BM Technologies (BMTX) reported strong financial results for Q1 2024, with a revenue increase to $16.2 million from $13.4 million in Q1 2023, and a net income of $0.7 million compared to a net loss of $5.0 million in the previous year. Core EBITDA rose from a loss of $1.9 million in Q1 2023 to a positive $1.4 million. The company highlighted growth in interchange and card revenue (15%) and servicing revenue (35%). Operating expenses saw a 21% decline year-over-year. BMTX retained 99% of its Higher Education clients and saw significant engagement in its BaaS vertical. Liquidity remains strong with $14.6 million in cash and no debt.
BM Technologies (NYSE American: BMTX), a major digital banking platform and BaaS provider, will announce its Q1 2024 earnings on May 16, 2024.
The company will host a live webcast to discuss the results at 9:00 am ET. Interested parties can access the webcast through the company's investor relations website.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.