{"id":959668,"date":"2026-05-07T07:45:03","date_gmt":"2026-05-07T11:45:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/"},"modified":"2026-05-07T07:45:03","modified_gmt":"2026-05-07T11:45:03","slug":"orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/","title":{"rendered":"Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth100 { width: 100% }\n.bwwidth12 { width: 12% }\n.bwwidth16 { width: 16% }\n.bwwidth64 { width: 64% }\n.bwwidth66 { width: 66% }\n.bwwidth67 { width: 67% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released<\/b><\/p>\n<p class=\"bwalignc\"><b><i>Wealth AUM of $495.6M, +14% Year-over-Year<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Wealth Revenue of $3.9M, +12% Year-over-Year<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>EU Payments Volume of $2.7B, +12% Year-over-Year<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Total Cash, Marketable Securities and Investments of $35.4M<\/i><\/b><\/p>\n<p><i>Orion Digital reports in Canadian dollars and in accordance with IFRS<\/i><\/p>\n<p>VANCOUVER, British Columbia&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nOrion Digital Corp. (NASDAQ: ORIO; TSX: ORIO)(\u201cOrion Digital\u201d or the \u201cCompany\u201d) today reported financial results for the first quarter ended March 31, 2026 &#8211; the Company&#8217;s first quarter operating under the Orion Digital name following the rebrand from Mogo Inc. effective December 29, 2025.<\/p>\n<p>\nQ1 2026 results reflect continued execution of Orion Digital&#8217;s strategy of building platforms for the AI-driven financial system: Intelligent Investing in Canadian digital wealth and Carta Worldwide in European payments infrastructure, supported by a consumer lending portfolio that generates operating cash flow to fund investment in the platforms. The quarter saw Adjusted EBITDA<sup>1<\/sup> grow 46% year-over-year and the cash position strengthened by 97% year-over-year, reflecting the deliberate conversion of non-core holdings into operating capital. The Company also recently released the new Intelligent Investing app, an important milestone in the development of its next-generation wealth platform.<\/p>\n<p>\nIn conjunction with Q1 results, the Company is including a KPI scorecard to provide visibility into the operating performance of each platform alongside corporate-level metrics.<\/p>\n<p><b><i><span class=\"bwuline\">Q1 2026 KPI Scorecard<\/span><\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b><i>Q1 2026<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b><i>Q1 2025<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b><i>YoY Change<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Wealth Platform<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAssets under management (at March 31)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$495.6M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$436.3M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+14%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWealth revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$3.9M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$3.5M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+12%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Payments Platform (Carta)<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEU transaction volume<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2.7B<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2.4B<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+12%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted payments revenue<sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2.3M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2.3M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Lending &amp; Other<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash provided by operations before investment in gross loans receivable<sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$4.0M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$3.8M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+6%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Corporate<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash &amp; restricted cash<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$25.6M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$13.0M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+97%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal cash, marketable securities and investments<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$35.4M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$38.8M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(9%)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth64\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted EBITDA<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$1.5M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$1.1M<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth12 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+46%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i><span class=\"bwuline\">Q1 2026 Financial Detail<\/span><\/i><\/b><\/p>\n<p>\nTotal revenue was $16.9 million in Q1 2026 compared to $17.3 million in Q1 2025. Excluding revenue from non-core businesses exited during 2025, adjusted revenue<sup>(1)<\/sup> increased 2% year-over-year, reflecting growth in the Wealth and Payments platforms as well as growth in other subscription-related revenue.