The following is a summary of the Banxa Holdings Inc. (BNXAF) Q3 2024 Earnings Call Transcript:
Financial Performance:
Banxa Holdings achieved profitability in Q3 2024 with the total transaction value growing by 61%, and gross profit increasing by 56%, showing scalability of its operations.
The net take rate has improved and adjusted EBITDA is expected to land between a loss of $0.1 million and a gain of $0.9 million.
Business Progress:
Banxa has expanded in the US and EU markets by obtaining required licenses and integrated with new partners including Trust Wallet, Uniswap, Argent, BitPay, and Telegram Wallet.
The company is focusing on the growing market of on-chain activity, DeFi and stablecoins and is preparing for an increased demand for embedded solutions from next-generation internet applications.
Banxa plans to cater to businesses wanting to incorporate crypto operations without handling themselves, planning to become the go-to crypto platform.
They are improving internal operations with cost control, increased accountability, better partner relations, and reducing the high cost of capital, supported by employee share purchasing plans.
Banxa sees significant revenue potential in gaming, social networks and plans to activate Non-Teller Locations (NTLs) in over 45 states by the end of the year.
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