{"id":1017695,"date":"2026-11-05T11:21:27","date_gmt":"2026-11-05T16:21:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q3-2026-results-raises-full-year-adjusted-ebitda-guidance-to-7-8-million\/"},"modified":"2026-11-05T11:21:27","modified_gmt":"2026-11-05T16:21:27","slug":"orion-digital-reports-q3-2026-results-raises-full-year-adjusted-ebitda-guidance-to-7-8-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q3-2026-results-raises-full-year-adjusted-ebitda-guidance-to-7-8-million\/","title":{"rendered":"Orion Digital Reports Q3 2026 Results; Raises Full-Year Adjusted EBITDA Guidance to $7\u20138 Million"},"content":{"rendered":"

<\/p>\n

Orion Digital Reports Q3 2026 Results; Raises Full-Year Adjusted EBITDA Guidance to $7\u20138 Million<\/b><\/p>\n

European Payments Volume of $3.0 Billion, up 7% Year-over-Year<\/i><\/p>\n

Revenue from Wealth and Payments Grows 14% and Represents 41% of Total Revenue<\/i><\/p>\n

Q3 Operating Cash Flow of $2.5 Million<\/i><\/p>\n

Orion Digital reports in Canadian dollars and in accordance with IFRS Accounting Standards.<\/i><\/p>\n

VANCOUVER, British Columbia–(BUSINESS WIRE<\/a>)–
\nOrion Digital Corp. (NASDAQ: ORIO; TSX: ORIO) (\u201cOrion Digital\u201d or the \u201cCompany\u201d) today reported financial results for the third quarter ended September 30, 2026.<\/p>\n

\nOrion Digital operates a Canadian consumer financial services platform encompassing its Intelligent Investing wealth platform and Mogo Lending, alongside Carta Worldwide, its European payments infrastructure business. Intelligent Investing is the Company\u2019s primary growth focus, while Mogo Lending is managed for risk-adjusted returns and capital efficiency.<\/p>\n

\nFor the first nine months of 2026, Adjusted EBITDA\u00b9 increased 35% to $6.7 million, compared with $5.0 million in the prior year. Adjusted EBITDA was $1.9 million in Q3 2026, compared with $2.0 million in Q3 2025 and $3.3 million in Q2 2026. The sequential decrease primarily reflected higher loan-loss provisions, including an update to estimated recovery-rate assumptions, and higher technology and development expenses.<\/p>\n

\nTotal revenue was $17.0 million in Q3 2026, consistent with the prior year, as 14% year-over-year growth in combined Wealth and Payments revenue more than offset a 9% decline in interest revenue. Wealth and Payments generated $6.9 million in revenue and represented 41% of consolidated revenue, compared with 36% a year earlier, reflecting the Company’s continued shift toward a greater contribution from its growth platforms.<\/p>\n

\nDuring Q3, the Company generated $2.5 million of cash from operating activities. In financing activities, the Company repaid approximately $4.3 million of debt, including $3.7 million under its lending credit facility and $0.6 million of debentures. Cash declined $2.7 million during the quarter, primarily reflecting these repayments and other capital allocation activities.<\/p>\n

\nOrion Digital ended September 30, 2026 with $30.9 million in cash, restricted cash, marketable securities and investments, while continuing to reduce debt.<\/p>\n

\nNet loss was $3.1 million, compared with $4.5 million in Q3 2025.<\/p>\n

Management Commentary<\/span><\/b><\/p>\n

David Feller, Founder and CEO<\/b><\/p>\n

\n\u201cFollowing the July commercial launch of IntelligentInvesting.ai, our focus is on expanding the platform’s AI capabilities and preparing for a broader marketing campaign in early 2027. We believe AI will fundamentally change how individuals research investments and make capital-allocation decisions, and we’re building Intelligent Investing to connect that intelligence to investors’ portfolios and help them make better long-term investment decisions.\u201d<\/p>\n

Greg Feller, President and CFO<\/b><\/p>\n

\n\u201cAdjusted EBITDA increased 35% to $6.7 million for the first nine months of 2026. In the third quarter, we generated $2.5 million of operating cash flow and repaid $4.3 million of debt. Based on our year-to-date performance and current expectations for Q4, we are increasing our full-year Adjusted EBITDA guidance to $7.0 million to $8.0 million.<\/p>\n

\nOur focus remains on maintaining liquidity, generating sustainable consolidated cash flow and deploying capital where expected returns justify the investment.\u201d<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Q3 2026 KPI Scorecard<\/span><\/b><\/p>\n<\/td>\n

\n\n<\/tr>\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n\n<\/tr>\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

Q3 2026<\/b><\/p>\n<\/td>\n

\n

Q3 2025<\/b><\/p>\n<\/td>\n

\n

YoY Change<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Wealth Platform<\/b><\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAssets under administration (at September 30)<\/p>\n<\/td>\n

\n

\n$549.3M<\/p>\n<\/td>\n

\n

\n$497.6M<\/p>\n<\/td>\n

\n

\n10%<\/p>\n<\/td>\n<\/tr>\n

\n

\nWealth revenue<\/p>\n<\/td>\n

\n

\n$4.1M<\/p>\n<\/td>\n

\n

\n$3.6M<\/p>\n<\/td>\n

\n

\n13%<\/p>\n<\/td>\n<\/tr>\n

\n

Payments Platform<\/b><\/p>\n<\/td>\n

\n\n\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nEuropean transaction volume<\/p>\n<\/td>\n

