Abaxx Technologies (ABXX) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 results with trading volume of 888,902 contracts, up 276% from Q1 2026, and year-to-date volume surpassing 1.1 million, a seven-fold increase over H2 2025.

• Expanded product suite with new launches, including Silver futures and Enwex Germany Solar, reaching 18 contracts.

• Advanced business development, onboarding key clearing members such as Yongan International Singapore and expanding network connectivity to 7 clearing firms and 11 ISVs live.

• Market data now available on over 400,000 institutional terminals via LSEG and Bloomberg.

• Addressed and refuted short-seller allegations, initiated regulatory and legal actions, and launched a share buyback plan to protect shareholder value.

Financial highlights

• Q2 2026 transaction and clearing fees totaled CAD 4.5 million, with liquidity-related credits nearly offsetting these fees.

• Net loss for Q2 2026 was CAD 28.8 million, up from CAD 21.6 million in Q1, including significant non-cash items; basic and diluted loss per share was $0.58.

• Cash and cash equivalents at quarter-end were CAD 95.1 million, up from CAD 44.8 million in Q1 2026, after raising CAD 69 million at CAD 54.25 per share.

• Net cash spend increased to CAD 16.3 million in Q2 2026, with total assets at CAD 162,558,832 and total liabilities at $47,102,966.

• Q2 2026 operating expenses (corrected) were CAD 19.2 million, up 28% from Q1.

Outlook and guidance

• Targeting 1 million average daily volume (ADV) within 3–5 years, with management expecting higher transaction, clearing, and market data revenues over the next three to four quarters.

• Expect continued growth in H2 2026, with precious metals segment potentially reaching standalone breakeven and supporting baseline costs by 2028.

• Strategic focus on expanding product offerings, increasing liquidity, and driving commercialization of digital infrastructure.

• Continued investment in network connectivity and ecosystem development to support long-term growth.

• Will continue investing in liquidity and commercial participation, with flexibility to adjust spending based on market conditions and cost of capital.