Blockchain
Banxa Announces Audited Fiscal Results for 30th June 2021, with Maiden Adjusted EBITDA Profit
Highlights:
● $688 million AUD (519.3 million USD) Total Transaction Value (TTV) for the Fiscal Year ended 30th June – up 893% year on year.
● Revenue of $46 million AUD (34.7 million USD) for the Fiscal Year ended 30th June – up over 577% year on year
● $25 million AUD (18.8 million USD) in liquid assets (including cash and equivalents).
● Adjusted EBITDA profit of $1.7 million AUD (1.2 million USD) excluding public company listing cost (one-off).
● Statutory loss of $5.7m AUD (4.3 million USD) including non-cash items and public company listing costs (one-off).
● Negative Operating Cash Flow of $0.60 million AUD (0.45 million USD).
● Growth of B2B customers with 72 signed partners.
Toronto, Ontario and Melbourne, Australia–(Newsfile Corp. – October 29, 2021) – BANXA Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) (“Banxa” or “The Company”), the world’s first public payment service provider (PSP) and compliance Reg-tech platform for the digital asset industry, is pleased to announce its audited results for the 30th June 2021 Fiscal year.
Banxa has grown exponentially over the past year and since its listing on January 6th, 2021. The company has built the Banxa Network to 72 partners, up from 24 over the previous 12 months. Banxa has also added a host of new coins and currencies, with more being added every month. The financial year covered in the current release runs from July 1st 2020 to June 30th 2021.
Domenic Carosa, Founder and Chairman of Banxa, said: “It is a great time for Banxa, and for the wider cryptocurrency market in general. We’ve had a stellar year. The company has grown from strength to strength on the back of our exceptional team, growing customer base and strong balance sheet. We see more opportunities, and we are adding more cryptocurrency licenses, more payment methods and more coins while exploring a NASDAQ dual listing. I expect this current fiscal year will be a positive one for Banxa.”
Holger Arians, CEO of Banxa, said: “These last 12 months have been fantastic, not just for Banxa’s results, but for the strong results we have been able to deliver with our partners. With our expanded leadership group, additional customer success resources and new product offerings, our partners are able to offer their customers an enhanced experience, with consistently strong conversion and fulfilment results. The best news is that this is just the start, with many new product releases, team hires and local market plans still to come.”
Table showing Adjusted EBITDA Bridge:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101276
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This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
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This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
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