WonderFi Technologies this week announced corporate updates alongside financial estimates for 2024.
The Vancouver-born web3 firm operates an array of regulated Canadian crypto trading platforms and other digital asset businesses, including Bitbuy, Coinsquare and Coinsmart, and Bitvo.
During WonderFi’s last fiscal quarter, Bitbuy and Coinsquare facilitated $760 Million in combined trading volumes during the quarter, including over $45 Million in trading volumes generated from Bitvo client accounts purchased in the fourth quarter of 2023.
With more than $1 billion in combined client assets under custody, WonderFi achieved cash-flow positive operations on a consolidated basis during the quarter, according to a statement released by the firm.
“Achieving positive non-adjusted EBITDA during the quarter is a pivotal milestone for WonderFi and a reflection of the efforts of the entire WonderFi team,” stated Dean Skurka, Chief Executive Officer of WonderFi. “In less than six months following our transformational merger, we have been able to realize our vision of combining prominent digital assets businesses into a leader in the digital asset industry.”
Moving forward, WonderFi expects to achieve for its next fiscal quarter revenue of approximately $13 Million.
At the mid-point, this represents an increase of 29% compared to Q3 2023, according to the company.
“The WonderFi team has continued to execute our plan against an improved backdrop for digital assets during the fourth quarter,” Shurka said.
WonderFi serves more than 1.6 million registered Canadians.
“We continue to provide investors with diversified exposure across the digital asset ecosystem,” said Shurka.
Shares in WNDR are up roughly 50% within the past year.
“We believe WonderFi is well positioned to benefit from long-term growth trends in the industry and to build value for shareholders over time,” stated Greg Feller, CFO of Vancouver fintech Mogo, which owns a 13% stake in WonderFi, citing “an improving environment for digital assets.”
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