Financial Performance - Year-to-Date 2024 Revenue of $42.8 million, up 6% YoY[1] - Q3 2024 Operating revenues totaled $14.1 million, compared to $14.4 million in Q3 2023[4] - Q3 2024 Net loss totaled $(5.0) million, or $(0.42) per diluted share[5] - Total operating revenues for Q3 2024 were $14,077 thousand, a 12.2% increase from Q3 2023's $14,381 thousand[16] - Net loss for Q3 2024 was $4,995 thousand, compared to a net loss of $3,952 thousand in Q3 2023[16] - Core Net Loss for Q3 2024 was $(3,999) thousand, an improvement from $(4,209) thousand in Q3 2023[21] - Core EBITDA for Q3 2024 was $(2,081) thousand, compared to $(789) thousand in Q3 2023[21] - Basic and diluted earnings per common share remained consistent at $(0.42) in Q3 2024 compared to $(0.34) in Q3 2023[16] Acquisition and Equity - BM Technologies to be acquired by First Carolina Bank for $5 per share in cash, with an equity value of approximately $67 million[2] - The acquisition represents a 55% premium to the trading price per share as of October 24, 2024, and a 90% premium to the market as of August 14, 2024[3] Deposits and Account Activity - Average serviced deposits totaled $708 million, and ending serviced deposits totaled $820 million at September 30, 2024[6] - Approximately 125 thousand new account sign-ups in Q3 2024 and 290 thousand new account sign-ups in the first nine months of 2024[6] - Higher Education Organic Deposits totaled $353 million for Q3 2024 and $1,167 million for the nine months ended September 30, 2024[7] - Total Ending Deposits in Q3 2024 were $820 million, a 17% decrease from $994 million in Q3 2023[22] - Organic Deposits in Q3 2024 were $353 million, a 14% decrease from $411 million in Q3 2023[22] Revenue and Expenses - Interchange and card revenue increased to $2,990 thousand in Q3 2024, up 30.5% from $2,292 thousand in Q3 2023[16] - Servicing fees decreased to $7,557 thousand in Q3 2024 from $8,658 thousand in Q3 2023[16] - Technology, communication, and processing expenses decreased to $6,168 thousand in Q3 2024 from $7,826 thousand in Q3 2023[16] - Total operating expenses decreased to $18,166 thousand in Q3 2024 from $18,766 thousand in Q3 2023[16] - Core Operating Expenses excluding Depreciation and Amortization for Q3 2024 were $16,158 thousand, compared to $15,170 thousand in Q3 2023[19] Liquidity and Balance Sheet - Liquidity remained strong at September 30, 2024, with $11.2 million of cash and no debt[5] - Total assets decreased to $43,844 thousand in September 2024 from $51,051 thousand in September 2023[17] - Total current liabilities increased to $22,150 thousand in September 2024 from $15,953 thousand in September 2023[17] - Accumulated deficit grew to $49,894 thousand in September 2024 from $36,853 thousand in September 2023[17] Debit Card and POS Activity - Debit card spend totaled $663 million in Q3 2024 and $2.1 billion in the nine months ended September 30, 2024[6] - Total POS spend in Q3 2024 was $663 million, a 10% decrease from $737 million in Q3 2023[22] Higher Education and FAR Disbursements - Higher Education retention rate remained stable at 99% in Q3 2024[22] - FAR disbursement amount in Q3 2024 was $3.9 billion, an 8% increase from $3.6 billion in Q3 2023[22]

BM Technologies, Inc. (BMTX) came out with a quarterly loss of $0.42 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -133.33%. A quarter ago, it was expected that this company would post a loss of $0.18 per share when it actually produced a loss of $0.41, delivering a surprise of -127.78%.Over the last four quarters, the company ha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-38633 BM Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 82-3410369 (State or other juris ...

NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating BM Technologies, Inc. (NYSE: BMTX), relating to a proposed merger with First Carolina Bank. Under the terms of the agreement, BM Technologies stockholders will receive $5.00 per share in ...

NEW YORK, Nov. 3, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating BM Technologies, Inc. (NYSE: BMTX), relating to a proposed merger with First Carolina Bank. Under the terms of the agreement, BM Technologies stockholders will receive $5.00 per share in cash ...

BM Technologies, Inc. (NYSE:BMTX) Q2 2024 Results Conference Call August 15, 2024 9:00 AM ET Company Participants Brian Prenoveau - Investor Relations Luvleen Sidhu - Co-Founder, Chairman and Chief Executive Officer Ajay Asija - Chief Financial Officer James Donahue - President and Chief Technology Officer Conference Call Participants Michael Grondahl - Northland Securities William Dezellem - Tieton Capital Operator Good morning, everyone, and welcome to the BM Technologies Second Quarter 2024 Earnings Call ...

