7 million (USD $9.8 million) as of March 31st, 2023 due ...
