Orion Digital Corp. (TSE:ORIO)
NASDAQ:ORIO
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Orion Digital
(NASDAQ:ORIO)
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Rating:48Neutral
Price Target:
C$1.50
â–²(0.67% Upside)
Action:Reiterated
Date:05/09/26
The score is held up primarily by improving fundamentals—strong margins and a meaningful turnaround to positive operating and free cash flow—despite continued net losses. It is weighed down by weak technicals (price below key moving averages, negative MACD, sub-50 RSI) and elevated financial risk from declining revenue and rising leverage, with limited valuation support due to negative earnings and no dividend data.
Positive Factors
Strong margins
High gross margin (~71%) and positive EBITDA margin (~19%) indicate durable unit economics and pricing power. These margins create operational leverage that can fund R&D and marketing, protect profitability as the business scales, and support long-term cash generation through cycles.
Negative Factors
Declining revenue
TTM revenue has contracted (revenue growth negative), weakening the durability of the operating improvement. Continued top-line decline would pressure fixed-cost absorption, force higher marketing spend to stabilize volume, and could reverse recent margin and cash-flow gains if not arrested.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong margins
High gross margin (~71%) and positive EBITDA margin (~19%) indicate durable unit economics and pricing power. These margins create operational leverage that can fund R&D and marketing, protect profitability as the business scales, and support long-term cash generation through cycles.
Read all positive factors
Orion Digital (ORIO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$32.26M
Dividend YieldN/A
Average Volume (3M)21.03K
Price to Earnings (P/E)―
Beta (1Y)2.22
Revenue Growth-5.31%
EPS Growth87.39%
CountryCA
Employees178
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-0.11
Shares Outstanding23,897,825
10 Day Avg. Volume31,016
30 Day Avg. Volume21,029
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.50
Price to Sales (P/S)0.53
P/FCF Ratio1.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$5.50Price Target Upside269.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.28
Revenue Forecast (FY)C$69.57M
Orion Digital Business Overview & Revenue Model
Company Description
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 MogoTrade, a s...
How the Company Makes Money
Orion Digital generates revenue through a diversified business model. The company primarily makes money by offering subscription-based software-as-a-service (SaaS) tools, licensing its technologies, and providing bespoke development services to en...
Orion Digital Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
47
Neutral
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 67.28M | 68.11M | 71.15M | 65.22M | 68.95M | 40.78M |
| Gross Profit | 47.98M | 49.74M | 56.62M | 41.47M | 46.24M | 46.04M |
| EBITDA | 12.92M | 8.59M | 7.13M | -2.20M | -22.51M | -4.46M |
| Net Income | -2.47M | -8.54M | -13.68M | -17.89M | -165.68M | -33.21M |
Balance Sheet | ||||||
| Total Assets | 166.59M | 173.63M | 189.65M | 207.76M | 221.49M | 393.87M |
| Cash, Cash Equivalents and Short-Term Investments | 23.74M | 17.70M | 34.62M | 16.13M | 29.27M | 69.21M |
| Total Debt | 83.78M | 84.62M | 85.62M | 88.90M | 87.73M | 88.72M |
| Total Liabilities | 99.85M | 101.31M | 108.43M | 114.04M | 110.61M | 124.09M |
| Stockholders Equity | 66.74M | 72.32M | 81.22M | 93.72M | 110.89M | 269.78M |
Cash Flow | ||||||
| Free Cash Flow | 11.84M | 19.47M | -1.35M | -12.59M | -34.95M | -37.61M |
| Operating Cash Flow | 12.52M | 19.52M | -1.27M | -9.17M | -27.01M | -29.64M |
| Investing Cash Flow | 393.03K | -8.81M | -2.79M | -3.09M | -9.15M | -39.59M |
| Financing Cash Flow | -902.26K | -1.52M | -3.52M | -861.00K | -3.08M | 125.86M |
Orion Digital Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
Performance Comparison
Orion Digital Corporate Events
Business Operations and StrategyFinancial Disclosures
Orion Digital Grows Wealth and Payments Platforms as Recurring Revenue Hits 62% of Sales
Positive
Mar 12, 2026
Orion Digital reported fourth-quarter 2025 revenue of $17.4 million and full-year revenue of $68.6 million, with subscription and services reaching 62% of total revenue as the company exits non-core businesses and deepens its focus on platform-dri...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.