Minehub Technologies (MHUB) Q4 2025 earnings summary

Executive summary

• Achieved $14.7 billion in GMV for Fiscal 2025, a 20% year-over-year increase, driven by new and existing customer activity and expansion into the Chinese copper market.

• Maintained a 100% renewal rate among key enterprise customers and expanded commercial agreements with major partners, including Sumitomo, Elaine Technology, and Codelco.

• Launched new platform features such as document uploader, Trade Insights Dashboard, Asset Exchange Dashboard, business confirmations, financial documents, analytics dashboards, and enhanced inventory management.

• Strategic partnerships and board changes included Abaxx Technologies increasing its ownership to 19.99% and collaborations with Surecomp and ABAX.

• MineHub remains in early commercialization, generating revenue from SaaS subscriptions and professional services but continues to report ongoing losses.

Financial highlights

• Fiscal 2025 revenue reached $2.02 million, nearly flat year-over-year, with SaaS revenue up 17% and professional services revenue down due to project completion.

• Net loss improved to $6.24 million from $6.48 million in the prior year, a 4% reduction due to operating expense cuts.

• Gross margin for Fiscal 2025 was $857,864 (42%), with Q4 FY2025 margin dropping to 28% due to increased customer success team costs.

• Adjusted EBITDA for Fiscal 2025 was $(5.50) million, improving from $(6.64) million in the prior year.

• Cash at year-end was $262,200, with working capital of $1.69 million and 87 million shares outstanding as of January 31, 2025.

Outlook and guidance

• Focused on expanding within copper and aluminum markets, increasing trade volumes, and targeting growth in China and India.

• Accelerating pipeline development in adjacent verticals such as steel, nickel, and scrap markets, and deepening integrations with strategic partners.

• Management expects ARR growth and progress toward profitability, supported by platform enhancements and cost containment, but additional funding will be required.

• Strategies include shortening sales cycles, expanding in Asia and Europe, and leveraging partnerships.

• ARR was $2.0 million as of May 2025.