Core Viewpoint - Mogo Inc. has rebranded as Orion Digital Corp., reflecting its transformation into a multi-engine digital finance platform focused on wealth, payments, and digital assets [1][8] Group 1: Company Overview - Orion Digital operates on a foundation of recurring platform revenues and a capital framework emphasizing disciplined capital allocation [2] - The company is structured around three integrated engines: Intelligent Investing, Carta Worldwide, and a Bitcoin treasury strategy [8] - The name change was approved by the board and became effective on December 29, 2025, with trading under the new ticker symbol ORIO starting on January 2, 2026 [7] Group 2: Business Strategy - The Intelligent Investing platform aims to promote durable long-term investing practices through behavioral design, education, and automation [2] - Carta Worldwide supports billions in annual processing volume and is designed to scale with customer demand, reaching approximately 7 million end consumers [3] - The company has a structured treasury strategy for expanding its Bitcoin reserves, demonstrating early conviction in digital assets [4] Group 3: Leadership and Shareholder Alignment - The founders of Orion Digital have not sold any shares since the company's inception, indicating strong alignment with shareholders [6] - The company emphasizes founder-led stewardship and a disciplined approach to capital allocation to compound value over time [6]

Financial Data and Key Metrics Changes - In Q3, adjusted EBITDA was CAD 2 million, representing an 11.6% margin, with total cash investments ending the quarter at CAD 46 million, providing flexibility for growth [4][19] - Total adjusted revenue grew 2% year-over-year to CAD 17 million, with wealth revenue rising 27% and payments revenue increasing 11% [17][18] - Interest revenue decreased by 5% in the quarter due to a new rate cap, although it showed slight sequential growth [18] Business Line Data and Key Metrics Changes - Assets under management (AUM) reached a record CAD 498 million, up 22% year-over-year, driven by deeper adoption of managed portfolios [4][17] - Payments processing volume grew 12% year-over-year to CAD 2.8 billion, reflecting steady international demand [14][17] - Bitcoin holdings increased over 300% quarter-over-quarter, reaching CAD 4.7 million [15][17] Market Data and Key Metrics Changes - Total members in Canada reached 2.3 million, up 6% [17] - The composition of revenue growth is shifting towards higher quality recurring streams, with adjusted subscription services revenue growing by 7% [17] Company Strategy and Development Direction - The company is transitioning to a unified intelligent investing platform, combining managed and self-directed investing under one brand [5][6] - The strategy focuses on building a behavioral operating system for wealth that emphasizes discipline and long-term investing [8][9] - The company aims to grow its recurring revenue base while maintaining profitability and capital allocation focused on Bitcoin and hard asset value creation [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the rollout of the intelligent investing platform, expecting it to drive growth while maintaining EBITDA positivity [32][36] - The company reaffirmed its 2025 revenue guidance and raised its adjusted EBITDA outlook from CAD 5-6 million to CAD 6-7 million for the full year [19][20] - Management acknowledged the challenges posed by the current regulatory environment but is progressing towards offering crypto trading [44] Other Important Information - The company is sunsetting its legacy apps, MOCA and MogoTrade, as it fully transitions to the intelligent investing platform [6] - The intelligent investing platform includes features designed to enhance investor discipline and performance, such as a performance dashboard and a buy-gate investment memo [24][25] Q&A Session Summary Question: How does the company balance growth and margins? - Management stated the philosophy is to stay EBITDA positive while driving top-line growth, expecting offsetting growth from the rollout of intelligent investing [32] Question: What are the logistics for rolling out intelligent investing? - The rollout will start with the managed solution, transitioning existing users to the new platform, with plans to introduce the self-directed option subsequently [34][36] Question: How does the lending business fit with core wealth and payments? - Management indicated that while lending is not the primary growth focus, it remains a stable cash flow generator and will continue to contribute to overall business cash flow [39][40] Question: Update on regulatory process for crypto trading? - Management confirmed progress on the crypto path and partnership discussions, with announcements expected in 2026 [44]

Financial Highlights - Adjusted total revenue reached $17.0 million, a 2% year-over-year increase[8] - Wealth revenue grew significantly by 27% year-over-year, reaching $3.6 million[8] - Assets Under Management (AUM) increased by 22% year-over-year, totaling $498 million[10] - Payments volume grew by 12% year-over-year, reaching $2.8 billion[11] Financial Performance - Adjusted EBITDA was $2.0 million for Q3 2025[40] - Adjusted net loss improved from $(6.3) million in Q3 2024 to $(3.4) million in Q3 2025[41] Balance Sheet - Cash and investments totaled $46 million[10] - The company's book value per share is $3.24, while the share price is $2.11[43] Future Outlook - Subscription & services revenue is expected to grow at a mid-to-high single-digit rate[48] - Wealth revenue is projected to increase by 20-25% in 2025[48] - Payments business is projected to grow in the mid- to-high teens percentages[48]

