WonderFi Announces Q4’23 Revenue Surge with a 51.9% Profit Margin (2024)

WonderFi , a leading Canadian conglomerate of digital asset platforms including Bitbuy, Coinsquare, and Smartpay, has announced its Q4’23 revenue at an impressive $12.9M, a 395% increase from the same period last year. The company also boasted a profit margin of 51.9% for the quarter.

The fiscal year 2023 was a landmark period for WonderFi, with the company processing $2.5B in crypto trading volume and $625M in payments volume. Looking ahead, WonderFi has set its sights even higher for Q1’24, with EBITDA projections between $5.5M to $6.5M, cash and digital assets exceeding $50M, and net revenue anticipated to reach $18M to $18.75M in the next quarter.

WonderFi's strategic acquisitions have positioned it as a formidable player in the Canadian crypto market, rivaling giants such as Coinbase and Kraken. A closer look at BitBuy, a Canadian exchange, reveals over 900,000 users, $510M in assets under custody (AUC), and more than $7B in lifetime trading volume.

For a comprehensive overview of WonderFi, explore the detailed report as prepared by The Block's Head of Corporate Development, Gregory L . Gain access to this in-depth analysis with a trial subscription to The Block Pro, your gateway to expert perspectives and cutting-edge research in the blockchain and crypto sectors.