Minehub Technologies (MHUB) Q3 2025 earnings summary

Executive summary

• Achieved 19% year-over-year revenue growth for the nine months ended October 31, 2024, driven by a shift to recurring SaaS revenue and strong customer activity.

• Transitioned away from non-recurring professional services to a SaaS subscription model, resulting in more predictable revenue streams.

• Expanded strategic partnerships, notably with Abaxx Technologies, Sumitomo Corporation, and Elane Technology, supporting growth in Asian and European markets.

• Onboarded a major Chinese smelter and expanded Sumitomo agreement to all non-ferrous metals, unlocking new market opportunities.

• Launched new platform features, including secure chat integration and an Assay Exchange Dashboard, enhancing customer value.

Financial highlights

• Revenue for the first nine months of fiscal 2025 was $1.6 million, up 19% from $1.4 million in the prior year.

• SaaS revenue increased by $311,000 (31%) year-over-year, offsetting a decline in professional services revenue.

• Net loss improved to $4.7 million from $5.2 million year-over-year, an 11% reduction due to cost management and higher revenue.

• Gross merchandise value (GMV) transacted on the platform reached $11.5 billion for the nine months, up from $9.6 billion year-over-year.

• Q3 fiscal 2025 revenue was $402,211, down $248,766 from prior year due to transition to recurring SaaS model.

Outlook and guidance

• Management aims to increase annual recurring revenue (ARR), which stood at $2.2 million as of December 16, 2024.

• Focus on expanding in Asian and European markets, leveraging regulatory drivers and strategic partnerships.

• Plans to improve profitability through continued cost containment and revenue growth.

• SaaS revenue ramp-up expected in calendar 2025 as late-stage pipeline opportunities close.

• Continued ecosystem expansion leveraging partnerships with industry leaders.