Core Insights - Mogo Inc reported a quarterly loss of $0.11 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.05, marking a significant earnings surprise of -120.00% [1] - The company generated revenues of $12.32 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 5.37%, although this represents a decline from $12.96 million in the same quarter last year [2] - Mogo has surpassed consensus EPS estimates three times over the last four quarters and has topped consensus revenue estimates four times during the same period [2] Future Outlook - The immediate price movement of Mogo's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [3][4] - The current consensus EPS estimate for the upcoming quarter is -$0.05 on revenues of $11.85 million, while for the current fiscal year, the estimate is -$0.25 on revenues of $48.69 million [7] - The estimate revisions trend for Mogo is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Industry Context - The Technology Services industry, to which Mogo belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - Mogo Inc. reported significant growth in its platform and assets under management, achieving a record $498 million in assets, with a 22% year-over-year increase [4] - The company experienced a 27% year-over-year increase in wealth revenue and an 11% increase in payments revenue [4][10] - Mogo raised its 2025 EBITDA guidance due to strong platform performance, with an adjusted EBITDA margin of 11.6% [8][10] Financial Performance - Total members reached 2.29 million, marking a 6% increase year-over-year [4] - Adjusted total revenue increased by 2% year-over-year to $17.0 million [10] - Adjusted subscription and services revenue rose by 7% year-over-year to $10.3 million [10] - Operating cash flow was reported at ($3.0) million, with total cash and investments amounting to $46.1 million [10] Strategic Initiatives - Mogo is advancing its Intelligent Investing platform, integrating self-directed and managed investing into a unified experience [2][6] - The company has increased its Bitcoin holdings by over 300% quarter-over-quarter, reaching $4.7 million [5] - Mogo's strategic focus includes the successful sale of a portion of its WonderFi holdings to strengthen its balance sheet [2] Market Position and Outlook - Mogo's payments volume (excluding Canada) reached $2.8 billion, reflecting a 12% year-over-year growth driven by international expansion [4] - The company is well-positioned for profitable expansion into 2026, with a focus on launching its next-generation wealth platform [2] - Mogo reiterated its revenue guidance for fiscal 2025 while increasing its full-year 2025 adjusted EBITDA guidance from $5–6 million to $6–7 million [8]

Core Insights - Mogo Inc. reported significant growth in its platform and assets under management, achieving a record $498 million in assets, with Bitcoin holdings increasing over 300% quarter-over-quarter [1][4][5] - The company experienced a year-over-year revenue increase of 27% in wealth revenue and 11% in payments revenue, indicating strong operational performance [1][10] - Mogo raised its 2025 EBITDA guidance due to robust platform performance, with an adjusted EBITDA margin of 11.6% [1][8] Financial Highlights - Total members reached 2.29 million, marking a 6% increase year-over-year [4] - Assets under management (AUM) grew by 22% year-over-year to a record $498 million [4] - Payments volume (excluding Canada) was $2.8 billion, reflecting a 12% year-over-year increase [4] - Adjusted total revenue increased by 2% year-over-year to $17.0 million [10] - Adjusted subscription and services revenue rose by 7% year-over-year to $10.3 million [10] - Adjusted EBITDA was $2.0 million, up from $1.9 million in Q2 2025 [10] Strategic Initiatives - Mogo is advancing its Intelligent Investing platform, integrating self-directed and managed investing into a unified experience [2][6] - The company has implemented a Bitcoin treasury strategy, increasing its Bitcoin holdings to $4.7 million, funded through excess cash and monetization of investments [5] - Mogo plans to focus on expanding its wealth and payments sectors, positioning itself for profitable growth into 2026 [2][5] Operational Developments - The company ceased payments operations in Canada effective Q1 2025 to concentrate on European markets, where payments revenue from European transactions increased by 11% [9] - Mogo's management emphasizes behavioral investing principles to enhance investor outcomes, addressing the common issue of investor underperformance due to behavioral factors [2]

