Minehub Technologies (MHUB) Q2 2025 earnings summary

Executive summary

• MineHub develops and operates a digital supply chain platform for commodity markets, generating revenue from SaaS subscriptions and professional services, but remains in early commercialization with ongoing losses.

• Achieved US$7.3B in GMV transacted on its platform in the six months ended July 31, 2024, up from US$6.3B in the prior year period.

• Key customer wins include onboarding Codelco's copper contracts, a services agreement with a major Canadian bank, and a successful pilot with Southwire and Panama City Port Authority.

• Launched new platform modules and features, including Business Confirmations, Financial Document Module, and enhanced analytics and inventory management.

• Entered a strategic partnership and share exchange with Abaxx Technologies, and announced new executive appointments.

Financial highlights

• Q2 FY2025 revenue was $455,566, up $80,495 from Q2 FY2024; SaaS revenue rose by $158,903, while professional services revenue fell by $74,688 due to a completed non-recurring project.

• Gross margin for Q2 FY2025 was $164,441 (36%), up from $122,437 (33%) in Q2 FY2024.

• Net loss for Q2 FY2025 was $1,594,198, compared to $1,526,079 in Q2 FY2024; YTD 2025 net loss was $2,872,381, improved from $3,836,434 in YTD 2024.

• Adjusted EBITDA for Q2 FY2025 improved by $541,417 year-over-year, reflecting cost reductions and post-acquisition efficiencies.

• YTD 2025 revenue was $1,231,311, up $514,604 year-over-year, with gross margin at 51% versus 33% in YTD 2024, driven by a non-recurring professional services project.

Outlook and guidance

• Management expects lower revenue and margins in the next two quarters as professional services revenue is not expected to recur in the short term.

• Focus remains on growing ARR, which stands at $2.0M, and expanding customer contracts and volumes.

• Profitability may be highly variable in the short term due to investments in personnel and the shift to recurring SaaS revenue.

• The company is on track to achieve internal sales targets for Fiscal 2025, with a robust sales pipeline but longer sales cycles than anticipated.