VANCOUVER, British Columbia, April 28, 2026 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. (“BIGG” or the “Company”) (TSXV: BIGG; OTCQB: BBKCF; WKN: A2PS9W), a leading innovator in the digital assets space and owner of Netcoins, Blockchain Intelligence Group, and TerraZero, reports its audited financial results for the fiscal year ended December 31, 2025. All figures are in Canadian Dollars (CAD) unless otherwise noted.
2025 Financial Highlights:
- Revenue increased by 3% to $12.86M (2024 - $12.43M), comprising $10.48M for Netcoins, $2.26M for Blockchain Intelligence Group and $0.12M for TerraZero.
- Gross margin expanded to 97.6% (2024 - 95.5%), reflecting improved product mix and lower cost of sales across segments.
- Net loss of $1.3M (2024 - $25.8M), an improvement of approximately $24.6M year-over-year (YoY). Excluding the $5.2M CRA GST/HST reassessment provision reversal recognized in 2025, the normalized net loss was approximately $6.5M (2024 normalized loss - $1.3M), reflecting the Company's continued investment in its platforms. The 2024 normalized figure excludes the $16.1M goodwill impairment and $8.5M CRA GST/HST reassessment provision, both non-recurring.
- Customer Assets Under Custody (AUC) were approximately $168.2M (2024 - ~$201.4M) in digital currencies held in fully segregated accounts. The YoY decline reflects lower cryptocurrency market prices at December 31, 2025, relative to year-end 2024, not a reduction in customer holdings or platform activity - gross trading volume grew 29% to over $1.068B during the year.
- Cash and cash equivalents of $6.2M (2024 - $6.25M) remained stable year-over-year, supported by proceeds from digital currency sales, despite a lack of equity issuances during 2025.
- Total cash and cryptocurrency holdings of approximately $15.3M (2024 - ~$25.1M). Decline reflects lower crypto market prices vs. year-end 2024 and strategic monetization of Bitcoin holdings to fund operations.
- Free working capital improved substantially from a deficit of $(4.1M) in 2024 to a surplus of $4.1M in 2025, following resolution of the CRA GST/HST liability.
- No debt or borrowings outstanding as at December 31, 2025 or as at the date of this release.
Segment Results:
Netcoins — Crypto Trading Platform
- Netcoins revenues were $10,476,448 (2024 - $10,559,392), down 1% year-over-year, on gross trading volume of $1.068B (2024 – $831M) - a 29% increase in volume that reflects both the higher cryptocurrency price environment throughout 2025 - Bitcoin trading between USD ~$74,000 and a new all-time high of USD ~$126,000 - and the platform's growing market position, handling approximately 1.1% of the $97B+ in Canadian retail crypto trading activity. The revenue decline despite higher volume reflects a lower average fee rate of 0.97% (2024 – 1.26%), reflecting the maturing regulatory environment and competitive landscape. On an annual basis, revenues were broadly flat as volume growth was largely offset by fee rate compression.
- Fee rate of 0.97% (2024 - 1.26%), reflecting a more competitive trading environment. Management is focused on improving fee rates through product enhancements and growing active user engagement.
- Netcoins net income of $5,105,712 for 2025 (2024 - $341,848) includes the $5.2M CRA provision recovery. Net income excluding the CRA recovery was approximately $(108K). This near-breakeven result on a normalized basis, achieved while continuing to invest in platform development and regulatory advancement, demonstrates that Netcoins' core brokerage operations have reached operating breakeven and are positioned to generate net income as trading volumes, active users, and fee rates improve.
- Customer Assets Under Custody (AUC) on the Netcoins platform were approximately $168.2M (2024 – ~$201.4M) across 55+ digital assets, held in fully segregated accounts. Bitcoin ended 2025 at ~USD$87K (2024 - ~USD$106K), a ~18% price decline. Most major altcoins (XRP, ETH, SOL, DOGE) also declined materially from their year-end 2024 peaks. The AUC decline of 16.5% is less than the Bitcoin price decline of ~18% - meaning on a volume/unit basis, customers actually held more crypto at year-end 2025 than at year-end 2024. Meanwhile, gross trading volume grew 29% to $1.068B, confirming the platform is growing.
- Active users of approximately 37,114 (2024 - 42,406), down 12% YoY, reflecting a normalization following the exceptionally high activity in Q4 2024 and early Q1 2025, driven by a crypto market surge. Despite the user count decline, gross trading volume increased 28%, indicating that average transaction sizes grew materially as crypto asset prices appreciated, and that the active user base transacted more frequently and at higher values per trade. Management’s near-term focus is on user reactivation and new user acquisition through the recently launched referral and affiliate program.
