Mogo Inc Stock Price, News & Analysis

The annual general meeting of shareholders for Mogo (NASDAQ:MOGO) was conducted online, where all proposed resolutions were approved. Key outcomes included the election of directors, the re-appointment of KPMG LLP as auditors for the next year, and the renewal of the stock option plan. A total of 29,013,586 votes were cast, representing 37.8% of total shares. Significant votes included David Feller receiving 84.72% approval for his director position. The complete voting results are available in the management information circular dated May 24, 2022.

Mogo Inc. (NASDAQ:MOGO) will participate in the 17th Annual Needham Technology & Media Conference from May 16-19, 2022. President Greg Feller is scheduled to present virtually on May 18 at 10:15 am ET. Investors can arrange one-on-one meetings through Needham & Company and access the live presentation on Mogo’s investor relations website. Mogo is a leading financial technology firm in Canada, offering digital solutions like the Mogo app for managing finances, trading stocks, and carbon offsetting.

Mogo reported a record Q1 2022 revenue of $17.3 million, up 51% year-over-year, and record gross profit of $12.3 million, up 30%. Member growth reached 1.94 million, a 62% increase. Despite strong revenue, adjusted EBITDA loss widened to $5.5 million, and net loss grew to $18.9 million. Mogo updated its 2022 guidance, now anticipating revenue growth of 20% to 25% (down from previous estimates). The company is set to enhance its offerings with MogoTrade, aiming to capture a larger market share.

Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO), a leader in financial technology, has announced a conference call on May 12, 2022, at 3:00 p.m. ET to discuss its Q1 2022 financial results, with a live webcast featuring a slide presentation. The financial results will be issued prior to market open on the same day. Mogo has empowered 1.9 million members with digital solutions, including a prepaid card, cryptocurrency trading, and personal loans. The upcoming call will provide insights into Mogo’s financial performance and future outlook.

Mogo Inc. (TSX:MOGO) has achieved a significant milestone by planting one million trees in collaboration with veritree, promoting climate action alongside financial well-being.

This initiative allows MogoCard users to plant a tree with every purchase, successfully planting trees in Canada and Kenya.

Mogo aims to help Canadians achieve financial freedom while addressing climate change through initiatives like their commission-free trading app, MogoTrade.

The initiative not only supports reforestation but also seeks to mitigate climate impacts, demonstrating a commitment to sustainability.

Mogo reported record Q4 revenue of $17.0 million, up 70% year-over-year, with subscription and services revenue growing 135% year-over-year. Total revenue for 2021 reached $57.5 million. Despite growth, adjusted EBITDA recorded a loss of $3.7 million in Q4, and a greater net loss of $29.6 million for the quarter, driven by a $22 million non-cash loss related to crypto asset valuations. The company ended 2021 with $193 million in cash and investments and has initiated a $10 million share repurchase program.

Mogo Inc. (NASDAQ:MOGO) has launched Mogo Ventures to manage its strategic investments, which include a 39% stake in Coinsquare and interests in crypto, Web3, and gaming firms such as Enthusiast Gaming (NASDAQ:EGLX). The venture aims to enhance Mogo’s ecosystem and drive shareholder value. The investment committee is led by Greg Feller and includes seasoned investors. As of December 31, 2021, Mogo’s portfolio was valued at $18.1 million, with $1.7 million in digital assets and $103.8 million in Coinsquare.

Mogo Inc. announced the appointment of Allan Smith as Head of its digital payments subsidiary, Carta Worldwide. This follows Mogo's acquisition of Carta in January 2021, which has significantly increased the company's market reach, targeting a global payments market projected to hit $2.5 trillion by 2023. In 2021, Carta's processing volume rose over 50% to approximately $8.5 billion. Smith brings 15 years of fintech leadership experience, including roles at SoFi and Amazon, and aims to drive Carta's growth amid rising digital payment adoption.

Mogo Inc. (NASDAQ:MOGO, TSX:MOGO) will host a conference call and webcast on March 23, 2022, at 3:00 p.m. ET to discuss its Q4 & full-year 2021 financial results. The call will be led by CEO David Feller and CFO Greg Feller, with a slide presentation available during the live webcast. Mogo's digital solutions empower nearly 1.8 million members with tools such as a digital spending account, Mogo Visa Platinum Prepaid Card, and investment services. Financial results will be released prior to market open on the same day.