Banxa Holdings (BNXA) AI Stock Analysis

• Market Cap: C$65.09M
• Dividend Yield: N/A
• Average Volume (3M): 44.86K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.86
• Revenue Growth: 42.60%
• EPS Growth: -321.35%
• Country: CA
• Employees: 158
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): N/A
• Shares Outstanding: 42,131,000
• 10 Day Avg. Volume: 49,231
• 30 Day Avg. Volume: 44,858
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: C$1.50 ▲(0.67% Upside)

The score is held down primarily by weak financial performance—ongoing losses, negative cash flow, and negative equity with debt—despite strong revenue growth. Technicals are supportive of an uptrend but appear overbought, while valuation is constrained by negative earnings and no dividend yield data.

Positive Factors

Revenue Growth

The company's ability to achieve revenue growth indicates its potential to expand its market presence and capture more transactions in the growing cryptocurrency sector.

Strategic Partnerships

Strategic partnerships with cryptocurrency exchanges enhance Banxa's market reach and provide additional revenue streams through referral fees, supporting long-term growth.

Diverse Revenue Model

A diverse revenue model, including transaction fees and compliance solutions, positions Banxa to capitalize on multiple income streams, enhancing its resilience in the evolving fintech landscape.

Negative Factors

Negative Profitability

Negative profitability reflects challenges in managing costs and achieving sustainable earnings, which could hinder long-term financial health and investment capacity.

High Leverage

High leverage and negative equity indicate financial instability, posing risks to solvency and limiting the company's ability to invest in growth opportunities.

Cash Flow Issues

Negative cash flows suggest liquidity concerns and challenges in sustaining operations without external financing, impacting the company's long-term viability.

Banxa Holdings Business Overview & Revenue Model

Company Description

Banxa Holdings (BNXA) is a global payment service provider focused on the cryptocurrency industry. The company operates within the fintech sector, offering a seamless and compliant platform for users to buy, sell, and transact in digital currencies. Banxa's core products include fiat-to-crypto payment solutions, crypto wallet services, and compliance solutions that facilitate transactions for both consumers and businesses. The company aims to bridge the gap between traditional banking and the cryptocurrency ecosystem, providing users with an easy and secure way to engage with digital assets.

How the Company Makes Money

Banxa generates revenue primarily through transaction fees charged on its payment processing services. Each time a customer uses Banxa's platform to convert fiat currency into cryptocurrency or vice versa, the company earns a percentage of the transaction amount. Additionally, Banxa has established partnerships with various cryptocurrency exchanges and platforms, allowing it to earn referral fees for directing users to these services. The company's revenue model is also supported by offering value-added services, such as compliance and risk management solutions, which further enhance its earnings potential. Overall, Banxa's diverse range of services and strategic partnerships position it well within the evolving cryptocurrency market.

Banxa Holdings Financial Statement Overview

Summary

Banxa Holdings, Inc. demonstrates rapid revenue growth but suffers from profitability issues and financial instability. The company has negative equity and high leverage, which pose significant financial risks despite improvements in cash flow.

Income Statement

Banxa Holdings, Inc. shows considerable revenue growth with a substantial increase from $6.8M in 2020 to $347.4M in TTM, indicating strong top-line expansion. However, profitability remains a concern with persistent net losses, and negative EBIT and EBITDA across most periods, reflecting operational inefficiencies. The gross profit margin is declining, from 39.5% in 2020 to 8.7% in TTM, further highlighting cost management challenges.

Balance Sheet

The company's balance sheet shows significant financial strain, with negative stockholders' equity and increasing total debt, reaching $14.5M in TTM. The debt-to-equity ratio is not meaningful due to negative equity, and the equity ratio is negative, indicating insolvency risk. There is a downward trajectory in equity, contributing to financial instability.

Cash Flow

Cash flow from operations has improved to a positive $341K in TTM from significant negative figures in previous years. However, free cash flow remains weak, and the free cash flow to net income ratio is not favorable due to ongoing net losses. The operating cash flow to net income ratio is improving, but overall cash flow management remains a concern.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	416.91M	390.38M	80.35M	321.21M	60.72M	45.97M
Gross Profit	1.42M	7.44M	17.23M	28.76M	20.84M	16.85M
EBITDA	-6.27M	-4.32M	-7.33M	-792.79K	-16.30M	-5.29M
Net Income	-8.65M	-6.55M	-9.36M	-4.26M	-17.27M	-5.83M
Balance Sheet
Total Assets	13.81M	13.39M	16.52M	14.43M	15.39M	24.90M
Cash, Cash Equivalents and Short-Term Investments	2.93M	2.83M	8.30M	2.03M	9.36M	18.62M
Total Debt	21.02M	16.19M	9.57M	11.84M	1.18M	444.87K
Total Liabilities	28.40M	24.52M	18.74M	20.24M	7.95M	5.96M
Stockholders Equity	-14.59M	-11.13M	-2.21M	-5.81M	7.45M	18.93M
Cash Flow
Free Cash Flow	-9.07M	-5.34M	-11.33M	-7.96M	-8.23M	-1.18M
Operating Cash Flow	-9.06M	-5.33M	-11.33M	-7.95M	-8.03M	-1.11M
Investing Cash Flow	-16.89K	138.72K	2.59M	379.31K	-198.31K	-39.82K
Financing Cash Flow	7.22M	5.32M	7.50M	1.16M	-578.01K	16.83M