- Cryptocurrency staking revenue grew 37% to $86,950 (2024 - $63,246), reflecting continued growth in customer engagement with staking services across Canada.
- SOC 2 Type 2 compliance was achieved effective August 1, 2025 - one of the highest globally recognized information security standards, reinforcing Netcoins’ position as a trusted, regulated platform.
- Two-year exemptive relief extension obtained from the BCSC in September 2025, permitting continued operations as a registered restricted dealer through September 2027.
- Netcoins is actively advancing its application for investment dealer registration with CIRO and the BCSC - the next major regulatory milestone on its path to becoming a full investment dealer. Netcoins will submit its CIRO Membership Application before June 1, 2026.
Blockchain Intelligence Group — Blockchain Analytics & Forensics
- BIG revenues grew 36% to $2,265,741 (2024 - $1,666,280), surpassing the previous record of $2,030,502 set in 2022 during a bull market and representing BIG's highest annual revenue in the Company's history. The result is particularly notable given that BIG revenues declined to $1.5M in 2023 amid a prolonged crypto bear market - the recovery to a new all-time high in 2025, at a 90% gross margin, reflects both the resilience of BIG's recurring subscription model and the accelerating global demand for blockchain forensics and AML compliance tools.
- Gross margin expanded significantly to 90% (2024 — 69%), driven by a more favourable subscription-led revenue mix and significantly lower trailing commission costs ($186,811 vs. $487,124 in 2024).
- Subscription revenues (BitRank Verified®, QLUE) grew 34% to $1,819,221 (2024 - $1,355,556), demonstrating the growing recurring revenue base and retention across BIG’s client base.
- Service revenues (training, forensic consulting) grew 44% to $446,520 (2024 - $310,724), reflecting increased client engagements across law enforcement, financial institutions, and compliance professionals globally.
- BIG’s platforms — BitRank Verified®, QLUE, NFT Explorer, Address Watch, and Entity Explorer - support clients in managing digital asset risk, AML compliance, and blockchain investigations across multiple blockchain protocols in multiple languages.
TerraZero — Immersive Metaverse Experiences
- TerraZero revenues of $118,768 (2024 - $205,033), a decline of 42% year-over-year, reflecting reduced commercial activity as management undertook a strategic review of the business in the second half of 2025. Following an assessment of the metaverse industry landscape, which has experienced slower-than-anticipated adoption broadly, and TerraZero's own growth trajectory, the Company commenced a restructuring and downsizing of TerraZero operations in Fall 2025, intending to reduce the cost base, streamlining the organization, and realigning the business around a more focused and capital-efficient operating model.
- TerraZero’s net loss narrowed to $(4.0M) (2024 - $(20.9M). The improvement is primarily attributable to the absence of the $16.1M non-recurring goodwill impairment charge recognized in 2024; on a normalized basis, TerraZero's operating loss reflects the ongoing cost of platform maintenance, development wind-down activities, and restructuring costs incurred during the year. The cost reduction measures initiated in Fall 2025 are expected to meaningfully reduce TerraZero's cash consumption in 2026.
- Strategic review of TerraZero is ongoing. The Company is evaluating its options with respect to the Intraverse platform and TerraZero's operations, including potential partnerships, alternative monetization models, or other strategic alternatives. While the metaverse sector has not developed at the pace originally anticipated at the time of BIGG's TerraZero acquisition, the Company believes certain elements of TerraZero's technology and IP - including its virtual environment infrastructure and creator toolset - retain strategic value. BIGG will provide further updates as the review progresses.
Selected financial and operating information should be read in conjunction with BIGG's audited consolidated financial statements and related Management's Discussion and Analysis for the year ended December 31, 2025, available at SEDAR+ at www.sedarplus.ca. All financial information in this press release is prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board.
Fraser Matthews, CEO, commented, “2025 was a year of real operational progress for BIGG, with strong results at both Netcoins and Blockchain Intelligence Group, important balance sheet cleanup, and honest decisions made about TerraZero's path forward.
Netcoins processed over $1 billion in crypto trades for the first time - a meaningful milestone that reflects both the platform's growing scale and the elevated cryptocurrency price environment of 2025. While fee rate compression across the industry meant that revenue was broadly flat year-over-year, the underlying platform is healthy: SOC 2 Type 2 certified, operating under a two-year regulatory extension from the BCSC, and approaching operating breakeven on a normalized basis. Resolving the CRA GST matter - recovering $5.2 million and eliminating the $8.5 million liability from our balance sheet - was equally significant.
Blockchain Intelligence Group had its best year in the Company's history with revenue of $2.27 million, exceeding the previous record set in 2022, at a 90% gross margin. That result, achieved through a full crypto market cycle including a significant bear market in 2023, demonstrates the durability of BIG's subscription model and the accelerating global demand for blockchain forensics, AML compliance, and transaction risk-scoring. BIG is a growing, high-margin business and an increasingly valuable asset within the BIGG portfolio.
