- BIGG Digital Assets (BIGG) has reported financial results for the second quarter of 2021
- Revenue increased 26 per cent quarter-over-quarter
- Netcoins’ revenue represents over ~2000 per cent year-over-year growth
- Cash and cryptocurrency in treasury equalled ~C$65 million
- BIGG Digital Assets invests in crypto as a safe, compliant and regulated environment
- BIGG Digital Assets (BIGG) is down by 0.73 per cent and is currently trading at $1.36 per share
BIGG Digital Assets (BIGG) has reported financial results for the second quarter of 2021.
Gross revenue was C$4.55 million, including ~$4.16 million from Netcoins and ~$385,000 from Blockchain Intelligence Group.
Netcoins’ revenue represents ~24 per cent growth quarter-over-quarter (QoQ) and over ~2000 per cent growth year-over-year (YoY).
Revenue increased 26 per cent QoQ, while gross margins sat at 87 per cent.
Active users reached ~19,000, growing 40 per cent QoQ and 1,880 per cent YoY. Registered users exceeded 80,000 with gross trading margins in excess of 1.2 per cent.
Cash and cryptocurrency in treasury (excluding restricted cash and customer deposits) equalled ~$65 million. The company currently owns 430.8 Bitcoin valued at approximately $27.3 million.
Adjusted EBITDA, net of non-cash expenses, was positive for the quarter.
Mark Binns, BIGG Digital Assets’ CEO, commented,
“We are very pleased with our Q2 results – which reflect excellent growth across both Netcoins and BIG. We have made minority investments in two solid businesses – Wionder.fi and, of late, Zen Ledger – that boast strong leadership and offer significant growth potential. Netcoins has launched its iOS and Android apps to great reviews and happy customers, making it even easier and faster to trade crypto. We continue to execute on our core business plans.
In the second half of 2021 we look forward to continued growth, customer acquisition and product enhancements, as well as partnership expansions.”
BIGG Digital Assets invests in crypto as a safe, compliant and regulated environment.
BIGG Digital Assets (BIGG) is down by 0.73 per cent and is currently trading at $1.36 per share as of 9:31 am ET.
