Business
WonderFi Announces Q2 2023 Financial Results
Toronto, Ontario--(Newsfile Corp. - August 11, 2023) - WonderFi Technologies Inc. (TSX: WNDR) (OT...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Announces Q2 2023 Financial ResultsToronto, Ontario--(Newsfile Corp. - August 11, 2023) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the \"Company\" or \"WonderFi\") today announced its second quarter financial results for the period ended June 30, 2023. 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.Second Quarter Highlights:Bitbuy and Coinberry earned $2.9 million in revenue during the quarter.Successful cost-saving initiatives reduced quarter-over-quarter operating expenditures.Bitbuy added Cardano (ADA) to its staking offering and launched OTC Desk supported staking. Highlights Occurring After June 30, 2023:On July 7, 2023, WonderFi closed the acquisitions of Coinsquare Ltd. and CoinSmart Financial Inc.$3.5 million of consolidated revenues earned in July across the Bitbuy, Coinsquare, CoinSmart and SmartPay platforms, exceeding expectations.$735 million in client assets under custody across the Bitbuy, Coinsquare and CoinSmart crypto-trading platforms.Cash and cash equivalents total over $35M across WonderFi and its wholly owned subsidiaries as of July 7, 2023.450% increase in the dollar value of assets staked on the Bitbuy platform since December 31, 2022.SmartPay experienced a 12.5% month-over-month increase in total volumes transacted in July.Access to Financial Statements and Management Discussion and AnalysisComplete financial statements along with related management discussion and analysis, as well as a copy of the business combination agreement and documentation related to the transaction, can be found in the System for Electronic Document Analysis and Retrieval (\"SEDAR\"), the electronic filing system for the disclosure documents of issuers across Canada at https://www.sedarplus.ca.Additional InformationFor additional information, please contact:WonderFi Technologies Inc.Dean Skurka, President and Chief Executive [email protected] Relations Contact: [email protected] Contact:Binu Koshy, Communications [email protected] WONDERFIWonderFi aims to revolutionize access to digital assets through its Canadian-owned and operated cryp...