BM Technologies, Inc. (NYSE:BMTX) Q1 2024 Earnings Conference Call May 16, 2024 9:00 AM ET Company Participants Brian Prenoveau - IR Luvleen Sidhu - CEO Ajay Asija - CFO Jamie Donahue - President and Chief Technology Officer Conference Call Participants Greg Pendy - Chardan Mike Grondahl - Northland Securities Bill DeZellem - Titan Capital Operator Good morning everyone, and welcome to the BM Technologies First Quarter and 2024 Earnings Call. Please note that this event is being recorded. Following manageme ...

Revenue Performance - For the three months ended March 31, 2024, the company recognized $2.6 million in revenues from Customers Bank, a decrease from $12.4 million in the same period of 2023[182]. - The company reported net revenues of $12.5 million from First Carolina Bank for the three months ended March 31, 2024, compared to zero in the same period of 2023[184]. - The company has four primary revenue sources: interchange and card revenue, servicing fees, account fees, and university fees, primarily driven by customer activity[164]. Financial Position - Cash and cash equivalents were reported at $14.63 million as of March 31, 2024[176]. - Accounts receivable, net, amounted to $6.875 million as of March 31, 2024[176]. - The company has deferred revenue recognized over the service period on a straight-line basis or when contractual obligations are satisfied[165]. Workforce and Restructuring - The company completed a workforce reduction of approximately 3 employees in Q1 2024, with restructuring expenses totaling less than $0.1 million, down from $0.8 million for 60 employees in Q1 2023[185]. Risk Factors - The company is exposed to concentration of credit risk primarily from accounts receivable from Customers Bank and other partners, with minimal historical losses reported[202]. - The company has established relationships with Partner Banks, which are related parties, impacting its financial operations[176]. Earnings Calculations - The company’s performance shares and warrants were excluded from diluted earnings calculations due to conditions not being met as of March 31, 2024[168].

Table of Contents NOTE 7 — COMMITMENTS AND CONTINGENCIES Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable, and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the consolidated financial statements that are not currently accrued for. However, in light of the uncertainties inherent in these matte ...

Jamie Donahue, President and Chief Technology Officer stated, "The Company is actively executing on its technology transformation plan to accelerate growth opportunities and enhance the competitive advantage that already exists in our unique position in the higher education market. We have rewritten and unified our platform infrastructure to seamlessly power both our student disbursement and BaaS experiences going forward. This investment in modernization will reduce operational costs and fraud risk, accele ...

BM Technologies, Inc. (NYSE:BMTX) Q3 2023 Earnings Conference Call November 20, 2023 5:00 PM ET Company Participants Brian Prenoveau - IR Luvleen Sidhu - CEO Jim Dullinger - CFO Conference Call Participants Greg Pendy - Chardan Mike Grondahl - Northland Securities Bill Dezellem - Tieton Capital Management Operator Good afternoon, everyone, and welcome to the BM Technologies Third Quarter 2023 Earnings Call. Please note that this event is being recorded. [Operator Instructions] At this time, I'd like to turn ...

201 King of Prussia Road, Suite 650 Wayne, Pennsylvania 19087 (Address of Principal Executive) (Zip-Code) | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|----------------------|-------|---------------------| | ASSETS | | September 30, 2023 | | December 31, 2022 | | C ...

BM Technologies, Inc. (NYSE:BMTX) Q2 2023 Earnings Conference Call August 22, 2023 5:00 PM ET Company Participants Brian Prenoveau - Investor Relations Luvleen Sidhu - Chief Executive Officer Jim Dullinger - Chief Financial Officer Raj Singh - Co-Chief Executive Officer Conference Call Participants Mike Grondahl - Northland Securities Greg Pendy - Chardan Bill Dezellem - Tieton Capital Operator Good afternoon, everyone, and welcome to the BM Technologies Second Quarter 2023 Earnings Call. Please note that t ...

201 King of Prussia Road, Suite 650 Wayne, Pennsylvania 19087 (Address of Principal Executive) (Zip-Code) (Former name, former address, and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such r ...

BM Technologies, Inc. (NYSE:BMTX) Q1 2023 Earnings Conference Call May 22, 2023 5:00 PM ET Company Participants Brian Prenoveau - IR Luvleen Sidhu - CEO Jim Dullinger - CFO Raj Singh - Co-CEO Conference Call Participants Brian Dobson - Chardan Capital Markets Mike Grondahl - Northland Securities Bill Dezellem - Tieton Capital Operator Good afternoon, everyone, and welcome to the BM Technologies First Quarter 2023 Earnings Call. Please note that this event is being recorded. [Operator Instructions] At this t ...

Basis of Presentation Management has performed this required assessment as of May 22, 2023 including consideration of the effect of the DPSA Second Amendment and the 2023 Deposit Servicing Agreement with Customers Bank, and believes there is sufficient funds available to support its ongoing business operations and continue as a going concern for at least the next 12 months with projected liquidity of $21.5 million at May 22, 2024. These interim unaudited consolidated financial statements should be read in c ...