BANXA Holdings Inc (TSX-V:BNXA, OTCQX:BNXAF) said it is entering 2024 committed to operating in a streamlined and sustainable manner, with a focus on financial sustainability.
The company said it expects to report its first-quarter fiscal 2024 financial results in the coming days, after which it said it will be current with all of its reporting requirements.
Meanwhile, it announced the completion of its audited annual financial statements for fiscal 2023.
“It was an exceptionally difficult period for crypto markets, however, Banxa successfully navigated through these challenges by focusing on its core business and aggressively driving efficiencies,” Banxa CEO Holger Arians said in a statement.
“Banxa enters 2024 as the go-to on- and off-ramp provider for Web3, and is in a strong position to capitalize on any positive market developments for crypto on the horizon.”
During fiscal 2023, the company narrowed its net loss over the previous financial year from a loss per share of A$0.38 to a loss per share of A$0.21.
Adjusted earnings before interest, taxes, deprecation, and amortization (EBITDA) rose to A$14.5 million (US$9.9 million) from A$7.8 million ($US$5.3 million).
Total transaction volume fell from A$1.4 billion (US$972 million) to A$646 million (U$440 million).