BM Technologies, Inc., through its fintech banking platform, provides digital banking and disbursement services to consumers and students in the United States. It facilitates deposits and banking products and services between customers and FDIC-insured partner banks. The company provides access to a suite of banking products, including checking, savings, personal loans, credit cards, and student refinancing. BM Technologies, Inc. was formerly known as Megalith Financial Acquisition Corp. The company was founded in 2014 and is based in Wayne, Pennsylvania.
IPO Year: 2018
Exchange: AMEX
Website: ir.bmtxinc.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
11/23/2021 | $21.00 | Buy | Chardan Capital |
Revenues and EBITDA Reflect Significant Improvement Year over YearQ1 2024 Revenue of $16.2 Million, Net Income of $0.7 MillionQ1 2024 Core EBITDA of $1.4 Million RADNOR, PA / ACCESSWIRE / May 15, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three months ended March 31, 2024.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "The first quarter of 2024 marked an important turning point in our company's evolution. The hard work of 2023 has begun to pay off as we posted positive net income of $0.7 million and Co
RADNOR, PA / ACCESSWIRE / May 13, 2024 / BM Technologies, Inc. (NYSE:BMTX) (the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, will host a live webcast to discuss its first quarter 2024 earnings on Thursday May 16, 2024 at 9:00am ET.The live webcast of the call can be accessed at 1Q24 Earnings Webcastas well as on the company's investor relations website at BMTX IR Website.About BM Technologies, Inc.BM Technologies, Inc. (NYSE:BMTX) - formerly known as BankMobile - is among the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, providing access to checking and savings accounts, and fi
Full year 2023 Revenue $55.3 MillionTransfer of Higher Education Deposits to First Carolina Bank ("FCB") in December Increased Annualized Interchange Fees by 20 Basis PointsRADNOR, PA / ACCESSWIRE / April 3, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and twelve months ended December 31, 2023.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "In December of 2023, we completed the transfer of the Higher Education customer deposits to our new partner bank FCB. Effective with the transfer, we are earnin
This press release corrects the date of the earnings release and call to April 3, 2024RADNOR, PA / ACCESSWIRE / April 1, 2024 / BM Technologies, Inc. (NYSE:BMTX) (the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, will host a live webcast to discuss its fourth quarter and full year 2023 earnings on Wednesday April 3, 2024 at 5:00pm ET.The live webcast of the call can be accessed at 4Q23 Webcast Link as well as on the company's investor relations website at https://ir.bmtxinc.com/events-and-presentations/events-calendar/default.aspxAbout BM Technologies, Inc.BM Technologies, Inc. (NYSE:BMTX) - formerly known as BankMobile - i
RADNOR, PA / ACCESSWIRE / April 1, 2024 / BM Technologies, Inc. (NYSE:BMTX) (the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, will host a live webcast to discuss its fourth quarter and full year 2023 earnings on Wednesday April 1, 2024 at 5:00pm ET.The live webcast of the call can be accessed at 4Q23 Webcast Link as well as on the company's investor relations website at https://ir.bmtxinc.com/events-and-presentations/events-calendar/default.aspxAbout BM Technologies, Inc.BM Technologies, Inc. (NYSE:BMTX) - formerly known as BankMobile - is among the largest digital banking platforms and Banking-as-a-Service (BaaS) provider
Ajay Asija will assume the role on April 1, 2024RADNOR, PA / ACCESSWIRE / February 7, 2024 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced the appointment of Ajay Asija as Chief Financial Officer, effective April 1, 2024. Mr. Asija will succeed James (Jim) Dullinger, who has held the role since January 2023 and will remain with the company until March 31, 2024.Luvleen Sidhu, Chair, Chief Executive Officer, and Founder of BM Technologies said, "We are delighted to welcome Ajay to BM Technologies. Ajay's extensive fintech banking experience and industry knowledge will position us well as we focus on gr
BMTX Commends Colleges and Universities that Achieve Campus Efficiency (ACE), Security, and Student ServiceRADNOR, PA / ACCESSWIRE / January 25, 2024 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced 189 institutions as recipients of its seventh annual ACE Award. The award recognizes BankMobile Disbursements partner colleges and universities that Achieve Campus Efficiency (ACE). Eighty-one schools are partnership winners, recognized for their long-time partnership, and 37 schools were recognized for their partnership and efficient disbursement programs. Out of the 189 colleges and universities award re
