WonderFi Reports First Quarter 2025 Results

Globe and Mail

15-05-2025

Achieved $17.5 million in revenue and interest income during the quarter ended March 31st.
Wholly owned trading platforms Bitbuy and Coinsquare generated over $1.128 billion in trading volumes during the quarter.
Toronto, Ontario--(Newsfile Corp. - May 15, 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 months ended March 31 st, 2025. All financial references are in Canadian dollars unless otherwise noted.
Key First Quarter 2025 Financial Highlights:
Achieved $17.5 million in revenue and interest income in Q1 2025, the third highest revenue quarter in company history.
Wholly owned trading platforms Bitbuy and Coinsquare generated over $1.128 billion in trading volumes during the quarter.
Key Q1 2025 Operational Highlights
Launched a new self-custodial Wonder Wallet alongside a Layer-2 blockchain built on ZKsync, aimed at driving mainstream adoption of on-chain finance and decentralized technologies.
Expanded its educational reach with the launch of Bitcoin.ca, a dedicated Canadian platform designed to provide accessible Bitcoin investor education and onboarding tools.
Acquired Blade Labs, a Solana infrastructure company, to enhance its blockchain capabilities and support the development of scalable decentralized applications.
Subsequent To Q1
On April 10th, 2025, the WonderFi sold 15,917,504 common of Tetra Trust Company for net proceeds of $8.38 million CAD.
On May 13, 2025, WonderFi entered into a definitive agreement (the "Arrangement Agreement") with Robinhood Markets, Inc. ("Robinhood") and a wholly owned subsidiary of Robinhood (the "Purchaser"). Pursuant to the Arrangement Agreement, the Purchaser will acquire all of the issued and outstanding common shares of the Company ("Common Shares") for C$0.36 per Common Share by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). The Arrangement is subject to customary conditions, including securityholder approval, and the approval of the Supreme Court of British Columbia, approval under the Competition Act (Canada) and the approvals of the Canadian Securities Administrators and the Canadian Investment Regulatory Organization. Subject to satisfaction of such conditions, the Arrangement is expected to be completed during the second half of 2025.
"We're extremely pleased with the progress we've made in Q1 2025," said Dean Skurka, President and CEO of WonderFi. "Our strong start to the year has enabled us to stay focused on our strategic initiatives and continue investing in growth."
Access to Financial Statements and Management Discussion and Analysis
Complete financial statements along with related management discussion and analysis 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 www.sedarplus.ca.
About WonderFi
WonderFi is a global leader in centralized and decentralized financial services and products.
With over $1.7 billion in client assets under custody, WonderFi's regulated trading platforms 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 registrations. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, Smartpay and Bitcoin.ca.
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.
Additional Information
For additional information, please contact:
Media / Investor Relations
Charlie Aikenhead
[e-mail]
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, including, specifically, the entering into of definitive agreements in respect of the partnership, the receipt of regulatory approvals in respect thereof, the timing of launch and the expected benefits of the partnership. 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.
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 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, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and securityholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions for the completion of the Arrangement, and other expectations and assumptions concerning the proposed Arrangement. The anticipated dates indicated may change for a number of reasons, including the necessary regulatory, securityholder and court approvals, the necessity to extend the time limits for satisfying the other conditions for the completion of the proposed Arrangement. 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 failure of the parties to obtain the necessary securityholder, regulatory and court approvals or to otherwise satisfy the conditions for the completion of the Arrangement in a timely manner. Failure to obtain the necessary securityholder, regulatory and court approvals, or the failure of the parties to otherwise satisfy the conditions for the completion of the Arrangement or to complete the Arrangement, may result in the Arrangement not being completed on the proposed terms or at all. 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 March 31, 2025, 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. All financial amounts referenced herein are in Canadian dollars unless otherwise expressly identified.