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Abaxx Technologies Inc
(TSX:ABXX)
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Rating:50Neutral
Price Target:
C$17.50
▼(-17.26% Downside)
Action:Reiterated
Date:09/09/26
The score is held down primarily by weak financial performance—very small revenue versus large losses and material cash burn—despite a comparatively supportive balance sheet. Technicals suggest an oversold condition but still weak momentum, while valuation is constrained by negative earnings and no dividend support. The earnings call adds some upside from strong operating traction and growth guidance, but near-term profitability, cash burn, and execution/governance risks remain significant.
Positive Factors
Trading volume growth
Rapid growth in contract volumes indicates increasing participation and improving market adoption of Abaxx’s exchange infrastructure. If sustained, higher activity can strengthen liquidity, deepen network effects, and create a broader base for recurring transaction and clearing revenue over the next several quarters.
Negative Factors
Severe losses and cash burn
Large operating losses and deeply negative cash flow show that the current revenue base is not yet supporting the company’s cost structure. Continued cash consumption may require further financing or a material improvement in monetization, while also limiting flexibility if growth takes longer than expected.
Read all positive and negative factors
Positive Factors
Negative Factors
Trading volume growth
Rapid growth in contract volumes indicates increasing participation and improving market adoption of Abaxx’s exchange infrastructure. If sustained, higher activity can strengthen liquidity, deepen network effects, and create a broader base for recurring transaction and clearing revenue over the next several quarters.
Read all positive factors
Abaxx Technologies Inc (ABXX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$683.08M
Dividend YieldN/A
Average Volume (3M)132.81K
Price to Earnings (P/E)―
Beta (1Y)2.43
Revenue Growth303.70%
EPS Growth-1.45%
CountryCA
Employees101
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-1.76
Shares Outstanding38,789,170
10 Day Avg. Volume135,726
30 Day Avg. Volume132,806
Financial Highlights & Ratios
PEG Ratio1.74
Price to Book (P/B)22.29
Price to Sales (P/S)1693.68
P/FCF Ratio-41.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$66.00Price Target Upside212.06% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.76
Revenue Forecast (FY)C$17.12M
Abaxx Technologies Inc Business Overview & Revenue Model
Company Description
Abaxx Technologies Inc., engages in developing software tools which enable commodity traders and finance professionals to communicate, trade, and transact in Canada. The company offers Abaxx Spot, a smarter markets for physical gold trading; Adapt...
How the Company Makes Money
Abaxx’s revenue model is expected to be primarily tied to operating and monetizing market infrastructure and software used by participants in commodity markets. Key revenue streams may include: (1) transaction-based fees (e.g., per-trade, clearing...
Abaxx Technologies Inc Earnings Call Summary
Earnings Call Date:Aug 15, 2026
(Q2-2026)
| Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call presented strong and accelerating operational momentum: record trading volumes, rapidly rising ADV and open interest, expanded product distribution (LSEG/Bloomberg), a major China-linked clearing member, product launches (silver, solar), and meaningful progress on MarketOS/ID Plus and collateral innovation. These commercial and infrastructure milestones were complemented by a significant capital raise and TSX listing. Near-term financials and governance items moderated the tone: higher cash burn and operating expenses, a widened net loss driven in part by non-cash derivative losses tied to a falling share price, accounting presentation corrections (refiled statements), continued reinvestment of fees into liquidity (limiting near-term net margin), and a public short-seller campaign that required legal and regulatory responses. On balance, operational progress and growth metrics materially outweigh the financial and governance headwinds discussed, though the latter introduce short-term execution and market-confidence risks.Positive Updates
Record trading volume and rapid growth
Total volume reached 889,000 contracts in Q2 2026; year-to-date trading surpassed 1.1M contracts. Q2 volume was a ~7x increase versus full-year 2025 and Q2 alone exceeded all of 2025 by >450%. H1 2026 volume rose 613% versus H2 2025.
Negative Updates
Net loss widened and sizable non-cash items
Reported net loss of $28.8M in Q2 2026 versus $21.6M in Q1 2026 (≈33% increase). A $12.4M non-cash component was included in expenses; an unrealized loss on derivatives of $6.1M (related to convertible debenture mark-to-market from share price decline) materially impacted results.
Read all updates
Q2-2026 Updates
Positive
Negative
Record trading volume and rapid growth
Total volume reached 889,000 contracts in Q2 2026; year-to-date trading surpassed 1.1M contracts. Q2 volume was a ~7x increase versus full-year 2025 and Q2 alone exceeded all of 2025 by >450%. H1 2026 volume rose 613% versus H2 2025.
