Canada’s MineHub Technologies has put a C$2 million annual recurring revenue number on the board following its recent acquisition of Waybridge.
The Toronto-listed microcap said its inaugural ARR projection reflected its expanded platform user base. It expects to have about 130 companies enrolled on its digital commodity supply chain platforms by the end of 2023.
MineHub CEO Arnoud Star Busmann said anticipated 20-25% operating cost reductions post integration with Waybridge would reduce the company’s timeline to profitability.
“We are witnessing very strong network effects as existing customers expand usage across their own supply chains,” Star Busmann said.
“MineHub is helping market-leading firms get ahead of the digitisation trend to maintain market share and profitability in a rapidly changing competitive landscape.
“New legislation around materials’ provenance, as well as carbon emissions and ESG reporting, means outdated manual processes for physical commodity movements will soon be too expensive or even unfeasible.”
BHP, Sumitomo and Codelco are among early MineHub users.