<\/p>\n<p>\nSubscription and services revenue totaled $10.5 million, representing 63% of total revenue. Excluding revenue from exited businesses, adjusted subscription and services revenue<sup>(1)<\/sup> increased 7% year-over-year.<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nWealth revenue increased 12% year-over-year to $3.9 million<\/p>\n<\/li>\n<li>\nPayments revenue was $2.3 million, consistent year-over-year on an adjusted basis excluding exited Canadian payments operations<\/p>\n<\/li>\n<li>\nOther subscription and services revenue was $4.3 million, growing 6% year-over-year on an adjusted basis<sup>(1)<\/sup> (excluding the exited legacy institutional brokerage business)<\/p>\n<\/li>\n<\/ul>\n<p>\nGross profit was $11.6 million, with gross margin expanding from 67% to 69%. Adjusted EBITDA was $1.5 million, an increase of 46% from Q1 2025. Cash flow from operating activities before investment in gross loans receivable was $4.0 million, up 6%. Net loss was $5.8 million in Q1 2026 compared to $11.9 million in Q1 2025, an improvement of 51% year-over-year. This improvement primarily reflects a lower non-operating revaluation loss in Q1 2026 compared to Q1 2025.<\/p>\n<p><b><i><span class=\"bwuline\">Management Commentary<\/span><\/i><\/b><\/p>\n<p><b>David Feller, Founder &amp; CEO<\/b><\/p>\n<p>\n&#8220;We recently released the new Intelligent Investing app &#8211; for us, this is the moment several years of platform building become operational. The release brings managed and self-directed investing into the same platform and lays the foundation for what we believe can be the most effective capital allocation system designed for long-term compounding. We view this release not as the completion of the product vision but as the transition from concept to a live operational system serving real users.<\/p>\n<p>\n&#8220;Over the past two decades, much of the retail investment industry has been positioned around themes of democratization, access, and empowerment. The reality of the products has gone in a different direction. Prediction markets sit alongside retirement accounts. Trading interfaces add leverage and frictionless speculation. User experiences are designed for engagement rather than outcome. The product underneath has been hollowed out, and engagement is the only inventory left.<\/p>\n<p>\n&#8220;Intelligent Investing is built around a different thesis. Long-term wealth is created through disciplined capital allocation, not through the frequency of decisions. AI is compressing the information edge that justified the trading-platform business model for two decades, and as that edge approaches zero, the distinction between platforms designed for compounding and platforms designed for engagement becomes the entire game. With this release now live, we are positioned to scale Intelligent Investing and we expect to increase marketing investment in the second half of the year. Phase 2 of the platform rollout is expected to be completed in line with our previously communicated first-half 2026 timeline. We are building for what comes next.&#8221;<\/p>\n<p><b>Greg Feller, President &amp; CFO<\/b><\/p>\n<p>\n&#8220;Q1 demonstrated meaningful operational progress across the business. Adjusted EBITDA grew 46% year-over-year to $1.5 million, with gross margin expanding from 67% to 69% as our revenue mix continues to shift toward higher-margin platform revenue. Wealth revenue grew 12% as Intelligent Investing scaled, European transaction volume at Carta grew 12%, and adjusted other subscription and services revenue grew 6%.<\/p>\n<p>\n&#8220;The cash position strengthened materially in the quarter. The Company holds $35.4 million in total cash, marketable securities and investments at quarter-end. Within that, cash and restricted cash of $25.6 million is up 97% year-over-year primarily reflecting the deliberate conversion of non-core holdings into operating cash, including the monetization of our WonderFi position (WonderFi agreed to be acquired by Robinhood Markets (NASDAQ: HOOD) in 2025). This is one of the most significant balance sheet improvements in the Company&#8217;s recent history, and it positions us with meaningful operating flexibility going forward.\u201d<\/p>\n<p><b><i><span class=\"bwuline\">Wealth Platform (Intelligent Investing)<\/span><\/i><\/b><\/p>\n<p>\nIntelligent Investing represents the largest single growth opportunity in front of the Company. Recently, the Company released the new Intelligent Investing app on the App Store, marking an important milestone in the development of its next-generation wealth platform.<\/p>\n<p>\nThe current release establishes the foundational infrastructure for the broader Intelligent Investing system, including integrated managed and self-directed investing capabilities, enhanced portfolio infrastructure, improved performance and reliability, expanded portfolio insights, and the behavioral framework that will underpin future product development.<\/p>\n<p>\nOver the coming quarters, the Company expects to continue expanding the platform with additional investing, research, calibration, and decision-support capabilities designed to improve long-term investor outcomes and capital allocation behavior.