Read all positive updates
Company Guidance
Management guided that they are accelerating toward a 1 million ADV target over the next 3–5 years (implying ~50%–100% half‑over‑half growth) and expect continued H2‑2026 momentum after Q2 results: Q2 total volume 889k contracts (YTD >1.1M), Q2 ADV ~14.6k (July ADV 34.1k; single‑day >100k on July 1), Q2 average daily open interest 641 (July 1.12k), July monthly volume 785k ( >2× June) and H1‑2026 volume +613% vs H2‑2025; transaction and clearing fees were $4.5M in Q2 (used to fund liquidity), net cash spend was $16.3M in Q2 (vs $12.3M Q1 and $13.2M Q4‑25), reported net loss $28.8M (including $12.4M non‑cash and $6.1M unrealized derivative loss), the company raised $669M in Q2 at $54.25/sh and held $95.1M cash at June 30 (providing ~4–6 quarters of funded runway); management expects precious‑metals to potentially reach standalone breakeven and carry baseline costs by 2028 and anticipates net fee capture per contract to turn sharply positive by the end of the funded runway.Abaxx Technologies Inc Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.44M | 1.04M | 968.85K | 215.51K | 0.00 | 0.00 |
| Gross Profit | 2.35M | 802.85K | -11.60M | -7.07M | -3.43M | -2.11M |
| EBITDA | -61.51M | -58.65M | -29.79M | -639.01K | 0.00 | 0.00 |
| Net Income | -69.12M | -43.91M | -54.08M | -9.63M | -17.03M | -11.93M |
Balance Sheet | ||||||
| Total Assets | 162.56M | 125.13M | 51.55M | 48.70M | 14.00M | 29.29M |
| Cash, Cash Equivalents and Short-Term Investments | 112.70M | 74.53M | 25.46M | 25.22M | 9.61M | 21.80M |
| Total Debt | 24.01M | 38.38M | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 51.33M | 55.98M | 9.52M | 5.82M | 3.20M | 1.35M |
| Stockholders Equity | 119.14M | 79.38M | 50.27M | 48.70M | 14.76M | 30.64M |
Cash Flow | ||||||
| Free Cash Flow | -52.42M | -42.65M | -30.27M | -22.47M | -15.30M | -10.96M |
| Operating Cash Flow | -52.42M | -42.65M | -30.27M | -22.47M | -15.30M | -10.96M |
| Investing Cash Flow | -673.47K | -673.47K | 0.00 | 5.24M | -1.83M | -3.01M |
| Financing Cash Flow | 111.53M | 82.17M | 27.07M | 38.92M | 1.27M | 23.77M |
Abaxx Technologies Inc Technical Analysis
Negative
21.15
Price Trends
24.24
Negative
25.22
Negative
12.78
Positive
Market Momentum
-1.98
Positive
33.51
Neutral
15.63
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ABXX, the sentiment is Negative. The current price of 21.15 is below the 20-day moving average (MA) of 21.75, below the 50-day MA of 24.24, and above the 200-day MA of 12.78, indicating a neutral trend. The MACD of -1.98 indicates Positive momentum. The RSI at 33.51 is Neutral, neither overbought nor oversold. The STOCH value of 15.63 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ABXX.
Abaxx Technologies Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | C$31.28M | 12.59 | 25.28% | 12.71% | 8.75% | 5.82% | |
62 Neutral | C$19.20M | 3.13 | 19.26% | 20.57% | 22.27% | -28.13% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | C$52.63M | -24.12 | -66.53% | ― | 265.22% | -127.59% | |
50 Neutral | C$683.08M | -10.05 | -93.80% | ― | 303.70% | -1.45% | |
45 Neutral | C$54.29M | -4.00 | -651.25% | ― | ― | ― |
* Technology Sector Average
TSE:ABXX
Abaxx Technologies Inc
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17.27
5079.41%
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Abaxx Technologies Inc Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Abaxx Technologies Posts Record Q2 Volumes as It Accelerates Exchange and Tech Expansion
Positive
Aug 17, 2026
Abaxx Technologies reported record second-quarter 2026 results from its Abaxx Commodity Exchange, with total volume surging to 888,902 contracts and average daily volume rising 276% quarter-on-quarter, supported by increased spending on business d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.