TSX:AXIS

Axis Reports Q3 2024 Financial Results & Updates on Strategic Review Process

Retrieved on: 
Wednesday, May 15, 2024
Fintech, Professional Services, Aftermarket, Automotive, Net, Dragon (magazine), AXIS, Axis, TSX

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the third quarter of fiscal 2024 ending March 31, 2024, and provides a Strategic Review update.

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the third quarter of fiscal 2024 ending March 31, 2024, and provides a Strategic Review update.
  • The $4.5 million in third quarter automotive loan originations were entirely owned and on balance sheet, as Axis did not originate any near prime volumes managed for Westlake Financial Services (“Westlake”).
  • In comparison, the Company recorded $16.7 million Westlake volumes originated in the same quarter of fiscal 2023.
  • Equipment finance origination volumes in the quarter were $16.7 million, a 21.9% decline from $21.3 million in the comparable quarter of 2023.

Axis Initiates a Strategic Review

Retrieved on: 
Tuesday, February 20, 2024
Finance, Aftermarket, Automotive, Banking, Other Automotive, Professional Services, Fintech, General Automotive, AXIS, TSX, Committee, Sale, Axis

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a fintech lender changing the way Canadians finance used vehicles, announces that it has initiated a review of strategic alternatives to maximize shareholder value and in connection therewith has formed a special committee of independent directors (the "Special Committee") to oversee this process.

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a fintech lender changing the way Canadians finance used vehicles, announces that it has initiated a review of strategic alternatives to maximize shareholder value and in connection therewith has formed a special committee of independent directors (the "Special Committee") to oversee this process.
  • In response to incoming expressions of interest, Axis through the Special Committee, will evaluate a range of alternatives to determine the best path forward to maximize value for shareholders.
  • The Board has not set a timetable to complete the strategic review process nor have any decisions been made relating to strategic alternatives at this time.
  • There can be no assurance that the strategic review and the preliminary non-binding discussions will result in any binding offer or any other transaction, or of the pricing of any such possible transaction.

Axis Reports Q2 2024 Financial Results

Retrieved on: 
Wednesday, February 14, 2024
Technology, Payments, Aftermarket, Automotive, Finance, General Automotive, Fintech, Professional Services, Data Management, Fleet Management, Net, AXIS, TSX, Axis, Video game

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the second quarter of fiscal 2024 ending December 31, 2023.

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the second quarter of fiscal 2024 ending December 31, 2023.
  • The $8.2 million in second quarter automotive loan originations were entirely owned and on balance sheet, as Axis did not originate any near prime volumes managed for Westlake Financial Services (“Westlake”).
  • Equipment finance origination volumes in the quarter were $28.2 million, a 3.4% increase from $27.3 million in the comparable quarter of 2023.
  • Revenues for the quarter were $11.1 million, an increase of 4.1% from the second quarter of prior year.

Axis Announces Results of Director Election

Retrieved on: 
Thursday, December 21, 2023
Fintech, Professional Services, Finance, Proxy, TSX, Toronto Stock Exchange, Axis, AXIS

Axis Auto Finance Inc. ("Axis" or the "Company") [ TSX: AXIS ] reports in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated November 10, 2023 for the 2023 Annual General Meeting of Shareholders (the "Meeting") were elected as directors of the Company.

Key Points: 
  • Axis Auto Finance Inc. ("Axis" or the "Company") [ TSX: AXIS ] reports in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated November 10, 2023 for the 2023 Annual General Meeting of Shareholders (the "Meeting") were elected as directors of the Company.
  • A total of 9,485,639 common shares were voted in person or by proxy, representing 7.81% of the outstanding common shares.
  • Shareholders approval all items of business presented at the Meeting, including the election of directors as follows:

Axis Reports Q1 2024 Financial Results

Retrieved on: 
Wednesday, November 15, 2023
Retail, Automotive Manufacturing, Manufacturing, Technology, Finance, Fintech, Professional Services, Online Retail, Other Retail, General Automotive, Transport, Other Technology, Aftermarket, Specialty, Automotive, Logistics, Supply Chain Management, AXIS, Axis, Net, TSX, Net income, Date, Video game, Insurance

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the first quarter of fiscal 2024 ending September 30, 2023.

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the first quarter of fiscal 2024 ending September 30, 2023.
  • The $11.2 million in first quarter automotive loan originations were entirely owned and on balance sheet, as Axis did not originate any near prime volumes managed for Westlake Financial Services (“Westlake”).
  • Equipment finance origination volumes in the quarter were $24.6 million, down 17% from $29.6 million in the comparable quarter of 2023.
  • Axis Reconciliation(3) of Net Income (Loss) to Adjusted Earnings (Loss) – First Quarter & Year to Date September 30, 2023

Axis Reports Q4 and 2023 Fiscal Year Financial Results

Retrieved on: 
Friday, September 15, 2023
Technology, Aftermarket, Payments, Automotive, General Automotive, Automotive Manufacturing, Manufacturing, Data Management, Fleet Management, Goodwill, Axis, TSX, AXIS, Insurance, Video game, Jet fuel, Security (finance), Cryptocurrency, Bank

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the fourth quarter and the 2023 fiscal year.

