Abaxx Technologies (ABXX) Q4 2025 earnings summary

Executive summary

• Achieved a milestone year with a major transition from infrastructure build to high-velocity, revenue-generating growth, de-risking the business and accelerating long-term growth.

• Expanded product suite with launches in Nickel, Lithium, Gold, and Wind contracts, with gold and LNG contracts leading volume growth and the first wind trade executed.

• Record growth in trading volumes, especially in gold, LNG, and carbon contracts, with Q1 2026 volumes up 145% from Q4 2025 and significant traction in Asia, India, and Europe.

• Proprietary MarketOS technology and Digital Title framework validated through pilots, positioning for commercial rollout and integration with regulated clearing infrastructure.

• Strategic focus on expanding global reach, onboarding new clients, and leveraging regulatory milestones such as U.S. FBOT approval and Trayport connectivity.

Financial highlights

• Generated C$1.0 million in top-line exchange trading revenue for 2025, marking the first year of material revenue.

• 2025 trading volume totaled 160,844 contracts, reflecting strong market traction.

• Operating cash deficit for 2025 was about $30 million, with a 5%-10% increase in Q4 cash spend to support volume breakout.

• Ended 2025 with over C$50 million in cash equivalents and over C$35 million in marketable assets.

• Equity compensation increased in late 2024 and 2025 due to exchange launch bonuses; 2025 year-end bonuses reduced by 20%.

Outlook and guidance

• Targeting 1 million average daily volume (ADV) in futures and options trading by 2030.

• Digital Title platform aims to unlock benefits of tokenization for over $40 trillion in assets.

• Positioned to sustain current growth trajectory through at least the end of 2026 with available capital.

• Anticipate further volume growth as onboarding and connectivity milestones are met, especially in the U.S., China, and U.K.

• Next update in 45 days will provide richer Q1 2026 data and new product announcements.