<\/p>\n<p>\nThe Intelligent Investing platform is being built around a fundamentally different philosophy than traditional trading platforms. Rather than optimizing for trading activity and short-term engagement, the Company&#8217;s objective is to build a system designed to improve decision quality, investing discipline, and long-term wealth creation.<\/p>\n<p>\nThe Company expects Phase 2 of the platform rollout, including the continued expansion of self-directed investing functionality and additional core platform capabilities, to be completed in line with previously communicated first-half 2026 expectations.<\/p>\n<p>\nWealth revenue grew 12% year-over-year to $3.9 million in Q1 2026, with assets under management of $495.6 million at March 31, 2026 representing 14% growth year-over-year.<\/p>\n<p>\nThe Company expects to increase marketing investment in Intelligent Investing during the second half of 2026 to support continued platform expansion and adoption.<\/p>\n<p>\nAs Charlie Munger said: &#8220;Show me the incentive, and I will show you the outcome.&#8221;<\/p>\n<p><b><i><span class=\"bwuline\">Payments Platform (Carta Worldwide)<\/span><\/i><\/b><\/p>\n<p>\nEuropean transaction volume in Q1 2026 reached $2.7 billion, growing 12% year-over-year from $2.4 billion in Q1 2025, with full-year 2025 European volume of $11.1 billion. Q1 2026 payments revenue was consistent with prior year on an adjusted basis at $2.3 million.<\/p>\n<p>\nAs payments increasingly become AI-mediated and agent-initiated, the authorization layer Carta operates in is positioned to be one of the most strategically important parts of the payments stack. Carta provides the infrastructure that authorizes transactions, enforces program rules, and connects payment activity to regulated settlement networks, the critical control point for risk, compliance, and program integrity in an increasingly automated payments environment.<\/p>\n<p>\nCarta has a long history of supporting clients that have scaled meaningfully &#8211; UK-based Wise during earlier phases of its growth, and other anchor European programs that continue to operate at meaningful scale today. The Company believes Carta operates with a structurally competitive pricing position in European issuer processing and sees meaningful opportunity to expand both within its existing client base and selectively in new accounts on the basis of that pricing advantage.<\/p>\n<p>\nThe Company is also evaluating stablecoin-based infrastructure for selected cross-border payment flows where it can improve settlement speed, transparency, and cost efficiency, subject to applicable regulatory, partner, and risk-management requirements.<\/p>\n<p><b><i><span class=\"bwuline\">Lending Portfolio \u2014 Cash Flow That Funds Platform Investment<\/span><\/i><\/b><\/p>\n<p>\nThe consumer lending portfolio is managed for cash flow rather than for origination growth. In Q2 2026, the Company is temporarily reducing loan originations by approximately 50% from Q1 levels. The intent is to allow investors to see clearly what the business produces under this scenario. With reduced origination activity, the existing loan book generates cash without the offsetting customer acquisition and incremental provision costs the Company incurs at full deployment pace. This is temporary modulation, not a run rate.<\/p>\n<p>\nThe Company expects originations to step back up during the second half of 2026, with the timing and pace of the ramp managed in line with the Company\u2019s capital allocation priorities. The H2 cash deployment supports both this origination ramp and increased marketing investment in the Intelligent Investing platform.<\/p>\n<p>\nCash flow generated by the lending portfolio is recycled into investment in the Wealth and Payments platforms in accordance with the Company&#8217;s milestone-gated capital allocation framework.<\/p>\n<p><b><i><span class=\"bwuline\">Capital Allocation Framework<\/span><\/i><\/b><\/p>\n<p>\nThe Company manages capital allocation around clear priorities: reinvestment in the Wealth and Payments platforms, opportunistic share repurchases when intrinsic value exceeds market value, and retention of liquidity to support operating flexibility. Approximately 7% of outstanding shares have been retired since June 2022 under the Company&#8217;s buyback program, with a Nasdaq share repurchase authorization of up to $10 million remaining in place. The Company continues to hold a Bitcoin position acquired under its previously announced treasury strategy as a long-term store of value.<\/p>\n<p><b><i><span class=\"bwuline\">2026 Outlook<\/span><\/i><\/b><\/p>\n<p>\nThe outlook that follows constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Orion Digital\u2019s control.<\/p>\n<p>\nWe are providing updated guidance:<\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Q2 2026 Adjusted EBITDA<sup>2<\/sup>:<\/b> $2.5 million to $3.5 million\n<\/li>\n<li><b>Full-year 2026 Adjusted EBITDA<sup>2<\/sup>:<\/b> $6.0 million to $7.0 million\n<\/li>\n<li><b>Consolidated revenue:<\/b> modestly lower year-over-year\n<\/li>\n<\/ul>\n<p>\nWe are reducing Q2 loan originations by approximately 50% from Q1 levels. We want investors to see clearly what the business produces under this scenario. With reduced new origination activity, the existing loan book generates cash without the offsetting customer acquisition and incremental provision costs we incur at full deployment pace. The Q2 Adjusted EBITDA guide reflects that.<\/p>\n<p>\nThis is temporary modulation, not a run rate.