Financial Data and Key Metrics Changes - The company reported a net income of $13.5 million, with revenue growing by 48% year over year and payments up by 23% [4][19] - Adjusted EBITDA margin expanded to 11.4%, and the company was cash flow positive [4][21] - Book value increased to $81.6 million, or $3.41 per share, with cash and marketable securities totaling over $50 million [4][22] Business Line Data and Key Metrics Changes - Wealth AUM reached $462 million, up 18% year over year, with wealth revenue increasing by 48% [8][19] - The payments business processed $2.8 billion in volume, flat year over year, but core European business grew by 15% when excluding Canadian operations [17][19] Market Data and Key Metrics Changes - The company is focusing on the European market for payments, where it has seen significant growth [17] - The exit from the Canadian market was strategically aligned with focusing on higher growth opportunities in Europe [17] Company Strategy and Development Direction - The company is building a unified AI-native platform for long-term investors, emphasizing behavioral discipline over trading activity [9][10] - A dual compounding strategy is being implemented, integrating Bitcoin into the product stack across wealth, lending, and payments [5][26] - The company aims to become one of only two regulated platforms in Canada to offer both crypto and equities [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth potential of the business, citing strong unit economics and a robust balance sheet [22][23] - The company is strategically positioned in a market with long-term tailwinds and believes the market cap will close as it continues to execute its strategy [22][23] Other Important Information - The company has expanded its Bitcoin treasury strategy, deploying $1 million into a Bitcoin ETF and planning further investments [6][24] - The company is exploring partnerships to execute its crypto strategy while navigating the regulatory process [35][36] Q&A Session Summary Question: How does the company prioritize Bitcoin accumulation versus reinvestment in business verticals? - Management stated that they plan to do both, using Bitcoin as a hurdle rate for investments in core business [31][32] Question: What is the company's appetite for potential M&A to accelerate growth? - Management is open to strategic M&A opportunities but emphasizes that any acquisition must meet their hurdle rate for returns [33][34] Question: What is the timeline for the crypto trading initiative and required investments? - The regulatory process is expected to take a minimum of six months, with some investment needed but not considered massive due to existing infrastructure [35][36] Question: How does the company view the lending business moving forward? - Management sees lending as a profitable cash flow-generating business that will support growth in wealth and payments, but it is not the primary focus [39][40]