Earnings DeclineWonderFi Technologies reported 3Q24 revenues of C$7.2M, down 40% sequentially from C$12.0M; adj. EBITDA followed falling to a loss of C$2.8M, down from C$2.4M in 2Q24.
Growth UncertaintyProjections remain difficult, and only a minor adjustment was made to FY25 sales despite the significant potential income from client assets under custody.
Valuation ConcernsThe Company has been trading at a valuation disconnected to fundamentals and direct peers.