TerraZero is a different story. The metaverse sector has not developed at the pace the industry anticipated, and TerraZero's growth trajectory reflects that reality. In the second half of 2025, we commenced a strategic review and restructuring of TerraZero - downsizing the organization, reducing costs, and taking a clear-eyed look at how to best realize value from the platform and technology we have built. That review is ongoing, and we will update shareholders as it progresses. The cost reduction measures undertaken will meaningfully reduce TerraZero's cash consumption in 2026, which directly benefits BIGG's overall financial position.
Looking ahead, our priorities are clear: grow Netcoins' active user base and fee revenue, continue scaling BIG's subscription business, and resolve TerraZero's strategic path in a way that is disciplined and value-conscious. BIGG carries no debt, our core operating business – Netcoins - is performing well, and we are managing capital carefully. As digital assets move further into the mainstream - with regulatory clarity improving and institutional adoption accelerating - we believe BIGG is well-positioned to benefit."
Future operating results could also be materially affected by the price of cryptocurrency and the demand (or lack thereof) for cryptocurrency. In addition, BIGG’s past financial performance may not be a reliable indicator of future performance.
On behalf of the Board
Fraser Matthews
CEO
ir@biggdigitalassets.com
778.819.3890
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (TSXV: BIGG; OTCQB: BBKCF; WKN: A2PS9W) owns, operates, and invests in crypto businesses that support a compliant and safe digital asset ecosystem. BIGG’s portfolio includes:
- Netcoins – A regulated Canadian and American crypto trading platform.
- Blockchain Intelligence Group – Blockchain analytics and forensics solutions.
- TerraZero Technologies – Immersive Media, Metaverse and Web3 development.
BIGG believes the future of crypto is secure, compliant, and trusted.
Learn more at www.biggdigitalassets.com.
Netcoins is a crypto trading platform providing secure, regulated access to a growing range of digital assets. With a commitment to transparency and compliance, Netcoins serves both retail and institutional investors, offering a trusted way to buy, sell, stake and custody crypto in Canada. Learn more at www.netcoins.com.
Blockchain Intelligence Group provides digital asset forensics and blockchain analytics solutions supporting AML, investigations, and risk management for cryptocurrency activity. For more information, please visit www.blockchaingroup.io.
TerraZero is an immersive media and Web3 development company focused on creating next-generation virtual experiences for brands. Through its Intraverse platform, TerraZero offers immersive experience creation, advertising, data analytics, and digital events. For more information, please visit https://terrazero.com or contact hello@terrazero.com.
For more information and to register for BIGG’s mailing list, please visit our website at www.biggdigitalassets.com. Or visit SEDAR+ at www.sedarplus.ca.
Future operating results could also be materially affected by the price of cryptocurrency and the demand (or lack thereof) for cryptocurrency. In addition, BIGG’s past financial performance may not be a reliable indicator of future performance.
Forward-Looking Statements
Certain statements in this release constitute “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements include, without limitation, statements regarding: expected business developments; regulatory milestones and outcomes (including Netcoins’ CIRO investment dealer application and dealer membership); the CRA reassessment appeal and any further reduction in assessed amounts; the development and commercialization of BIG and Netcoins products; expected user growth, trading volumes and fee rates; cryptocurrency market trends; and the Company’s ability to fund operations and continue as a going concern.
Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the ability to manage operating expenses, which may adversely affect the Company’s financial condition, the ability to remain competitive as other better financed competitors develop and release competitive products, volatility in the trading price of the common shares of the Company, the demand and pricing of cryptocurrency, the Company’s ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that it will prove to be correct. The securities of BIGG are considered highly speculative due to the nature of BIGG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s website and filings on www.sedarplus.ca. In addition, BIGG’s past performance may not be a reliable indicator of future performance.
Important factors that could cause actual results to differ materially from BIGG’s expectations include consumer sentiment towards BIGG’s products and Cryptocurrency, Blockchain and Metaverse technology generally, technology failures, the lack of demand for the company’s products and services, fluctuations in the price of cryptocurrency, the ability to successfully define, design, and release new products in a timely manner that meet customers’ needs; the ability to attract, retain, and motivate qualified personnel; competition in the industry; the ability to obtain and/or maintain licences, permits and approvals that are necessary to operate the business; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; increase in costs and expenses; the dependence on key personnel; competition; the demand and pricing of cryptocurrencies and NFTs (including digital assets); litigation; security threats, including a loss/theft of NFTs, cryptocurrencies, and other assets; failure of counterparties to perform their contractual obligations; and other factors referenced in the Company’s SEDAR+ filings.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
