Latest news with #DavidFeller
National Post
4 days ago
- Business
- National Post
Mogo Reports Positive Net Income and Strong Growth in Wealth and Payments in Q2 2025
Article content Article content Book Value of $81.6 Million ($3.41 per Share) as of Q2 2025 Article content Mogo reports in Canadian dollars and in accordance with IFRS Article content VANCOUVER, British Columbia — Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) ('Mogo' or the 'Company'), a digital wealth and payments business, today announced its financial and operational results for the second quarter ended June 30, 2025. Article content 'We continued to strengthen and expand our Intelligent Investing wealth platform during the second quarter,' said David Feller, Founder & CEO. 'The growth we're seeing reflects a shift in investor behavior – a growing preference for long-term discipline over short-term speculation. Our platform is designed to meet that shift head-on.' Article content 'We also began moving forward with our plan to enable crypto trading alongside equities,' added Feller. 'If approved, Mogo would become one of only two companies in Canada authorized to offer both asset classes through a single, integrated, regulated platform. This is not just a product expansion, it's the foundation for a structural moat.' Article content 'This was one of our strongest quarters ever; profitable, cash-flow positive, and increasingly aligned with our long-term capital strategy,' said Greg Feller, President & CFO. 'We began our Bitcoin treasury strategy in 2024, and in Q2 we expanded both its scale and strategic focus. Following the quarter, we increased our bitcoin holdings using proceeds from the approximately $14 million partial monetization of our WonderFi position. That's a real-time example of our dual-compounding strategy at work: combining long-term operational growth with strategic capital appreciation. With our remaining investment portfolio and our growing Bitcoin reserve, this approach is becoming a core pillar of our long-term shareholder value creation strategy.' Article content Growth in Core Business Article content Wealth Revenue increased 48% year-over-year. Payments Revenue increased 23% year-over-year. Adjusted Subscription & Services Revenue 4 growth accelerated to 13% year-over-year, up from 10% in Q1 2025. Rule of 40 5 (Adjusted Subscription & Services Revenue): 24.4 (13% growth + 11.4% margin), up from 16.4 in Q1 2025. Gross Profit of $12.2 million in Q2 2025, up from $11.8 million in Q2 2024. Gross margin expanded to 72.0% from 67.0%. Article content Strong Profitability and Cash Flow Article content Net Income of $13.5 million, driven by mark-to-market gains including $12.7 million from the revaluation of Mogo's WonderFi position, following the announced acquisition of WonderFi by Robinhood. Adjusted EBITDA 1 of $1.9 million (11.4% margin), up from $1.1 million in Q1 2025 and $1.4 million in Q2 2024. Operating Cash Flow of $0.9 million; $6.2 million before investment in loan receivables 1. Article content Platform and Member Growth Article content Total Members of 2.25 million, up 5% year-over-year. Assets Under Management reached a record $462 million, up 18% year-over-year. Article content Balance Sheet and Capital Position Article content Capital Allocation Strategy Article content Mogo's capital allocation strategy is focused on long-term shareholder value through disciplined operating reinvestment, opportunistic buybacks, and the strategic use of Bitcoin as a reserve asset. Bitcoin Treasury Strategy In July 2025, Mogo's board of directors approved a strategic initiative authorizing up to $50 million in Bitcoin allocations, reinforcing Mogo's conviction in Bitcoin as a long-term reserve asset and capital benchmark. This will be funded through excess cash and monetization of investments over time while maintaining operational liquidity. In June 2025, Mogo invested $1.0 million in Bitcoin ETFs and invested an additional $1.4 million in Bitcoin ETFs post quarter-end, further advancing its dual-compounding strategy that combines operating scale with a high-conviction Bitcoin reserve. Share Repurchase and Liquidity Management In Q2 2025, Mogo repurchased 523,091 shares (~2% of outstanding shares). Since June 2022, 1.64 million shares have been repurchased, representing 6.9% of current outstanding shares. Strategic Investments and Infrastructure In July 2025, Mogo acquired a 9% stake ($1.0 million) in Digital Commodities Capital Corp., a public issuer focused on Bitcoin and physical gold reserves. In July 2025, Mogo announced Bitcoin integration development across product lines: Operating and Regulatory Milestones Carta processed $2.8 billion in payments volume in Q2 2025, consistent with Q2 2024. Excluding the exited Canadian market, European payment volume increased 15% year-over-year, reflecting solid growth across core client accounts. In July, Mogo announced that it is seeking regulatory approval to offer crypto trading on its platform. This step marks a structural expansion of Mogo's evolution into an integrated, multi-asset investing platform. Strategic Transactions • In May 2025, Mogo's portfolio company WonderFi entered into a definitive agreement to be acquired by Robinhood. The transaction is expected to close in the second half of 2025. Article content Financial Outlook Article content Mogo reiterated its full-year financial guidance as previously communicated with its year-end