Year-to-Date 2023 Revenue $41.2 MillionTransfer of Higher Education Deposits to First Carolina Bank ("FCB") in December Expected to Result in Increased RevenueRADNOR, PA / ACCESSWIRE / November 20, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and nine months ended September 30, 2023.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "We have begun the process of transferring customer deposits in our Higher Education vertical to our new partner bank, FCB, which is a Durbin-exempt bank. Deposit holder no
RADNOR, PA / ACCESSWIRE / November 14, 2023 / BM Technologies, Inc. (NYSE:BMTX) (the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, will host a live webcast to discuss its third quarter 2023 earnings on Monday November 20, 2023 at 5:00pm ET.The live webcast of the call can be accessed at 3Q23 Webcast Link well as on the company's investor relations website at https://ir.bmtxinc.com/events-and-presentations/events-calendar/default.aspxAbout BM Technologies, Inc.BM Technologies, Inc. (NYSE:BMTX) - formerly known as BankMobile - is among the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the coun
Rachel Labi, Co-Founder of Building Financial Freedom (B.F.F), Recognized for Empowering Youth and Young Adults Worldwide with Financial LiteracyRADNOR, PA / ACCESSWIRE / October 31, 2023 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced that it selected Purdue University student, Rachel Labi as the recipient of its eighth Annual Financial Empowerment Scholarship out of over 700 applicants. BMTX has an Annual Financial Empowerment Scholarship provided by the BankMobile Foundation. The scholarship was started in 2015 and rewards students who understand the important role that financial empowerment play
Chardan Capital analyst Brian Dobson maintains BM Technologies (AMEX:BMTX) with a Buy and maintains $8 price target.
U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite falling around 0.1% on Thursday. The Dow traded up 0.01% to 39,912.06 while the NASDAQ fell 0.10% to 16,726.17. The S&P 500 also fell, dropping, 0.04% to 5,306.04. Check This Out: Oklo Is ‘Too Risky,’ Jim Cramer Says: Buy This General Electric Spinoff Instead Leading and Lagging SectorsConsumer staples shares rose by 1.7% on Thursday. In trading on Thursday, materials shares fell by 0.5%. Top Headline Deere & Co (NYSE:DE) reported upbeat second-quarter earnings, but lowered its net income 2024 outlook. The company's net sales and revenue declined 12% year-over-year to $15.235 billion, beating
Shares of Fluent Inc (NASDAQ:FLNT) fell sharply during Thursday's session after posting weaker-than-expected quarterly results. Fluent posted adjusted loss of 30 cents per share, versus market expectations for a loss of 10 cents per share. The company's quarterly sales came in at $65.983 million missing estimates of $66.433 million, according to data from Benzinga Pro. Fluent shares dipped 12.6% to $3.47 on Thursday. Here are some other stocks moving in today’s mid-day session. Gainers Lucy Scientific Discovery Inc. (NASDAQ:LSDI) shares jumped 239% to $1.75. Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) jumped 100% to $0.1196 after jumping around 34% on Wednesday.
BM Technologies (AMEX:BMTX) reported quarterly earnings of $0.01 per share which beat the analyst consensus estimate of $(0.21) by 104.76 percent. This is a 102.33 percent increase over losses of $(0.43) per share from the same period last year. The company reported quarterly sales of $16.18 million which beat the analyst consensus estimate of $15.06 million by 7.44 percent. This is a 20.00 percent increase over sales of $13.48 million the same period last year.
Chardan Capital analyst Brian Dobson maintains BM Technologies (AMEX:BMTX) with a Buy and maintains $8 price target.
Chardan Capital analyst Brian Dobson maintains BM Technologies (AMEX:BMTX) with a Buy and maintains $8 price target.
Growth Initiatives and OutlookThe Company anticipates revenue growth in 2024 driven by investments in the Higher Education vertical and the full year effect of Durbin-exempt interchange rates on the majority of serviced deposit account holder's debit card spend. The Company also expects a return to positive Core EBITDA1 in 2024 based on these higher revenues and stricter cost controls implemented as part of the Company's PEP.Technology Initiatives and OutlookJamie 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 un
BM Technologies (AMEX:BMTX) reported quarterly losses of $(0.28) per share which missed the analyst consensus estimate of $(0.25) by 12 percent. This is a 21.74 percent decrease over losses of $(0.23) per share from the same period last year. The company reported quarterly sales of $14.86 million which missed the analyst consensus estimate of $14.95 million by 0.61 percent. This is a 5.26 percent decrease over sales of $15.68 million the same period last year.
