Abaxx Technologies Posts Record Q2 Revenue, Corrects $1.3M Expense Overstatement, Ends Quarter With $95.1M Cash

Abaxx Technologies Inc. (TSX:ABXX)(OTCQX:ABXXF) reported record second-quarter 2026 results on Monday, August 17, alongside a correction to its previously filed financials that restated Q2 operating expenses down by $1.3 million.

The correction matters for how the numbers read. Arithmetical errors in the unaudited financial statements and MD&A filed August 14, 2026 had overstated Q2 2026 operating expenses. As corrected, Q2 operating expenses were $19.2 million — still up $4.2 million, or 28%, from restated Q1 2026 operating expenses of $15.0 million, but not the higher figure initially reported.

There was also an accounting reclassification with real revenue implications. Abaxx determined that liquidity-related credits paid to market makers and liquidity providers constitute consideration payable to customers under IFRS 15. Those payments — totaling $4,494,753 in Q2 2026 — must now be deducted from transaction and clearing fees before stating revenue, rather than reported within operating expenses under 'Travel, marketing, and promotion' as previously presented. The reclassification shifts $4,494,753 from the expense side of the ledger to a reduction of top-line revenue, which investors should factor into any quarter-over-quarter comparison.

Abaxx ended Q2 2026 with $95.1 million in cash and cash equivalents, up from $62.6 million as of December 31, 2025. That improvement was driven in part by a $69.0 million gross raise completed during the quarter at $54.25 per share, per the company's August 17 news release on GlobeNewswire.

Per the same August 17 news release, Abaxx Exchange market data and pricing is now available on more than 400,000 institutional terminals through LSEG and Bloomberg, with licensing and distribution infrastructure described in the release as being in place to support future recurring market data revenue.

Abaxx Technologies is the majority shareholder of Abaxx Singapore Pte Ltd., which owns Abaxx Commodity Exchange and Clearinghouse. The company describes itself as a financial software and market infrastructure business.

The Q2 2026 Earnings and Business Update Call was held Monday, August 17 at 10:00 a.m. EDT. No executive transcript was available at the time of publication.

As of August 12, 2026, ABXXF carried a market capitalization of approximately $692.6 million at a share price of $17.98, per Stocktitan. The company held $95.1 million in cash and cash equivalents at quarter-end, per the August 17 news release on GlobeNewswire.

The corrected financial statements and MD&A replace the August 14 filings; investors should reference the restated figures for any Q2 analysis, per the August 17 news release.