WonderFi Provides Q1 2024 Financial Guidance

Rhea-AI Summary

WonderFi Technologies Inc. expects positive EBITDA of $5.5 to $6.5 million for the quarter as a result of significant net revenue growth and strong cash and digital assets balance. The company's Q1 financial guidance includes a 42% increase in net revenue compared to Q4 2023, with over $50.0 million in cash and digital assets as of March 31, 2024.

Positive

• Positive EBITDA of $5.5 to $6.5 million expected for the quarter.
• Net revenue in the range of $18 - $18.75 million, representing a 42% increase compared to Q4 2023.
• Cash and digital assets balance exceeding $50.0 million as of March 31, 2024.
• Combined client assets under custody (AUC) for Bitbuy and Coinsquare surpassing $1.5 billion.
• Bitbuy and Coinsquare facilitating over $1 billion in combined trading volumes during the quarter.
• SmartPay processing over $140 million in crypto payment volumes during the quarter.
• Approximately $95 million in crypto staked by Bitbuy and Coinsquare as of March 31, 2024.

Negative

• None.

• Expects Positive EBITDA of $5.5 to $6.5 Million for the Quarter as the Value From the Transformational Three-Way Merger Continues to be Unlocked

• Strong Sequential Net Revenue Growth in Q1 2024 a Result of Significant Operating Leverage to Cryptocurrency Adoption and Demand
   
• Total cash, digital assets of over $50.0 million as of March 31, 2024

Toronto, Ontario--(Newsfile Corp. - April 3, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today announced certain corporate updates and unaudited fourth quarter financial estimates for the period ended March 31, 2024. All financial references are in Canadian dollars unless otherwise noted.

This news release constitutes "a designated news release" for the purposes of the Company's prospectus supplement dated December 23, 2022, to its short form base shelf prospectus dated September 7, 2022.

Q1 Financial Guidance:

• Net revenue in the range of $18 - $18.75 million. At the mid-point, this represents an increase of 42% compared to Q4 2023.
• Cash and digital assets balance increased to more than $50.0 million as of March 31, 2024.
• WonderFi expects to generate positive EBITDA of $5.5-$6.5 million, and operating earnings of $3 - $4 million on a consolidated-basis for the quarter.
• As of March 31, 2024, combined client assets under custody (AUC) for Bitbuy and Coinsquare exceed $1.5 B.

Q1 Corporate Updates:

• Bitbuy and Coinsquare facilitated over $1 billion in combined trading volumes during the quarter.
• SmartPay processed over $140 million in crypto payment volumes during the quarter.
• Bitbuy and Coinsquare had approximately $95 million in crypto staked as of March 31, 2024.

"WonderFi continues to create exceptional value for shareholders through ongoing growth initiatives and operational efficiencies. The Company's ability to successfully integrate five leading businesses through consolidation and streamlining of operations, allowed us to execute our plan amid an improved backdrop for digital assets during the first quarter. In less than a year following our transformational merger, we have been able to see the results of our vision to combine prominent digital assets businesses into a market leader in the digital asset industry," commented Dean Skurka, President and Chief Executive Officer of WonderFi.

"Achieving positive non-adjusted EBITDA during the previous two quarters marks a pivotal milestone for WonderFi and a reflection of the efforts of the entire WonderFi team to continue generating growth and profitability for shareholders. For Q1 2024, WonderFi achieved another quarter of increased total revenue and finance income, further reflecting the strength of our business and operating platforms," added Mr. Skurka.

About WonderFi

WonderFi owns and operates leading digital asset businesses in Canada. WonderFi is the holding company for Bitbuy and Coinsquare, two of Canada's largest crypto trading platforms and SmartPay, a crypto payments processing platform.

With a collective user base of over 1.6 million registered Canadians and a combined assets under custody exceeding $1 billion, WonderFi serves one of the largest crypto investor communities in Canada.

For more information, visit www.wonder.fi.

Media / Investor Relations
Charlie Aikenhead
Invest@wonder.fi

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204075

FAQ

What is WonderFi Technologies Inc.'s expected EBITDA range for the quarter?

WonderFi Technologies Inc. expects a positive EBITDA of $5.5 to $6.5 million for the quarter.

What is the net revenue range projected for Q1 2024?

The net revenue range projected for Q1 2024 is $18 - $18.75 million, indicating a 42% increase compared to Q4 2023.

How much cash and digital assets does WonderFi Technologies Inc. hold as of March 31, 2024?

WonderFi Technologies Inc. holds over $50.0 million in cash and digital assets as of March 31, 2024.

What is the total client assets under custody (AUC) for Bitbuy and Coinsquare?

The total client assets under custody (AUC) for Bitbuy and Coinsquare exceed $1.5 billion.

How much combined trading volumes were facilitated by Bitbuy and Coinsquare during the quarter?

Bitbuy and Coinsquare facilitated over $1 billion in combined trading volumes during the quarter.

How much crypto payment volumes did SmartPay process during the quarter?

SmartPay processed over $140 million in crypto payment volumes during the quarter.

How much crypto was staked by Bitbuy and Coinsquare as of March 31, 2024?

Bitbuy and Coinsquare had approximately $95 million in crypto staked as of March 31, 2024.