BM Technologies soars after posting Q1 profit

Bm Technologies

16/05/2024 16:35

** Shares of digital banking platform BM Technologies
 BMTX.A  rise as much as 83.8%, last up 52.6% at $2.64
    ** Late on Wednesday, BMTX posted Q1 profit of $0.7 mln or 6
cents/shr, compared to a loss of $5 mln or 43 cents/shr a year
earlier
    ** Q1 operating revenue rose 21% to $16.2 mln
    ** Servicing fees jumped 35% to nearly $9 mln in the
quarter, while interchange and card revenue rose 15% to $3.4 mln
    ** More than 9.9 mln shares have traded, ~1,788 times their
25-day moving average
    ** As of last close, BMTX shares were down 16.6% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))