Mogo Finance Technology ( (MOGO) ) has released its Q3 earnings. Here is a breakdown of the information Mogo Finance Technology presented to its investors.
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Mogo Inc. is a leading Canadian digital finance company offering a range of services, including stock trading, digital loans, and payment solutions, with a focus on helping Canadians achieve financial freedom. In the third quarter of 2024, Mogo reported a revenue increase to $17.7 million, marking its third consecutive quarter of growth across its wealth, payments, and lending businesses. The company’s net loss improved from $9.5 million to $8.1 million compared to the previous year, while assets under management rose by 22% year-over-year. In addition, Mogo’s digital payment solutions processed nearly $3 billion in payments, up 23% from the previous year. Mogo continues to expand its member base, reaching 2.17 million members, driven by new product adoption and strategic partnerships. Looking ahead, Mogo expects to see continued growth in subscription and services revenue, with a forecasted adjusted EBITDA increase for fiscal 2024 and positive adjusted net income in 2025.