Banxa Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.49
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BNXA, the sentiment is Positive. The current price of 1.49 is above the 20-day moving average (MA) of 1.45, above the 50-day MA of 1.33, and above the 200-day MA of 1.09, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 74.01 is Negative, neither overbought nor oversold. The STOCH value of 89.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BNXA.

Banxa Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SPOT	74 Outperform	C$47.19M	2.24	39.00%	―	37.95%	―
PVT	64 Neutral	C$48.44M	14.04	7.17%	―	-13.43%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BNXA	46 Neutral	C$65.09M	-8.51	―	―	42.60%	-321.35%
PBIT	45 Neutral	C$8.92M	-3.11	-540.25%	―	-33.97%	59.10%
KNR	44 Neutral	C$104.58M	-3,571.43	-0.42%	―	-59.23%	-100.34%
PAID	42 Neutral	C$11.17M	-0.50	―	―	22.81%	11.13%

Banxa Holdings Corporate Events

Banxa Goes Private as OSL Group Closes C$1.55-Per-Share Buyout

Banxa Holdings has completed its previously announced take-private transaction, with OSL BNXA Acquisition Inc., part of Hong Kong–listed OSL Group, acquiring all outstanding Banxa shares for C$1.55 per share in cash under a court-approved plan of arrangement. Following the deal’s closing on January 2, 2026, Banxa becomes a wholly owned subsidiary of the OSL Group, and the company is moving to cease its status as a reporting issuer in Canada and delist its shares from the TSX Venture Exchange, OTC Pink and Frankfurt Stock Exchange. Management positions the combination as a strategic pairing of Banxa’s global payment network with OSL’s stablecoin and trading infrastructure in Asia, creating a larger regulated platform aimed at accelerating the integration of traditional finance with the digital asset economy and reshaping how global commerce participants access digital asset services.

The most recent analyst rating on (TSE:BNXA) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Banxa Holdings stock, see the TSE:BNXA Stock Forecast page.

Banxa Updates on Take-Private Deal with OSL Group, Extends Timeline

Banxa Holdings has provided an update regarding its planned arrangement with OSL Group Limited, highlighting its progress in securing crucial regulatory approvals across multiple jurisdictions, including the United States, the Netherlands, and the United Kingdom. The company extended the timeline for finalizing the transaction to January 29, 2026, with an anticipated completion date of January 2, 2026. The announcement underscores Banxa’s commitment to this strategic initiative, which is poised to strengthen its operations and further position it for growth in the cryptocurrency payment infrastructure market.

The most recent analyst rating on (TSE:BNXA) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Banxa Holdings stock, see the TSE:BNXA Stock Forecast page.

Banxa Holdings Advances Arrangement with OSL Group and Reports Q1 FY26 Results

Banxa Holdings Inc. has announced an update on its plan of arrangement with OSL Group Limited, following the Supreme Court of British Columbia’s approval and successful shareholder approvals. The company is progressing towards completing the arrangement, with most regulatory approvals in place, except for a few pending in the U.S., Netherlands, and the UK. Additionally, Banxa has filed its unaudited Q1 FY26 financial results, which are available on SEDAR+, indicating ongoing transparency and regulatory compliance.

The most recent analyst rating on (TSE:BNXA) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Banxa Holdings stock, see the TSE:BNXA Stock Forecast page.

Banxa Holdings Adjourns Court Hearing for OSL Arrangement

Banxa Holdings Inc. announced the adjournment of the Supreme Court of British Columbia’s final order hearing for its arrangement with OSL Group Limited due to scheduling and administrative issues. The hearing is rescheduled for November 20, 2025. The company and OSL are still pursuing necessary regulatory approvals, which could impact the completion of the arrangement and influence Banxa’s operational and strategic positioning in the crypto infrastructure industry.

The most recent analyst rating on (TSE:BNXA) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Banxa Holdings stock, see the TSE:BNXA Stock Forecast page.

Banxa Holdings Advances Arrangement with OSL Group and Secures Additional Funding

Banxa Holdings has announced the hearing date for the final court order to approve its plan of arrangement with OSL Group, which has been delayed to secure necessary regulatory approvals. The company has made progress in obtaining these approvals, with significant steps taken in the U.S., Netherlands, and the UK. Additionally, Banxa has filed its audited financial results for FY25 and updated its promissory note agreement to secure additional funding, which will support its ongoing operations and strategic initiatives.

The most recent analyst rating on (TSE:BNXA) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Banxa Holdings stock, see the TSE:BNXA Stock Forecast page.