Exhibit 99.1 BM Technologies, Inc. BM Technologies Reports Second Quarter & First Half 2024 Results First Half 2024 Revenue of $28.7 Million, Up 10% YoY Q2 2024 Interchange and Card Revenue Increased 57% YoY Growth Initiatives Launched with Cash Back Rewards Engine & 15 Identity Verification (IDV) Product Sales YTD Radnor, PA, August 14, 2024 — BM Technologies, Inc. (NYSE American: BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Servic ...

BM Technologies, Inc. (BMTX) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.35 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -127.78%. A quarter ago, it was expected that this company would post a loss of $0.15 per share when it actually produced earnings of $0.06, delivering a surprise of 140%. Over the last four quarters, the company ha ...

Financial Performance - For the three months ended June 30, 2024, the net loss increased to $4.8 million, compared to a net loss of $4.4 million for the same period in 2023, reflecting an increase of $0.4 million [117]. - Operating revenues for Q2 2024 decreased by $0.1 million, or 1%, totaling $12.5 million, while operating expenses decreased by $0.5 million, or 3%, totaling $17.2 million [117]. - The loss from operations for Q2 2024 was $4.7 million, which is a decrease of $0.4 million compared to the loss of $5.0 million in Q2 2023 [117]. - The company reported a loss before income tax expense of $4.8 million for Q2 2024, an increase of $0.4 million from the loss of $4.4 million in Q2 2023 [117]. - For the six months ended June 30, 2024, net loss decreased by $5.3 million to $4.1 million compared to the same period in 2023 [120]. - Basic and diluted earnings (loss) per common share improved to $(0.35) for the six months ended June 30, 2024, compared to $(0.81) in the same period of 2023 [120]. Revenue and Expenses - Operating revenues increased by $2.7 million, or 10%, to $28.7 million for the six months ended June 30, 2024 [122]. - Operating expenses decreased by $4.7 million, or 13%, to $32.7 million for the six months ended June 30, 2024, including one-time costs of $1.6 million related to NextGen implementation [126]. - Interchange and card revenue increased by $1.3 million, or 29%, to $5.7 million for the six months ended June 30, 2024 [122]. - Servicing fees increased by $1.5 million, or 11%, to $15.8 million for the six months ended June 30, 2024 [122]. - Total operating revenues decreased by $0.1 million, or 1%, to $12.5 million for the three months ended June 30, 2024, primarily due to a decrease in servicing fees [121]. Cash Flow and Liquidity - Net cash provided by operating activities increased to $1,656,000 for the six months ended June 30, 2024, compared to a net cash used of $(4,064,000) for the same period in 2023, representing a change of $5,720,000 [131]. - The increase in net cash from operating activities was primarily driven by a $5.3 million increase in net income and a $3.4 million increase from prepaid and other assets [132]. - Cash used in investing activities increased by $0.2 million to $(3,254,000) for the six months ended June 30, 2024, primarily due to increased development of internal use software [133]. - Cash used in financing activities decreased by $2.2 million to $(233,000) for the six months ended June 30, 2024, mainly due to larger tax payments related to share-based compensation awards [133]. - Cash and cash equivalents decreased to $12.5 million at June 30, 2024, from $14.3 million at December 31, 2023 [128]. - Management believes there are sufficient funds available to support ongoing business operations for at least the next 12 months, projecting liquidity of $16.7 million at August 14, 2025 [130]. Accounting and Regulatory Matters - The company is evaluating the impact of new accounting standards that will be effective for annual periods beginning after December 15, 2024 [112]. - The company's effective tax rate was 0.0% for the three months ended June 30, 2024, and (0.4)% for the six months ended June 30, 2024 [127]. - The company does not hold a bank charter and is not subject to direct banking regulation, operating instead as a service provider to partner banks [108]. Customer and Credit Risk - BMTX's primary revenue sources include interchange and card revenue, servicing fees, account fees, and university fees, driven by customer activity [106]. - At June 30, 2024, Customers Bank accounted for 0% of total accounts receivable, down from 16% at December 31, 2023 [134]. - FCB accounted for 46% of total accounts receivable at June 30, 2024, compared to 2% at December 31, 2023 [134]. - A BaaS partner accounted for 20% of total accounts receivable at June 30, 2024, down from 48% at December 31, 2023 [134]. - MasterCard accounted for 19% of total accounts receivable at June 30, 2024, slightly down from 21% at December 31, 2023 [135]. - The company has not experienced losses on cash accounts held with Customers Bank, which may exceed the FDIC coverage limit of $250,000 [135]. - Management believes that the credit risk associated with deposits at Customers Bank is not significant [135].

There are three stages to a golden cross. First, there must be a downtrend in a stock's price that eventually bottoms out. Then, the stock's shorter moving average crosses over its longer moving average, triggering a positive trend reversal. The third stage is when a stock continues the upward momentum to higher prices. The bullish case only gets stronger once investors take into account BMTX's positive eamings outlook for the current quarter. There have been 1 upwards A golden cross is a technical chart pa ...