Full-Year 2024 total revenue and interest income projected to be between $61.5-$62 million
Year-end 2024 cash and digital assets expected to be $48.5 million
Expecting positive EBITDA for the fourth quarter of 2024.
Toronto, Ontario--(Newsfile Corp. - January 14, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today provided a corporate update and unaudited fourth-quarter financial guidance for the period ended Dec. 31, 2024. All financial references are in Canadian dollars unless otherwise noted.
Q4 Financial Guidance:
- Total revenue and interest income are expected to be in the range of $20.5 - $21.0 million, setting a new quarterly record, and representing an increase of 156% from the prior quarter.
- WonderFi expects to generate positive EBITDA in the range of $4.2 - $4.5 million in Q4, representing a 21-22% EBITDA margin.
- Total cash and digital assets are expected to be more than $48.5 million as of Dec. 31, 2024, representing an increase of 30% compared to Dec. 31, 2023.
Q4 Corporate Update:
- Bitbuy and Coinsquare, WonderFi's two wholly owned and operated cryptocurrency trading platforms, facilitated more than $1.1 billion in combined trading volumes during the quarter.
- Client assets under custody were approximately $2.1 Billion as of Dec. 31, 2024, an increase of approximately 110% from a year earlier.
- Bitbuy and Coinsquare clients staked approximately $108 million worth of cryptocurrencies as of Dec. 31, 2024.
- The Company repurchased and cancelled 7.3 million common shares at an average price of approximately $0.20 under its normal course issuer bid program.
"Our expected record revenue in Q4 is a testament to the dedication of our team, the strength of our strategy and our ability to execute on operational efficiencies as we continue to optimize and innovate our business," said WonderFi CEO Dean Skurka. "Our growth demonstrates our ability to deliver value to our customers and shareholders, while solidifying our position as a leader in the rapidly growing digital asset industry. We are excited to build on our momentum heading into 2025 and look forward to what will no doubt be another exciting year for the Company."
About WonderFi
WonderFi is one of the largest regulated crypto trading platforms in Canada and a global leader in centralized and decentralized financial services and products.
With over $2.1 billion in assets under custody, WonderFi is well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications.
Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining registrations. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, SmartPay and Tetra Trust.
As the world continues to move on-chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space.
For more information, visit www.wonder.fi
Investor Contact:
Charlie Aikenhead
invest@wonder.fi
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the beliefs of WonderFi Technologies Inc. ("WonderFi" or the "Company") regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such "could", "intend", "expect", "believe", "will", "projected", "planned", "estimated", "soon", "potential", "anticipate" or variations of such words.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking financial information and statements are the following: taxation, controls or regulations and/or changes in the administration of laws, policies and practices and political or economic developments in Canada and other jurisdictions in which the Company carries on business or in which the Company may carry on business in the future; and material adverse changes in general economic, business and political conditions, including changes in the financial markets and compliance with extensive government regulation; decisions to modify, pause or discontinue certain treasury management strategies; the Company's ability to provide a competitive service within the regulated crypto asset trading platform industry; the Company's ability to manage its capital and non-capital expenses . These risks are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and the Company's future decisions and actions will depend on management's assessment of all information at the relevant time. A more fulsome description of risk factors that may impact business, financial condition and results of operation with respect to WonderFi is set out in its management's discussion and analysis and financial statements for the period ended September 30, 2024, available on its SEDAR+ profile at www.sedarplus.ca.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237096
SOURCE: WonderFi Technologies Inc.
