June 20, 2024

News and Analysis

Triterras Announces H1 2022 Financial Results

Triterras Inc., a leading fintech firm focusing on Nasdaq, Kratos, and trade financing, published its financial figures for the 6th month period that ended August 31, 2022. It represented the first portion of the Company’s fiscal year 2023. According to a press release, after a lawsuit was filed,

  • 26.4 million dollars in revenue, a 15% increase over the previous financial year’s comparable period and a massive decrease of 21.6 million dollars, representing $0.28 per share of the Company’s Ordinary Shares. This total loss includes a 14.4 million dollars impairment of trade and credit receivables and a 2 million dollars non-cash charge for a rise in the fair market value of warrant obligations.
  • An EBITDA loss of 19.1 million dollars, relative to an EBITDA loss of 4.1 million dollars in the preceding fiscal year’s comparable quarter.
  • On August 31, 2022, Triterras generated 33.9 million dollars in liquid cash and a 77.8 million dollar working capital surplus.


The key performance indicators are:

  • Total transaction volume was 989.6 million dollars for the period, relative to 4 billion dollars in the previous financial year’s comparable period. The trade financing ratio fell from 36.4% to 39.9% of overall transaction volume in the preceding fiscal year’s corresponding period.
  • An average transaction charge of 0.57% for the period, relative to 0.57% in a similar period in the prior fiscal year.
  • The total number of clients climbed to 249 from 132 in the preceding financial year.
  • The financing released during the first part of the fiscal year was 45.6 million dollars.
  • The Trade Marketplace module recorded a net transaction of 20.7 million dollars for the fiscal period.

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