WonderFi Technologies (WNDR) Q3 2024 earnings summary

Executive summary

• Revenue and interest income reached $41 million for the nine months ended September 30, 2024, up 153% year-over-year.

• Bitbuy and Coinsquare facilitated $2.3 billion in crypto trading volumes during the same period, a 212% increase year-over-year.

• Cash and digital assets totaled $42 million as of September 30, 2024.

• Strategic initiatives included launching WonderFi Labs and Bitbuy APAC, and a Bitcoin/Ethereum treasury program.

Financial highlights

• Q3'24 revenue and interest income was $8.2 million; nine-month total was $41 million.

• Cash and digital assets increased to $42 million from $37.3 million at year-end 2023.

• Private investments totaled $9 million, including stakes in Tetra Trust and crypto-native funds.

• Bitbuy and Coinsquare generated $35 million in consolidated revenues and $14.6 million in adjusted EBITDA for the nine months.

• Corporate and administrative expenses reduced by 22% year-over-year for the nine-month period.

Outlook and guidance

• Management plans to leverage recent investments to accelerate growth and launch new products in 2025.

• Focus remains on expanding global customer base and increasing trading volumes in target markets.