ORIO

MKT CAP:$25M

Orion Digital Corp.

Market Cap

$25M

Technology·Software - Infrastructure·🇨🇦 Canada·NASDAQ

Technology·Software Infra·🇨🇦·NASDAQ

Stock Price

$1.07+$0.06 (+5.94%)

Apr 22, 2026

Company Details

Orion Digital Corp. operates as a financial technology company in Canada, Europe, and internationally. The company's digital solutions to help its members improve their path to wealth creation and financial freedom. It also provides MogoTra...

CEO

David Marshall Feller

IPO Date

May 16, 2017

Website

orion-digital.com

Key Metrics TTM

Revenue

$51M

-2.5% YoY

Net Income

$5M

EPS (Diluted)

$0.17

Free Cash Flow

-$3M

Revenue / Share

$2.12

Gross Margin

67.8%

Operating Margin

-3.9%

Net Margin

10.9%

FCF Margin

-5.0%

P/S

0.5x

P/E

4.6x

Earnings Reports

Q4 2025

May 7, 2026

PENDING

FY 2025

Dec 30, 2025

$50M-4.7%EPS -$0.26

Q3 2025

Sep 30, 2025

$12M-4.1%EPS -$0.14

Q2 2025

Jun 30, 2025

$12M-3.1%EPS $0.41

Q1 2025

Mar 31, 2025

$13M-4.3%EPS -$0.36

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$15M	$11M	-$24M
Q1 22	$14M	$10M	-$9M
Q2 22	$13M	$10M	-$10M
Q3 22	$12M	$9M	-$7M
Q4 22	$13M	$9M	-$2M
Q1 23	$12M	$9M	-$291.3K
Q2 23	$12M	$10M	-$683.5K
Q3 23	$12M	$9M	-$5M
Q4 23	$13M	$10M	$10M
Q1 24	$13M	$10M	-$591.3K
Q2 24	$13M	$10M	-$7M
Q3 24	$13M	$9M	-$290.9K
Q4 24	$13M	$8M	-$90.6K
Q1 25	$13M	$8M	-$1M
Q2 25	$12M	$9M	-$440.7K
Q3 25	$12M	$9M	-$422.4K

Valuation

Quarter	P/S	P/E
Q4 21	0.5x	—
Q1 22	0.5x	—
Q2 22	0.5x	—
Q3 22	0.5x	—
Q4 22	0.5x	—
Q1 23	0.5x	—
Q2 23	0.5x	—
Q3 23	0.5x	—
Q4 23	0.5x	—
Q1 24	0.5x	—
Q2 24	0.5x	—
Q3 24	0.5x	—
Q4 24	0.5x	—
Q1 25	0.5x	—
Q2 25	0.5x	8.8x
Q3 25	0.5x	4.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$1M	-$1M
Q1 22	-$6M	-$6M
Q2 22	-$2M	-$2M
Q3 22	-$899.6K	-$945.9K
Q4 22	$438.9K	$402.8K
Q1 23	-$425.2K	-$431.1K
Q2 23	$2M	$2M
Q3 23	$2M	$2M
Q4 23	$4M	$4M
Q1 24	$1M	$1M
Q2 24	$2M	$2M
Q3 24	$1M	$461.9K
Q4 24	$393.2K	-$190.0K
Q1 25	$409.2K	$74.5K
Q2 25	$682.5K	$245.5K
Q3 25	-$2M	-$3M

Capital Expenditures

Quarter	CapEx
Q4 21	$58.5K
Q1 22	$221.4K
Q2 22	$50.5K
Q3 22	$46.2K
Q4 22	$36.1K
Q1 23	$5.9K
Q2 23	$0
Q3 23	$0
Q4 23	$155.4K
Q1 24	$0
Q2 24	$0
Q3 24	$656.2K
Q4 24	$583.2K
Q1 25	$334.7K
Q2 25	$437.0K
Q3 25	$426.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+87.7%	+428.4%
Q1 22	+51.8%	+179.4%
Q2 22	+21.7%	+2268.8%
Q3 22	+1.4%	+21.8%
Q4 22	-13.9%	-63.2%
Q1 23	-14.9%	-47.1%
Q2 23	-10.2%	-46.3%
Q3 23	-7.0%	-16.8%
Q4 23	+2.8%	-79.7%
Q1 24	+12.7%	+14.9%
Q2 24	+6.0%	+55.4%
Q3 24	+11.4%	-18.7%
Q4 24	+1.4%	+357.0%
Q1 25	-4.3%	-1.1%
Q2 25	-3.1%	-35.2%
Q3 25	-4.1%	-3.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$423.1K	3.3%
Q4 24	$156.4K	1.2%
Q1 25	$347.1K	2.7%
Q2 25	$370.5K	3.0%
Q3 25	$421.7K	3.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 24	$2M	$3M	$717.6K
Q4 24	$2M	$3M	$612.4K
Q1 25	$2M	$3M	$838.2K
Q2 25	$2M	$3M	$766.6K
Q3 25	$2M	$3M	$760.0K

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q4 21	87.7%	-145.2%	-57.5
Q1 22	51.8%	-46.4%	5.4
Q2 22	21.7%	-58.4%	-36.8
Q3 22	1.4%	-38.5%	-37.1
Q4 22	-13.9%	5.1%	-8.8
Q1 23	-14.9%	12.5%	-2.4
Q2 23	-10.2%	8.1%	-2.1
Q3 23	-7.0%	-26.8%	-33.8
Q4 23	2.8%	91.5%	94.3
Q1 24	12.7%	8.8%	21.5
Q2 24	6.0%	-43.0%	-37.0
Q3 24	11.4%	-24.5%	-13.0
Q4 24	1.4%	77.9%	79.4
Q1 25	-4.3%	-48.6%	-52.9
Q2 25	-3.1%	100.5%	97.4
Q3 25	-4.1%	-6.2%	-10.3

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$43M	$0	$43M
Q2 22	$34M	$0	$34M
Q3 22	$26M	$0	$26M
Q4 22	$29M	$0	$29M
Q1 23	$19M	$0	$19M
Q2 23	$16M	$0	$16M
Q3 23	$13M	$0	$13M
Q4 23	$16M	$26M	$42M
Q1 24	$9M	$0	$9M
Q2 24	$7M	$0	$7M
Q3 24	$7M	$9M	$16M
Q4 24	$6M	$19M	$25M
Q1 25	$7M	$12M	$19M
Q2 25	$6M	$22M	$28M
Q3 25	$11M	$15M	$26M
Q4 25	$13M	$0	$13M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	20M	+9.6%	+143.1%
Q1 22	20M	+1.5%	+67.6%
Q2 22	20M	-2.8%	+9.6%
Q3 22	18M	-7.9%	-0.4%
Q4 22	18M	+0.4%	-8.8%
Q1 23	18M	+0.6%	-9.6%
Q2 23	19M	+2.0%	-5.1%
Q3 23	18M	-3.2%	-0.3%
Q4 23	18M	+0.6%	-0.0%
Q1 24	18M	-1.8%	-2.4%
Q2 24	18M	-1.1%	-5.4%
Q3 24	24M	+36.7%	+33.6%
Q4 24	17M	-30.8%	-8.1%
Q1 25	24M	+44.5%	+35.2%
Q2 25	24M	-0.7%	+35.8%
Q3 25	24M	-1.5%	-2.1%

Shares Outstanding