<\/p>\n<p>\nWe are guiding second-half Adjusted EBITDA lower than the first half as we ramp up origination volume again and increase marketing investment, including for Intelligent Investing following its Phase 2 roll out.<\/p>\n<p><i><sup>1<\/sup>Non-IFRS measure. For more information regarding our use of these non-IFRS measures and, where applicable, a reconciliation to the most comparable IFRS measure, see \u201cNon-IFRS Financial Measures\u201d in the Company\u2019s MD&amp;A for the period ended March 31, 2026.<\/i><\/p>\n<p><i><sup>2<\/sup>Adjusted EBITDA is a non-IFRS measure. Management has not reconciled these forward-looking non-IFRS measures to their most directly comparable IFRS measure, net loss before tax. This is because the Company cannot predict with reasonable certainty and without unreasonable efforts the ultimate outcome of certain IFRS components of such reconciliations due to market-related assumptions that are not within our control as well as certain legal or advisory costs, tax costs or other costs that may arise. For these reasons, management is unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable IFRS measures.<\/i><\/p>\n<p><b>Conference Call &amp; Webcast<\/b><\/p>\n<p>\nOrion Digital will host a conference call to discuss its Q1 2026 financial results today, Thursday, May 7, 2026 at 11:00 a.m. ET. The call will be hosted by David Feller, Founder and CEO, and Greg Feller, President and CFO. To participate in the call, dial (289) 514-5100 or (800) 717-1738 (International) using conference ID: 63182. The webcast can be accessed at orion-digital.com\/events. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected. A replay is available at (289) 819-1325 or (888) 660-6264 until May 14, 2026; Playback code 63182#.<\/p>\n<p><b>Non-IFRS Financial Measures<\/b><\/p>\n<p><i>This press release makes reference to certain non\u2011IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are provided as additional information to complement the IFRS financial measures contained herein by providing further metrics to understand the Company\u2019s results of operations from management\u2019s perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non\u2011IFRS financial measures, including adjusted revenue, adjusted subscription and services revenue, adjusted payments revenue, adjusted other subscription and services revenue, adjusted EBITDA, adjusted net income (loss) and cash provided by (used in) operating activities before investment in gross loans receivable, to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. We also use non\u2011IFRS financial measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our capital expenditure and working capital requirements. For more information, please see \u201cNon-IFRS Financial Measures\u201d in our Management\u2019s Discussion and Analysis for the period ended March 31, 2026, which is available at <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedarplus.com&amp;esheet=54531022&amp;newsitemid=20260507625735&amp;lan=en-US&amp;anchor=www.sedarplus.com&amp;index=1&amp;md5=239ee6111ffd9016f5a623980f67a486\"><i>www.sedarplus.com<\/i><\/a><i> and at <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54531022&amp;newsitemid=20260507625735&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=2&amp;md5=0d913f9c1391bd9f3930136c0d5139e3\"><i>www.sec.gov<\/i><\/a><i>.<\/i><\/p>\n<p><i>The following tables present a reconciliation of each non-IFRS financial measure to the most comparable IFRS financial measure.<\/i><\/p>\n<p><b><i>Adjusted Total Revenue<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n($000s)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$16,856<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$17,330<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLess:<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLegacy institutional brokerage business revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(591)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCanadian payments revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(249)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n16,856<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n16,490<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i>Adjusted Subscription and Services Revenue<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n($000s)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSubscription and services revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$10,536<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$10,731<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLess:<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLegacy institutional brokerage business revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(591)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCanadian payments revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(249)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted subscription and services revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10,536<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9,891<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i>Adjusted Payments Revenue<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n($000s)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPayments revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2,307<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2,555<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLess:<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCanadian payments revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(249)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth67\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted payments revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,307<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,306<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i>Adjusted other Subscription and Services revenue<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n($000s)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther Subscription and Services revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$4,338<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$4,695<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLess:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLegacy institutional brokerage business revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(591)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted other Subscription and Services revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,338<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,104<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i>Adjusted EBITDA<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n($000s)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet (loss) income<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$(5,812)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$(11,871)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCredit facility interest expense<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,372<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,446<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDebenture and other financing expense<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n746<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n913<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccretion related to debentures<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n131<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n154<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nStock-based compensation<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n229<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n475<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDepreciation and amortization<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,026<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,954<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevaluation loss (gain)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,863<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,662<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther non-operating (income) expense<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n72<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n416<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome tax recovery<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(99)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(99)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted EBITDA<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,528<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1 bwvertalignb bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,050<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><i>Cash Provided by (used in) Operations before Investment in Gross Loans Receivable<\/i><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n($000s)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"2\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>March 31,<br \/>\n<br \/>2025<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash provided by (used in) operating activities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$(419)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$560<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet issuance of loans receivable<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,434)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,210)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash provided by operations before investment in gross loans receivable<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,015<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,770<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p><i>This news release contains \u201cforward-looking statements\u201d within the meaning of applicable securities legislation, including statements regarding the Company\u2019s capital allocation strategy, Orion Digital\u2019s strategic initiatives including in respect of its wealth management and payments platforms and financial outlook for 2026. Forward-looking statements are typically identified by words such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;intend&#8221;, &#8220;potential&#8221;, &#8220;estimate&#8221;, &#8220;budget&#8221;, &#8220;scheduled&#8221;, &#8220;plans&#8221;, &#8220;planned&#8221;, &#8220;forecasts&#8221;, &#8220;goals&#8221; and similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Orion Digital\u2019s growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, many of which are outside of Orion Digital\u2019s control, including the receipt of any required regulatory approval. For a description of the risks associated with Orion Digital\u2019s business please refer to the \u201cRisk Factors\u201d section of Orion Digital\u2019s current annual information form, which is available at <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedarplus.com&amp;esheet=54531022&amp;newsitemid=20260507625735&amp;lan=en-US&amp;anchor=www.sedarplus.com&amp;index=3&amp;md5=3cfa2e40d7d18adfd9468631ab1cafb2\"><i>www.sedarplus.com<\/i><\/a><i> and <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=54531022&amp;newsitemid=20260507625735&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=4&amp;md5=afd04894f7edb56a76edb08e5bcec021\"><i>www.sec.gov<\/i><\/a><i>. Except as required by law, Orion Digital disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.