Mogo Reports Results for Q1 2025

Associated Press

08-05-2025

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 8, 2025--
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 first quarter ended March 31, 2025.
'Our Q1 results were highlighted by continued strong double-digit growth from our Wealth and Payments businesses – the two main growth priorities for Mogo,' said Greg Feller, Mogo's Chief Financial Officer. 'Given our current scale in these markets, and the massive opportunity for disruption through innovation, we are making disciplined investments in these businesses while maintaining positive Adjusted EBITDA. This is about scaling intelligently and with agility as we build for long-term growth, underpinned our new AI-native platform strategy. We increased our cash position from year end, and expect additional monetizations this year to further strengthen our balance sheet.'
'This quarter we launched MOGO 3.0, our internal initiative to become a fully AI-native company,' said David Feller, Mogo's Founder and CEO. 'That means consolidating our platforms, automating core workflows, and embedding AI across wealth, lending, and operations. We've already begun executing on this transformation, and we believe it sets the foundation for stronger margins, faster product development, and smarter customer experiences going forward.'
Key Financial Highlights for Q1 2025
Business & Operations Highlights
Financial Outlook
The outlook that follows 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.
Mogo reiterated its financial guidance for fiscal 2025 as outlined with its year-end financial results. Key elements of this include the following:
1 Includes cash, restricted cash and cash equivalents.
2 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 March 31, 2025.
3 Adjusted EBITDA, adjusted revenue and adjusted net income (loss) are non-IFRS measures. Management has not reconciled these forward-looking non-IFRS measures to their most directly comparable IFRS measure, net loss before tax. This is because the Company cannot predict with reasonable certainty and without unreasonable efforts the ultimate outcome of certain IFRS components of such reconciliations due to market-related assumptions that are not within our control as well as certain legal or advisory costs, tax costs or other costs that may arise. For these reasons, management is unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable IFRS measures.
Conference Call & Webcast
Mogo will host a conference call to discuss its Q1 2025 financial results at 3:00 p.m. ET on May 8, 2025. The call will be hosted by David Feller, Founder and CEO, and Greg Feller, President and CFO. To participate in the call, dial [phone] or [phone] (International) using conference ID: 77526. The webcast can be accessed at http://investors.mogo.ca. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.
Non-IFRS Financial Measures
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 March 31, 2025, which is available atwww.sedarplus.comand atwww.sec.gov.
The following tables present a reconciliation of each non-IFRS financial measure to the most comparable IFRS financial measure.
Adjusted Revenue
Adjusted EBITDA
Adjusted Net Loss
Cash Provided by (used in) Operations before Investment in Gross Loans Receivable
Forward-Looking Statements
This news release contains 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding the Company's initiative to become a fully AI-native company and financial outlook for 2025. 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 atwww.sedarplus.comandwww.sec.gov. 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.
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250507108140/en/
CONTACT: Investor Relations
[email protected] Investor Relations Contact
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
[email protected]
[phone]
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES PAYMENTS TECHNOLOGY FINANCE ARTIFICIAL INTELLIGENCE DIGITAL CASH MANAGEMENT/DIGITAL ASSETS
SOURCE: Mogo Inc.
Copyright Business Wire 2025.
PUB: 05/08/2025 07:20 AM/DISC: 05/08/2025 07:19 AM
http://www.businesswire.com/news/home/20250507108140/en