MineHub to Develop Integrated Digital Solution for Iron Ore Market
Rhea-AI Summary
PROG Holdings (NYSE:PRG) reported strong Q2 2025 financial results with consolidated revenues of $604.7 million, up 2.1% year-over-year. The company achieved net earnings of $38.5 million and Adjusted EBITDA of $73.5 million.
Key highlights include diluted EPS of $0.95 and non-GAAP diluted EPS of $1.02, up 10.9% from 2024. Progressive Leasing's GMV was $413.9 million, while Four Technologies showed impressive GMV growth of 166.5%. The company ended Q2 with $222.0 million in cash and updated its 2025 outlook, raising the low end of revenue and earnings guidance.
Positive
- Consolidated revenues increased 2.1% year-over-year to $604.7 million
- Net earnings grew to $38.5 million from $33.8 million in prior year
- Four Technologies achieved 166.5% GMV growth and second consecutive quarter of profitability
- Non-GAAP diluted EPS increased 10.9% to $1.02
- Strong cash position of $222.0 million at quarter end
- Company raised low end of 2025 guidance for revenues and earnings
Negative
- Progressive Leasing GMV declined 8.9% year-over-year to $413.9 million
- Loss of important retail partner to liquidation
- Vive segment projected to report losses before taxes of $3.5-5.0 million for 2025
- Other segment expected to post losses before taxes of $7.5-9.0 million for 2025
MineHub partners with a Singapore-based company to develop an innovative digital solution for iron ore, unlocking operational efficiencies, risk mitigation, and financing opportunities through integrated trade data.
Expansion into iron ore establishes MineHub as the data hub for critical commodities, aggregating and harmonizing information across trade execution, logistics, and finance.
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2025) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company"), a leading provider of digital supply chain solutions for the commodity markets, has signed a Memorandum of Understanding with a Singapore-based company operating a digital matching platform that provides an end-to-end solution for physical iron ore trading, from execution through to Letter of Credit settlement.
By eliminating manual documentation bottlenecks, the integrated solution will enhance operational efficiency and unlock greater liquidity and transparency. This collaboration underscores MineHub's strategic expansion into new commodity verticals and reinforces its role as a central hub for digitizing trade execution. MineHub's purpose-built platform for the mining and metals supply chain is becoming the trusted system of record for global commodity trade execution. This expansion into iron ore marks a significant step in the company's mission to digitize and connect the entire mining and metals ecosystem.
Andrea Aranguren, CEO of MineHub, commented: "Iron ore is a critical global commodity, yet its supply chains remain largely manual. This partnership accelerates MineHub's expansion into this market, leveraging our proven platform to digitize workflows end-to-end. By serving as the central hub integrating trade execution, logistics, and financing, we are delivering the infrastructure needed to modernize this sector-just as we've done for copper and aluminum."
Iron Ore Market
As the primary raw material for nearly all steel production globally, iron ore is a raw material essential for construction, automative, and infrastructure development. The iron ore market is expected to grow from
Unlocking Value in Iron Ore Supply Chains
The solution will integrate MineHub's platform with a trade execution platform, trade finance tools, and digital bill of lading providers. As the central portal for data integration, MineHub's Platform will enable:
Operational efficiencies through real-time data-sharing and automation of contract enforcement.
Enhanced risk management via real-time visibility into trade execution and shipment tracking. Multi-party validation for data and automated data capture will also minimize risk for all stakeholders.
More efficient financing by digitally connecting transactional data directly to financiers sooner than is possible during traditional financing processes and by streamlining Letter of Credit management.
MineHub's Singapore-based partner brings connectivity to major iron ore producers, traders and steel mills actively seeking modern digital infrastructure to streamline their operations.
Strategic Expansion and Next Steps
The collaboration aligns with MineHub's focus on broadening its commodity reach and digitizing high-value commodity markets. Iron ore's inclusion on the platform enables MineHub to:
Broaden Market Reach: Serve producers, traders, and buyers adopting digital tools for efficiency and transparency.
Strengthen MineHub's Ecosystem: Position the platform for end-to-end trade execution across diverse commodities.
Create New Revenue Streams: Drive growth through subscriptions and transaction-based models.
The parties are working to finalize a commercial agreement to operationalize the solution.
About MineHub
MineHub is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient and sustainable. MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
Andrea Aranguren
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@minehub.com or visit our website at www.minehub.com. Tel: (778) 373-3747
Cautionary Note Regarding Forward-Looking Statements
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.
This news release contains statements that are considered "forward-looking information" within the meaning of applicable Canadian securities legislation ("forward-looking statements") with respect to MineHub including, but not limited to, statements with respect to MineHub's future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or financial markets, changes in laws or regulations that could have an impact on the Company's operations, dependence on its key management personnel and market competition. Other risk factors are identified in the Company's management discussion and analysis, available on the Company's SEDAR+ profile at www.sedarplus.ca. There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub's management on the date the statements are made. However, except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266641
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