<\/i><\/p>\n<p><b>About Orion Digital Corp.<\/b><\/p>\n<p>\nOrion Digital Corp. (NASDAQ: ORIO; TSX: ORIO) operates digital wealth and payments infrastructure platforms generating recurring subscription and services revenue. Its Intelligent Investing platform provides digital wealth management solutions in Canada, and its wholly owned subsidiary Carta Worldwide provides issuer processing and payments infrastructure across Europe. The Company also operates a consumer lending business with over 20 years of operating history that generates cash flow and is managed with a focus on stability and risk control.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260507625735r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260507625735\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260507625735\/en\/<\/a><\/span><\/p>\n<p>\nInvestor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Investors@oriondigitalcorp.com\">Investors@oriondigitalcorp.com<\/a><\/p>\n<p>\nUS Investor Relations Contact<br \/>\n<br \/>Lytham Partners, LLC<br \/>\n<br \/>Ben Shamsian<br \/>\n<br \/>New York | Phoenix<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:shamsian@lythampartners.com\">shamsian@lythampartners.com<br \/>\n<\/a><br \/>(646) 829-9701<\/p>\n<p><b>KEYWORDS:<\/b> North America Canada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Software Finance Asset Management Artificial Intelligence Professional Services Technology Apps\/Applications Fintech<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released Wealth AUM of $495.6M, +14% Year-over-Year Wealth Revenue of $3.9M, +12% Year-over-Year EU Payments Volume of $2.7B, +12% Year-over-Year Total Cash, Marketable Securities and Investments of $35.4M Orion Digital reports in Canadian dollars and in accordance with IFRS VANCOUVER, British Columbia&#8211;(BUSINESS WIRE)&#8211; Orion Digital Corp. (NASDAQ: ORIO; TSX: ORIO)(\u201cOrion Digital\u201d or the \u201cCompany\u201d) today reported financial results for the first quarter ended March 31, 2026 &#8211; the Company&#8217;s first quarter operating under the Orion Digital name following the rebrand from Mogo Inc. effective December 29, 2025. Q1 2026 results reflect continued execution of Orion Digital&#8217;s strategy of building platforms for the AI-driven financial &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-959668","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released Wealth AUM of $495.6M, +14% Year-over-Year Wealth Revenue of $3.9M, +12% Year-over-Year EU Payments Volume of $2.7B, +12% Year-over-Year Total Cash, Marketable Securities and Investments of $35.4M Orion Digital reports in Canadian dollars and in accordance with IFRS VANCOUVER, British Columbia&#8211;(BUSINESS WIRE)&#8211; Orion Digital Corp. (NASDAQ: ORIO; TSX: ORIO)(\u201cOrion Digital\u201d or the \u201cCompany\u201d) today reported financial results for the first quarter ended March 31, 2026 &#8211; the Company&#8217;s first quarter operating under the Orion Digital name following the rebrand from Mogo Inc. effective December 29, 2025. Q1 2026 results reflect continued execution of Orion Digital&#8217;s strategy of building platforms for the AI-driven financial &hellip; Continue reading &quot;Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-07T11:45:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260507625735r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; 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Orion Digital Corp. (NASDAQ: ORIO; TSX: ORIO)(\u201cOrion Digital\u201d or the \u201cCompany\u201d) today reported financial results for the first quarter ended March 31, 2026 &#8211; the Company&#8217;s first quarter operating under the Orion Digital name following the rebrand from Mogo Inc. effective December 29, 2025. Q1 2026 results reflect continued execution of Orion Digital&#8217;s strategy of building platforms for the AI-driven financial &hellip; Continue reading \"Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; New Intelligent Investing App Released\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/","og_site_name":"Market Newsdesk","article_published_time":"2026-05-07T11:45:03+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260507625735r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"14 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/orion-digital-reports-q1-2026-adjusted-ebitda-46-year-over-year-cash-97-year-over-year-new-intelligent-investing-app-released\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Orion Digital Reports Q1 2026: Adjusted EBITDA +46% Year-over-Year, Cash +97% Year-over-Year; 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