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Following 2021, CoinSmart Financial Inc. (NEO: SMRT), has continued its run of form entering 2022.
As a Canadian-headquartered crypto-asset trading platform, the company was recently listed on the NEO Exchange under the ticker SMRT, becoming among the latest crypto stocks to hit the market.
As leaders like Marathon Digital Holdings Inc. (NASDAQ:MARA) and Coinbase Global Inc. (NASDAQ:COIN) suffer a drawback in market valuations, CoinSmart may provide investors with a cheaper alternative for a proxy bet on the cryptocurrency market.
Bites by Numbers:
- Recorded a preliminary unaudited revenue in December 2021 of $2.15 million
- Recorded 460% increase in revenue compared to December 2020 driven primarily by increased trading volume
- Record quarterly revenue of $5.9 million
- Cash-flow positive with no debt
- Strong balance sheet
International Presence
According to the company, CoinSmart is one of the few crypto-asset trading platforms in Canada registered as a restricted dealer and one of two marketplaces with the Ontario Securities Commission and all jurisdictions across Canada. It’s also one of the first Canadian-headquartered trading platforms to have an international presence, accepting customers across 40 countries.
Given the company’s financials and adherence to regulations, management and the board of directors believe that the current market price of company shares does not adequately reflect its value, particularly when compared to other market contenders.
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