BM Technologies reports Q4/FY 2023 revenue $55.3M, net loss $17.3M; expects positive Core EBITDA in 2024

BM Technologies, Inc.

2024-Q1 EPS reported $0.06 revenue$16,181,000

Full year 2023 GAAP operating revenue $55.3M, down 34% YoY from $83.6M; net loss $17.3M ($1.50/diluted share).
Q4 2023 net loss $4.0M ($0.34/diluted); Core EBITDA loss improved sequentially to -$0.8M from -$1.9M in Q4 2022.
Transfer of Higher Education deposits to FCB in Dec 2023 expected to increase annualized interchange revenue by $4.4M.
Profit Enhancement Plan reduced Core Operating Expenses by $9.5M in 2023; additional savings expected in 2024.
Company expects return to positive Core EBITDA in 2024 driven by higher revenues and cost controls.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BM Technologies, Inc. reported three and twelve months ended December 31, 2023 results: revenue $14.9 million and $55.3 million, net income net loss totaled $(4.0) million, or $(0.34) per diluted share. Net loss for the twelve months ended December 31, 2023 to, EPS $(0.34) per diluted share.

Period: three and twelve months ended December 31, 2023
Revenue: $14.9 million and $55.3 million
Net income: net loss totaled $(4.0) million, or $(0.34) per diluted share. Net loss for the twelve months ended December 31, 2023 to
EPS: $(0.34) per diluted share
Result: reported results

Exact text from the filing

PRESS RELEASE DATED APRIL 3, 2024 Exhibit 99.1 BM Technologies, Inc. BM Technologies Reports Fourth Quarter & Full Year 2023 Results Full year 2023 Revenue $55.3 Million Transfer of Higher Education Deposits to First Carolina Bank ( “ FCB ” ) in December Increased Annualized Interchange Fees by 20 Basis Points Radnor, PA, April 03, 2024 — BM

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Source: SEC EDGAR

accession 0001213900-24-029820

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