- Momentum continues in first month of 2025 with estimated revenues and interest income in the range of $7.75 - $8.25 million
- Strong continued performance driven by significant increases in trading volumes, active user growth and new sign ups
- Assets under custody of approximately $2.4 billion as of January 31, 2025, an increase of 14% from prior month
Toronto, Ontario--(Newsfile Corp. - February 19, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today announced certain corporate updates and unaudited estimates for the month of January 2025. All financial references are in Canadian dollars unless otherwise noted.
January 2025 Corporate Updates:
- Estimated revenue and interest income was in the range of $7.75 - $8.25 million, representing an increase of approximately 14% from the Q4 monthly average.
- Bitbuy and Coinsquare facilitated over $543 million in combined trading volumes during the month, representing an increase of approximately 44% from the Q4 monthly average.
- Client assets under custody were approximately $2.4 billion as of January 31, 2025, an increase of approximately 14% from December 31, 2024.
- Bitbuy and Coinsquare had over 127,000 monthly active users in January, an increase of approximately 15% from the Q4 monthly average.
- Bitbuy and Coinsquare had over 20,000 sign-ups in January, representing an increase of approximately 25% from the Q4 monthly average.
During the month of January, approximately 15.9 million warrants issued as part of the Company's January 30th, 2023 brokered private placement were exercised. This resulted in the Company receiving approximately $4.8 million in cash. Approximately 6.6 million warrants were not exercised and expired.
"Coming off a record fourth quarter of 2024, the first month of 2025 demonstrated continued momentum, as WonderFi experienced strong trading volumes and user activity across the Bitbuy and Coinsquare platforms," said Dean Skurka, CEO of WonderFi. "WonderFi's deliberate positioning and investment in its platforms has enabled it to become an important and leading beneficiary of the growth in the adoption of digital assets, and it is reflected in our results."
NASDAQ and Other Corporate Matters
In addition, the Company is pleased to confirm that its application to the NASDAQ stock exchange has been submitted and is currently under review. The Company's recently appointed director, Paul Pathak, is leading and guiding WonderFi's efforts in respect of this application. Mr. Pathak has extensive public market experience, including as a director of public companies in both the U.S. and Canada. Mr. Pathak is also a partner at a Toronto-based law firm with a practice that focuses on corporate, securities, corporate finance, mergers and acquisitions and commercial law.
WonderFi also announced that Noel Biderman, Rob Godfrey, and Igor Gimelshtein have stepped down from the Company's board of directors (the "Board"), effective February 18, 2025. WonderFi is grateful to Noel, Rob and Igor for their contributions to the Board while the Company has achieved record performance milestones.
About WonderFi
WonderFi owns one of the largest regulated crypto trading platforms in Canada and is a global leader in centralized and decentralized financial services and products.
With over $2.4B in client assets under custody, WonderFi's operating businesses are 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 applicable licenses. 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
Media Contact:
Charlie Aikenhead
charlie@wonder.fi
Reconciliation of Non-GAAP Financial Measures
There are measures included in this news release that do not have a standardized meaning under generally accepted accounting principles (GAAP) and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. The Company includes these measures because it believes certain investors use these measures and metrics as a means of assessing financial performance.
We prepare and release quarterly unaudited and annual audited financial statements prepared in accordance with IFRS. We also disclose and discuss certain non-GAAP financial information, used to evaluate our performance, in this and other earnings releases and investor conference calls as a complement to results provided in accordance with IFRS. We believe that current shareholders and potential investors in the Company use non-GAAP financial measures in making investment decisions about the Company and measuring our operational results. These measures are provided as additional information to complement IFRS measures by providing further understanding of the Company's results of operations from management's perspective. They do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. They should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with IFRS. They are used to provide investors with additional insight into the Company's operating performance and thus highlight trends in the Company's business that may not otherwise be apparent when relying solely on IFRS measures.
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. In this news release, forward-looking statements include but are not limited to: statements with respect to our objectives, goals and strategies; the financial results and outlook of the Company; and the successful listing of the Company's common shares on NASDAQ.
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: the ability of the Company to obtain approval from NASDAQ for the listing of its common shares and the timing thereof, including receipt of all regulatory and other approvals or consents that may be required or desirable to complete the proposed listing on NASDAQ; risks relating to the listing of the Company's common shares in the United States including the registration of the common shares with the Securities and Exchange Commission, the NASDAQ listing not providing the Company with broadened access to international investors or enhancing the Company's liquidity; 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.