Companies Reporting Before The Bell • Acuity Brands (NYSE:AYI) is projected to report quarterly earnings at $3.25 per share on revenue of $907.75 million. • Icecure Medical (NASDAQ:ICCM) is estimated to report quarterly loss at $0.32 per share on revenue of $3.14 million. • Quhuo (NASDAQ:QH) is expected to report earnings for its Fiscal Year 2023. • BiomX (AMEX:PHGE) is estimated to report earnings for its fourth quarter. Companies Reporting After The Bell • BM Technologies (AMEX:BMTX) is projected to report quarterly loss at $0.25 per share on revenue of $14.95 million. • Novagold Resources (AMEX:NG) is expected to report earnings for its first quarter. • Levi Strauss (NYSE:LEVI) is
Chardan Capital initiated coverage of BM Technologies with a rating of Buy and set a new price target of $21.00
Maxim Group initiated coverage of BM Technologies with a rating of Buy and set a new price target of $25.00
Ajay Asija will assume the role on April 1, 2024RADNOR, PA / ACCESSWIRE / February 7, 2024 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced the appointment of Ajay Asija as Chief Financial Officer, effective April 1, 2024. Mr. Asija will succeed James (Jim) Dullinger, who has held the role since January 2023 and will remain with the company until March 31, 2024.Luvleen Sidhu, Chair, Chief Executive Officer, and Founder of BM Technologies said, "We are delighted to welcome Ajay to BM Technologies. Ajay's extensive fintech banking experience and industry knowledge will position us well as we focus on gr
RADNOR, PA / ACCESSWIRE / July 20, 2023 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, is thrilled to announce the appointment of a distinguished marketing industry veteran, Michael Pavone, as the newest member of its Board of Directors. With an award-winning track record and 30 years of experience in the digital marketing space, Pavone brings a wealth of knowledge and a fresh perspective to the BMTX organization.Pavone is the CEO of Pavone Marketing Group, Inc., a holding company that comprises five marketing units, a data and analytics company, and a design company. Michael's strong marketing background will help
Launch of Targeted Plan to Improve Performance with approximately $15 Million of Expected 2023 Cost SavingsJamie Donahue Elected President and James Dullinger Elected Chief Financial OfficerInvestment Banking Veteran Raj Singh Joins Board of DirectorsRADNOR, PA / ACCESSWIRE / January 30, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced today a series of actions being taken to streamline its operations, strengthen its management team, position the Company for future growth, and drive long-term shareholder value.Profit Enhancement PlanIn
Radnor, PA, July 29, 2022 (GLOBE NEWSWIRE) -- BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, announced the expansion of its senior leadership team that includes Jason Swartley as General Counsel, Amanda Meyer as SVP, People, and Steve Lenderman as SVP and Executive of Global Loss Prevention & Fraud Management. Swartley manages all corporate legal matters, including litigation, contracts, third party risk management, and enterprise ethics. Meyer leads the strategic people roadmap for BM Technologies (BMTX), including business and people transformation, and team building and integration. In his role, Lenderman is
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Revenues and EBITDA Reflect Significant Improvement Year over YearQ1 2024 Revenue of $16.2 Million, Net Income of $0.7 MillionQ1 2024 Core EBITDA of $1.4 Million RADNOR, PA / ACCESSWIRE / May 15, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three months ended March 31, 2024.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "The first quarter of 2024 marked an important turning point in our company's evolution. The hard work of 2023 has begun to pay off as we posted positive net income of $0.7 million and Co
Full year 2023 Revenue $55.3 MillionTransfer of Higher Education Deposits to First Carolina Bank ("FCB") in December Increased Annualized Interchange Fees by 20 Basis PointsRADNOR, PA / ACCESSWIRE / April 3, 2024 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and twelve months ended December 31, 2023.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "In December of 2023, we completed the transfer of the Higher Education customer deposits to our new partner bank FCB. Effective with the transfer, we are earnin
