WonderFi Reports Q3 2025 Results

Executive Summary

• WonderFi reported Q3 2025 revenue of approximately C$11.7 million, a 47.5% increase versus the same quarter last year.
• Adjusted EBITDA turned positive for Q3 2025 after a loss in Q3 2024, driven by strong trading volume from six new assets on Bitbuy and Coinsquare.
• Robinhood Markets exercised its right to extend the outside date for completing its indirect acquisition of WonderFi to Dec 19 2025; parties are discussing further extension, with closing now expected in H1 2026.

Key Details

• Revenue & Income: C$11.7 million total revenue and interest income for Q3 2025.
• Growth Rate: 47.5% year‑over‑year increase versus Q3 2024.
• Client Assets: Bitbuy and Coinsquare held >C$2.3 billion in client assets under custody as of Sept 30 2025.
• Adjusted EBITDA: Positive adjusted EBITDA achieved after removing share‑based payments, depreciation & amortization; prior period (Q3 2024) reported a loss.
• New Tradeable Assets: Six new assets launched on Bitbuy and Coinsquare generated an incremental C$13.7 million in trading volume during the quarter.
• Acquisition Extension: On Nov 10 2025, Robinhood exercised its right to extend the outside date for completing its indirect acquisition of all WonderFi common shares to Dec 19 2025 (original arrangement dated May 12 2025).
• Closing Outlook: Integration enhancements and regulatory approvals require additional work; parties anticipate closing in the first half of 2026, subject to satisfaction or waiver of remaining conditions.
• Potential Further Extension: Discussions underway on amending the Arrangement Agreement to further extend the outside date, pending final agreement.

Notable Quotes

(No direct quotes were included in the release.)