Business
WonderFi Reports Record Fourth Quarter and Full Year 2024 Results
Record yearly revenue and interest income of $62.1 million, an increase of 108% compared with Fis...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Reports Record Fourth Quarter and Full Year 2024 ResultsRecord yearly revenue and interest income of $62.1 million, an increase of 108% compared with Fiscal Year 2023Processed over $3.57 billion in crypto trading volumes in Fiscal Year 2024, an increase of 28% compared with Fiscal Year 2023Achieved positive adjusted EBITDA of $12 million in 2024Toronto, Ontario--(Newsfile Corp. - March 31, 2025) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (\"WonderFi\" or the \"Company\"), a global leader in centralized and decentralized financial services and products, today announced its financial results for the three and twelve months ended December 31, 2024. All financial references are in Canadian dollars unless otherwise noted.\"WonderFi delivered another year of record financial performance in 2024, reinforcing our position as Canada's leading crypto platform. Over the past two years, we have achieved tremendous growth, scaling our platform, increasing trading volumes, and expanding our assets under custody-all while continuing to provide Canadians with a trusted and secure way to access crypto assets. Our financial results this year are a testament to our vision and execution,\" said Dean Skurka, CEO of WonderFi.\"Our journey to becoming Canada's largest and most trusted crypto ecosystem truly began just over three years ago with the acquisition of Bitbuy. Since then, we have accelerated our growth by bringing in Coinsquare and other key acquisitions, strengthening our platform and expanding our reach through our great brands. As we move into 2025, WonderFi is well-positioned to build on this momentum, continue innovating, and drive long-term value for our shareholders,\" added Mr. Skurka.Key Financial Highlights for 2024:Bitbuy, Coinsquare, and SmartPay generated combined revenue and interest income of $62.1 million in 2024, representing a 108% increase compared with Fiscal Year 2023.Cash and digital assets balance increased to $48.7 million as of December 31, 2024, reflecting a 31% increase compared with Fiscal Year 2023.Generated adjusted EBITDA of $12 million in 2024, compared to a negative $4.8 million in 2023, marking an increase of 345% year over year.Operating Highlights for Fiscal Year 2024:WonderFi's wholly owned platforms processed over $3.57 billion in crypto trading volumes during Fiscal Y...