Banxa (BNXA) Q3 2025 earnings summary

Executive summary

• Reported unaudited Q3 FY2025 results for the period ended March 31, 2025, with significant declines in transaction volume and profitability amid increased competition and market volatility.

Financial highlights

• Total Transaction Volume (TTV) decreased 28% year-over-year to $194 million AUD, impacted by partner churn and low exposure to Solana-based memecoins.

• Gross Profit fell 32% year-over-year to $5.5 million AUD, affected by lower TTV, reduced Net Take Rate (NTR), and inventory devaluation.

• NTR declined to 2.0% from 2.9% due to inventory devaluation and reduced pricing.

• Adjusted EBITDA dropped by $4.0 million AUD to negative $2.8 million AUD, reflecting reduced TTV and NTR, partially offset by integration revenue.

• Net loss per share was ($0.05) AUD, compared to $0.01 AUD in the prior year period.

Key financial ratios and metrics

• Gross Profit on TTV, excluding integration revenue, decreased 42% to $4.6 million AUD.

• Adjusted EBITDA on TTV, excluding integration revenue, was negative $3.6 million AUD, a 49% decline.

• Cash, Trade Receivables, and Crypto Inventories totaled $11.5 million AUD, down from $13.5 million AUD at December 31, 2024.