results on March 20, 2025. Article content Outlook made by Mogo, constitutes forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Mogo's control. Please see 'Forward-looking Statements' below for more information. Article content 1 Non-IFRS measure. For more information regarding our use of these non-IFRS measures and, where applicable, a reconciliation to the most comparable IFRS measure, see 'Non-IFRS Financial Measures' in the Company's MD&A for the period ended June 30, 2025. Article content 2 Includes cash and cash equivalents and restricted cash. Article content 5 Rule of 40 score is calculated by adding adjusted subscription and services revenue growth and adjusted EBITDA margin. Article content Conference Call & Webcast Article content Mogo will host a conference call to discuss its Q2 2025 financial results at 3:00 p.m. ET on August 7, 2025. The call will be hosted by David Feller, Founder and CEO, and Greg Feller, President and CFO. To participate in the call, dial (289) 514-5100 or (800) 717-1738 (International) using conference ID: 59110. The webcast can be accessed at Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected. Article content Non-IFRS Financial Measures Article content This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are provided as additional information to complement the IFRS financial measures contained herein by providing further metrics to understand the Company's results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS financial measures, including Adjusted EBITDA, Adjusted net loss and Cash provided by (used in) operating activities before investment in gross loans receivable, to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. Our management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our capital expenditure and working capital requirements. For more information, please see 'Non-IFRS Financial Measures' in our Management's Discussion and Analysis for the period ended June 30, 2025, which is available at Article content This news release contains 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding the Company's plans to launch crypto trading, the plans to apply for regulatory approval in respect of crypto trading and any receipt of such approval, Mogo's capital allocation strategy, Mogo's strategic initiatives in respect of its wealth management and the integration of cryptocurrency in respect thereof. Forward-looking statements are typically identified by words such as 'may', 'will', 'could', 'would', 'anticipate', 'believe', 'expect', 'intend', 'potential', 'estimate', 'budget', 'scheduled', 'plans', 'planned', 'forecasts', 'goals' and similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, many of which are outside of Mogo's control, including the receipt of any required regulatory approval. For a description of the risks associated with Mogo's business please refer to the 'Risk Factors' section of Mogo's current annual information form, which is available at Article content Article content and Article content Article content . Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Article content About Mogo Article content Mogo Inc. Article content (NASDAQ:MOGO; TSX:MOGO) is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX. Article content Article content Article content Article content Contacts Article content Investor Relations investors@ US Investor Relations Contact Lytham Partners, LLC Ben Shamsian New York | Phoenix shamsian@ (646) 829-9701 Article content Article content Article content
National Post
01-08-2025
- Business
- National Post
Mogo to Announce Q2 2025 Financial Results August 7, 2025
VANCOUVER, British Columbia — Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ('Mogo' or the 'Company'), a digital wealth and payments company on a mission to build the future of intelligent finance, today announced it will hold a conference call and webcast to discuss its Q2 2025 financial results on Thursday, August 7, 2025 at 3:00 p.m. ET. The call will be hosted by David Feller, Mogo's Founder & CEO, and Greg Feller, President & CFO. The live webcast will include a slide presentation. The Company will issue its financial results prior to market open on August 7. Article content CONFERENCE CALL DETAILS: Article content Article content About Mogo Article content Mogo Inc. Article content (NASDAQ:MOGO; TSX:MOGO) is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX. Article content Article content Article content Article content Investor Relations investors@ US Investor Relations Contact Lytham Partners, LLC Ben Shamsian New York | Phoenix shamsian@ (646) 829-9701 Article content Article content Article content
Business Wire
01-08-2025
- Business
- Business Wire
Mogo to Announce Q2 2025 Financial Results August 7, 2025
VANCOUVER, British Columbia--(BUSINESS WIRE)--Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) ('Mogo' or the 'Company'), a digital wealth and payments company on a mission to build the future of intelligent finance, today announced it will hold a conference call and webcast to discuss its Q2 2025 financial results on Thursday, August 7, 2025 at 3:00 p.m. ET. The call will be hosted by David Feller, Mogo's Founder & CEO, and Greg Feller, President & CFO. The live webcast will include a slide presentation. The Company will issue its financial results prior to market open on August 7. CONFERENCE CALL DETAILS: About Mogo Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX.