Year-to-Date 2023 Revenue $41.2 MillionTransfer of Higher Education Deposits to First Carolina Bank ("FCB") in December Expected to Result in Increased RevenueRADNOR, PA / ACCESSWIRE / November 20, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and nine months ended September 30, 2023.Luvleen Sidhu, BMTX's Chair, CEO, and Founder, stated, "We have begun the process of transferring customer deposits in our Higher Education vertical to our new partner bank, FCB, which is a Durbin-exempt bank. Deposit holder no
RADNOR, PA / ACCESSWIRE / August 22, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, today reported results for the three and six months ended June 30, 2023.Luvleen Sidhu, BMTX's Chair, CEO and Founder, stated, "We are pleased to have entered into an amendment of the Deposit Servicing Agreement with FCB that will allow us to initiate the process of transferring our Higher Education deposits from Customers Bank to FCB with targeted completion no later than the end of 2023. Had a Durbin-exempt bank partnership been in place during the second quart
Q1 2023 Revenue $13.5 million Continued Progress on Profit Enhancement Plan ("PEP") Reiterates 2023 Financial Outlook RADNOR, Pa., May 22, 2023 /PRNewswire/ -- BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and banking-as-a-service ("BaaS") providers in the country, today reported results for the first quarter ended March 31, 2023. "Q1 2023 tracked very closely to our expectations," said Luvleen Sidhu, BMTX's Chair, CEO, and Founder. "First quarter results were temporarily negatively impacted by the loss of Durbin-exempt interchange until we transition our Higher Education business to a new sponsor bank. Our
Full Year 2022 Revenue $83.6 million; Net Loss $0.8 million, Core EBITDA1 $14.5 millionNew Bank Partnership with First Carolina Bank ("FCB") for Higher Education BusinessNew Two Year Servicing Agreement for Existing and Largest BaaS PartnershipProfit Enhancement Plan ("PEP") with $15 million of Targeted 2023 Cost SavingsRADNOR, PA / ACCESSWIRE / March 27, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies", "BMTX", "we", or the "Company"), one of the largest digital banking platforms and banking-as-a-service ("BaaS") providers in the country, today reported results for the three and twelve months ended December 31, 2022."We begin 2023 with a new bank partnership with FCB for our High
Raj Singh, a Veteran Financial Services Executive, Named as Co-CEOJamie Donahue Promoted to President and Jim Dullinger Promoted to Chief Financial OfficerRADNOR, PA / ACCESSWIRE / March 27, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, announced today the appointment of Raj Singh as Co-CEO."The Board of Directors and I are delighted to welcome Raj as my partner and Co-CEO as we position BMTX for our next phase of growth," said Luvleen Sidhu, Chair, CEO, and Founder of BMTX. Sidhu continued, "Raj has been a valued partner for nearly three years, advising us
Two Year Extension of Existing and Largest BaaS PartnershipNew Bank Partnership with First Carolina Bank for Higher Education BusinessNew Agreement with Customers Bank for Existing and Largest BaaS PartnershipRADNOR, PA / ACCESSWIRE / March 22, 2023 / BM Technologies, Inc. (NYSE:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced that the Company has executed a new Deposit Processing Services Agreement (DPSA) with First Carolina Bank for the Higher Education business and a new DPSA with Customers Bank for our existing and largest BaaS partnership deposits. Both bank partnership agreements include variable rate servicing fees which wi
RADNOR, PA / ACCESSWIRE / February 23, 2023 / BM Technologies, Inc. (NYSE:BMTX) ("BM Technologies," "BMTX," "we," or the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers in the country, announced today that it will release its financial results for the fourth quarter and fiscal year ending December 31, 2022, after the market closes on Monday, March 27, 2023. BMTX management will discuss these results and other information regarding the Company during a conference call and audio webcast on Monday, March 27, 2023 at 5:00 p.m. ET.The audio webcast can be accessed at Q4 Webcast Link well as on the Company's investor relations website at https://i
RADNOR, Pa., May 16, 2022 (GLOBE NEWSWIRE) -- BM Technologies, Inc. (NYSE:BMTX) (the "Company"), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today reported preliminary first quarter results for the three months ended March 31, 2022. The company expects to report EBITDA[1] in excess of $8 million for the quarter, which exceeds the consensus estimate, and strong revenues of approximately $25 million. The Company recently executed a term sheet with a significant new BaaS partner and expects to finalize a contract over the next approximately 90 days and provide details over the next few quarters. PRELIMINARY FIRST QUARTER FINANCIAL AND BUSINESS