\n

\n$3.0B<\/p>\n<\/td>\n

\n

\n$2.8B<\/p>\n<\/td>\n

\n

\n7%<\/p>\n<\/td>\n<\/tr>\n

\n

\nPayments revenue<\/p>\n<\/td>\n

\n

\n$2.8M<\/p>\n<\/td>\n

\n

\n$2.4M<\/p>\n<\/td>\n

\n

\n16%<\/p>\n<\/td>\n<\/tr>\n

\n

Lending<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nInterest revenue<\/p>\n<\/td>\n

\n

\n$6.0M<\/p>\n<\/td>\n

\n

\n$6.6M<\/p>\n<\/td>\n

\n

\n(9%)<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet loans receivable<\/p>\n<\/td>\n

\n

\n$55.8M<\/p>\n<\/td>\n

\n

\n$59.8M<\/p>\n<\/td>\n

\n

\n(7%)<\/p>\n<\/td>\n<\/tr>\n

\n

Corporate<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA\u00b9<\/p>\n<\/td>\n

\n

\n$1.9M<\/p>\n<\/td>\n

\n

\n$2.0M<\/p>\n<\/td>\n

\n

\n(4%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Wealth Platform \u2014 Intelligent Investing<\/span><\/b><\/p>\n

\nWealth revenue increased 13% year-over-year to $4.1 million in Q3 2026, while assets under administration in Orion Digital\u2019s established Canadian Wealth business increased 10% to $549.3 million at September 30, 2026.<\/p>\n

\nOn July 27, 2026, Orion launched IntelligentInvesting.ai, beginning the commercialization of its new investing platform. Management believes that as AI makes sophisticated investment research and analysis more widely available, differentiated value will increasingly come from connecting that intelligence to investors\u2019 portfolios, capital-allocation decisions and outcomes.<\/p>\n

\nIntelligent Investing is designed to address this opportunity by combining AI-powered research with structured investment decision-making, including tools to document investment theses, benchmark performance and evaluate decisions over time. The platform is being developed to improve long-term investment decision quality rather than encourage more trading.<\/p>\n

\nThe platform is being commercialized from Orion Digital\u2019s established Canadian Wealth business, which provides the regulatory, operating and technology infrastructure supporting the rollout. The reported $549.3 million of assets under administration reflects the broader Wealth business and should not be interpreted as adoption of the newly launched experience.<\/p>\n

\nFollowing the July launch, management is focused on expanding the platform’s AI capabilities, evaluating customer adoption and engagement, and preparing for a broader marketing campaign in early 2027.<\/p>\n

\nWealth remains Orion Digital\u2019s principal area of growth investment.<\/p>\n

Payments Platform \u2014 Carta Worldwide<\/span><\/b><\/p>\n

\nPayments revenue increased 16% year-over-year to $2.8 million in Q3 2026, compared with $2.4 million in Q3 2025.<\/p>\n

\nEuropean transaction volume increased 7% to $3.0 billion, compared with $2.8 billion in the prior-year quarter. For the first nine months of 2026, European transaction volume increased 6% to $8.5 billion.<\/p>\n

\nCarta provides payments infrastructure supporting programs processing more than $11 billion of annual payment volume and reaching more than four million end users across Europe through its clients.<\/p>\n

\nFollowing the completion of its multi-year technology modernization, Carta is focused on resuming commercial growth in 2027.<\/p>\n

Mogo Lending \u2014 Return-Based Capital Deployment<\/span><\/b><\/p>\n

\nMogo is Orion Digital’s Canadian consumer lending business, with more than two decades of operating history and underwriting experience.<\/p>\n

\nManagement maintained a conservative approach to lending during 2026, reflecting its assessment of the Canadian economic outlook, credit risk and expected lending returns. This included deliberately reducing originations relative to historical levels and prioritizing risk-adjusted returns, capital payback and liquidity over portfolio growth.<\/p>\n

\nInterest revenue declined 9% year-over-year to $6.0 million in Q3 2026, reflecting lower loan receivables balances and the impact of the lower statutory annual interest rate that came into effect January 1, 2025.<\/p>\n

\nGross loans receivable declined to $72.6 million at September 30, 2026, from $75.4 million at June 30, 2026. The related lending credit facility declined to $46.1 million from $49.8 million. During the quarter, the Company repaid $3.7 million under the facility, including $2.0 million associated with an amendment adjusting advance rates on certain loan receivables. The repayments are consistent with management’s continued focus on disciplined capital deployment and a more conservative approach to financing the lending portfolio.<\/p>\n

\nAny future increases in lending deployment will be governed by expected risk-adjusted returns, management’s latest assessment of economic conditions and portfolio credit performance, together with capital payback and liquidity requirements.<\/p>\n

Cash Generation and Capital Allocation<\/span><\/b><\/p>\n

\nCore operating cash generation1<\/sup> was $5.4 million in Q3 2026, an increase of 23% from the prior-year period. Core operating cash generation is a supplemental measure used to assess cash generated by Orion Digital\u2019s operating businesses before growth investment, lending deployment and corporate financing activities.<\/p>\n

\nDuring the quarter, the Company invested $0.9 million in growth and platform development, deployed $2.2 million of net cash in its lending portfolio and repaid $3.7 million under its lending credit facility. After portfolio investments and monetizations, corporate financing and shareholder capital allocation activities (including share repurchases), cash decreased by approximately $2.7 million to $20.5 million.<\/p>\n

\nManagement evaluates material uses of capital based on expected returns, capital efficiency, payback, liquidity requirements, downside risk and long-term per-share value.<\/p>\n

Liquidity and Balance Sheet<\/span><\/b><\/p>\n

\nAt September 30, 2026, Orion Digital held:<\/p>\n