National Post
30-07-2025
- Business
- National Post
Mogo Initiates Process to Obtain Full Crypto Regulatory Approval in Canada
Article content VANCOUVER, British Columbia — Mogo Inc. ('Mogo' or the 'Company') (NASDAQ: MOGO; TSX: MOGO), a digital wealth and payments company on a mission to build the future of intelligent finance, today announced that it is moving forward with plans to seek regulatory approval to offer crypto trading on its platform. If approved, Mogo would join an elite category, becoming one of only two companies in the country authorized to offer both equity and crypto trading under a single, regulated platform. Article content This step forward marks a structural expansion of Mogo's evolution into an integrated, multi-asset investing platform. It follows the introduction of a next-generation wealth experience built for disciplined investors seeking to build long-term capital across both traditional and digital assets. Article content This milestone also reflects Mogo's long-standing commitment to crypto innovation in Canada. In 2018, it launched Canada's first Bitcoin account, and in 2020, it became the third US-listed company to allocate Bitcoin to its balance sheet, following MicroStrategy and Block. Today's announcement builds on that legacy, reinforcing Mogo's leadership at the intersection of fintech and hard asset capital allocation. Article content 'The question is no longer whether crypto belongs in a portfolio, it's how to hold it intelligently,' said David Feller, Founder & CEO of Mogo. 'Our approach isn't built on hype, but on structure, security, and long-term alignment. We're not building a trading tool, we're building a regulated, behaviorally sound platform where crypto plays a deliberate role in wealth creation. That's the difference. And it's one a disciplined investor would respect.' Article content Mogo currently offers equity investing via MogoTrade Inc. and adding crypto trading to the Company's roadmap is tightly integrated with Mogo's capital allocation strategy, which includes a board-approved $50 million Bitcoin treasury authorization. Article content 'This is not a marketing play. It's a structural shift,' said Greg Feller, Co-Founder & President of Mogo. 'The convergence of equities and crypto is not theoretical, it's inevitable. Regulatory approval isn't just a milestone, it's a moat. With we're building a unified wealth experience designed for those who think in decades, not days.' Article content With this move, Mogo is not simply adding crypto, it is architecting the future of disciplined, multi-asset investing in Canada. Mogo aims to build the only platform where long-term investors can manage both equities and crypto within a unified system grounded in behavioral discipline. Article content Mogo Inc. Article content (NASDAQ:MOGO; TSX:MOGO) is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX. Article content Forward-Looking Statements Article content This news release may contain 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding the plans to launch crypto trading, the plans to apply for regulatory approval in respect of crypto trading and any receipt of such approval, Mogo's capital allocation strategy, Mogo's strategic initiatives in respect of its wealth management and the integration of cryptocurrency in respect thereof. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements are typically identified by words such as 'may', 'will', 'could', 'would', 'anticipate', 'believe', 'expect', 'intend', 'potential', 'estimate', 'budget', 'scheduled', 'plans', 'planned', 'forecasts', 'goals' and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, including receipt of applicable regulatory approvals in respect of its products, many of which are outside of Mogo's control. For a description of the risks associated with Mogo's business please refer to the 'Risk Factors' section of Mogo's current annual information form, which is available at and Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Article content Article content Article content Article content Investor Relations investors@ Article content Article content Article content
Globe and Mail
01-07-2025
- Business
- Globe and Mail
Mogo Announces Results of its Annual General Meeting of Shareholders
The annual general meeting of shareholders (the "Meeting") of Mogo Inc. (NASDAQ: MOGO) (TSX: MOGO;) ("Mogo" or the "Company"), a digital wealth and payments business, was held today via live audiocast online and the Company is pleased to announce that all resolutions put forward, being the election of directors, the appointment of the auditors of the Company, and the renewal of the Company's stock option plan and all unallocated options thereunder, were approved. Each of the matters voted upon at the Meeting is discussed in detail in the Company's management information circular dated June 4, 2025 (the 'Circular'), which can be found under the Company's profile on SEDAR+ ( The total number of votes cast by shareholders by proxy or online at the Meeting was 9,529,647 votes, representing 38.94% of the Company's outstanding shares as at May 23, 2025. The voting results are detailed below. Election of Directors The nominees listed in the Circular were elected as directors of Mogo. Detailed results of the vote are as follows: Name of Nominee Votes For % Votes For Votes Withheld % Votes Withheld David Feller 6,744,975 97.55 169,436 2.45 Gregory Feller 6,744,490 97.54 169,921 2.46 Alex Shan 5,947,760 86.02 966,651 13.98 Christopher Payne 4,720,033 68.26 2,194,378 31.74 Kees van Winters 4,709,670 68.11 2,204,742 31.89 Kristin McAlister 4,710,470 68.13 2,203,942 31.87 Appointment of Auditor MNP LLP was re-appointed as auditor of the Company until the next annual general meeting of shareholders of the Company at remuneration to be fixed by the Company's board of directors. Detailed results of the vote are as follows: Votes For % Votes For Votes Withheld % Votes Withheld 9,496,273 99.65 33,373 0.35 Approval of Unallocated Options The Company's Stock Option Plan and all unallocated options under the Company's Stock Option Plan were renewed. Detailed results of the vote are as follows: Votes For % Votes For Votes Against % Votes Against 5,384,086 77.87 1,530,325 22.13 The Company has filed a report of voting results on all resolutions voted upon at the Meeting under its profile on SEDAR+ at About Mogo Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is a financial technology company with three distinct business lines: wealth, lending, and payments. Our mission is to provide consumers with innovative financial solutions that drive long-term financial health and success. We operate with a differentiated approach in each business, leveraging technology, behavioral science, and financial tools to create unique value propositions in our respective markets. Our wealth and lending businesses are focused on the Canadian market, where we are the only subprime consumer lender that also offers a holistic wealth and investing solution. This unique integration is designed to help consumers transition from borrowing and debt to long-term wealth building. Separately, our payments business is operated through Carta Worldwide, a wholly owned subsidiary that provides modern card issuing and processing solutions, primarily in Europe.