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the fourth quarter and the 2023 fiscal year.
  • Fiscal 2023 equipment originations of $110.5 million represented a 8% year over year increase from $102.2 million in fiscal 2022.
  • Adjusted loss(1) for fiscal 2023 was ($5.2) million, or ($0.043) per share, as compared to Adjusted earnings of $4.7 million or $0.041 per share for fiscal 2022.
  • The Company recorded a Net loss in fiscal 2023 of ($26.2) million or ($0.215) per share, as compared to net income of $1.5 million or $0.013 per share in fiscal 2022.

Axis Reports Q3 Fiscal 2023 Financial Results

Retrieved on: 
Friday, May 12, 2023
Automotive, General Automotive, Other Retail, Fintech, Transport, Professional Services, Other Automotive, Logistics, Supply Chain Management, Retail, Net, Equipment, Axis, TSX, AXIS, Bank, Casino

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the third quarter of fiscal 2023, ending March 31, 2023.

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the third quarter of fiscal 2023, ending March 31, 2023.
  • For the quarter ending March 31, 2023, auto loan originations were $32.4 million, consisting of $15.8 million owned and on balance sheet, while $16.6 million were volumes managed for Westlake Financial Services (“Westlake”).
  • Axis’ total owned and managed auto portfolio reached a record $266.1 million, consisting of $150.6 million of on balance sheet assets and $115.5 million in Westlake managed assets.
  • In aggregate, the Axis on balance sheet portfolio increased 37% year-over- year, to a record $201.6 million.

Axis Reports Q2 Fiscal 2023 Financial Results

Retrieved on: 
Tuesday, February 14, 2023
Professional Services, Other Automotive, General Automotive, Automotive, Fintech, AXIS, Axis, Equipment, TSX, Cryptocurrency, Bank, Video game

Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the second quarter of fiscal 2023, ending December 31, 2022.

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”) ( TSX: AXIS ), a rapidly growing financial technology company changing the way Canadians purchase and finance used vehicles, today announced financial results for the second quarter of fiscal 2023, ending December 31, 2022.
  • For the quarter ending December 31, 2022, auto loan originations were $35.7 million, consisting of $15.1 million owned and on balance sheet, while $20.6 million were volumes managed for Westlake Financial Services (“Westlake”).
  • Axis’ total owned and managed auto portfolio reached a record $252.2 million, consisting of $142.5 million of on balance sheet assets and $109.7 million in Westlake managed assets.
  • In aggregate, the Axis on balance sheet portfolio increased 35% year-over- year, to a record $187.0 million.

Axis Announces Auto Loan Portfolio Purchase

Retrieved on: 
Thursday, January 26, 2023
Professional Services, Automotive, Other Automotive, Technology, Other Technology, Finance, Fintech, AXIS, Axis, TSX, Vendor, Bank, Portfolio

Axis Auto Finance Inc. (“Axis” or the “Company”), ( TSX: AXIS ) a fintech lender servicing the alternative auto finance market, announced today that it has purchased a portfolio of auto loans (“Portfolio”) from an Ontario based competitor (“Vendor”).

Key Points: 
  • Axis Auto Finance Inc. (“Axis” or the “Company”), ( TSX: AXIS ) a fintech lender servicing the alternative auto finance market, announced today that it has purchased a portfolio of auto loans (“Portfolio”) from an Ontario based competitor (“Vendor”).
  • Funded through cash on closing and a holdback to be released over 36 months subject to portfolio performance.
  • The Portfolio is made up of loan contracts similar in geographical distribution, customer credit profile and vehicle age and mileage to organically originated Axis loans.
  • No purchased loan contracts are over 30 days delinquent, and the portfolio is being purchased at a discount to the customer loan balance.

Axis Announces Results of Director Election

Retrieved on: 
Friday, December 16, 2022
Finance, Professional Services, Aftermarket, Automotive, Fintech, Credit, Baking, Insurance, Axis

Axis is a fintech lender changing the way Canadians buy and finance used vehicles.

Key Points: 
  • Axis is a fintech lender changing the way Canadians buy and finance used vehicles.
  • Through its direct-to-consumer portal, DriveAxis.ca, users can choose their next used vehicle, customize financing terms and get the car delivered from the comfort of their home.
  • In addition, the company continues to grow B2B non-prime auto loan originations by delivering innovative technology solutions and superior service to its Dealer Partners.
  • For our borrowers, an Axis auto loan is an effective steppingstone to credit recovery, with over 70% seeing a significant score improvement in the first 12 months.