Financial Performance - Revenue for the three months ended September 30, 2025, was CAD 16,963 thousand, a decrease of 4.1% compared to CAD 17,685 thousand for the same period in 2024[7] - Net loss for the three months ended September 30, 2025, was CAD 4,509 thousand, compared to a net loss of CAD 8,112 thousand for the same period in 2024, indicating an improvement of approximately 44.5%[7] - Gross profit for the nine months ended September 30, 2025, was CAD 35,586 thousand, slightly up from CAD 35,299 thousand for the same period in 2024, showing a growth of approximately 0.8%[7] - Operating expenses for the three months ended September 30, 2025, totaled CAD 12,365 thousand, a slight increase from CAD 12,296 thousand in the same period of 2024, reflecting a rise of about 0.6%[7] - The company reported a revaluation gain of $2,748,000 for the three months ended September 30, 2025, compared to a gain of $5,284,000 in 2024, showing a decrease of 48.0%[48] Assets and Liabilities - Total assets decreased from CAD 189,648 thousand as of December 31, 2024, to CAD 178,938 thousand as of September 30, 2025, representing a decline of approximately 5.9%[3] - Total liabilities decreased from CAD 108,431 thousand as of December 31, 2024, to CAD 101,480 thousand as of September 30, 2025, a reduction of about 6.4%[3] - The company’s total equity decreased from CAD 81,217 thousand as of December 31, 2024, to CAD 77,458 thousand as of September 30, 2025, a decline of approximately 4.5%[3] - Non-current assets totaled $66,280,000 as of September 30, 2025, down from $70,872,000 as of December 31, 2024, representing a decrease of 6.5%[46] Cash and Liquidity - Cash and cash equivalents increased significantly from CAD 8,530 thousand as of December 31, 2024, to CAD 14,891 thousand as of September 30, 2025, reflecting a growth of approximately 74.5%[3] - The company’s total cash and cash equivalents were $14,891,000 as of September 30, 2025, indicating liquidity available for operations and investments[52] Loans and Allowances - As of September 30, 2025, gross loans receivable totaled CAD 76,173,000, with an allowance for loan losses of CAD 16,354,000[28] - The net loans receivable amounted to CAD 59,819,000, reflecting an increase from CAD 58,620,000 as of December 31, 2024[28] - The provision for loan losses for the three months ended September 30, 2025, was CAD 1,100,000, compared to CAD 481,000 for the same period in 2024[30] - The allowance for loan losses increased from CAD 14,076,000 at the beginning of the period to CAD 16,354,000 by the end of September 30, 2025[30] Shareholder Information - The weighted average number of basic and fully diluted common shares for the three months ended September 30, 2025, was 23,868 thousand, a decrease from 24,383 thousand in the same period of 2024[7] - The company has 23,968,550 common shares outstanding as of September 30, 2025, down from 24,472,377 as of December 31, 2024[71] - The company repurchased 523,091 common shares at an average price of CAD 2.02 per share, totaling CAD 1,058,000 for the nine months ended September 30, 2025[72] Debt and Credit Facilities - The principal and interest balance outstanding for the credit facility as of September 30, 2025, was CAD 50,875,000, up from CAD 48,792,000 as of December 31, 2024[33] - The balance of the credit facility increased to CAD 50,875,000 as of September 30, 2025, compared to CAD 48,792,000 at the end of 2024, marking a rise of 4.4%[36] - The principal balance of debentures decreased to CAD 33,494,000 as of September 30, 2025, from CAD 35,257,000 as of December 31, 2024, reflecting a reduction of 5.0%[38] - The senior secured credit facility was amended to extend the maturity date to January 2, 2029, with a reduced interest rate of 7% plus the greater of 2% or the Secured Overnight Financing Rate[33] Investment and Marketable Securities - Marketable securities decreased from CAD 26,085,000 as of December 31, 2024, to CAD 20,829,000 as of September 30, 2025[31] - As of September 30, 2025, the company's investment portfolio balance was CAD 7,136,000, down from CAD 11,991,000 as of December 31, 2024, reflecting a decrease of approximately 40.4%[56] - The company disposed of CAD 715,000 from its investment portfolio in Q3 2025, and recognized an unrealized loss of CAD 1,276,000 during the same period[56] Risk Management - The company's credit risk is primarily associated with loans receivable, with ongoing evaluations and an allowance for loan loss to mitigate potential defaults[62] - The company is exposed to interest rate risk primarily related to its credit facility, which could affect cash flows and fair value of financial assets[65] Stock Options and Compensation - As of September 30, 2025, the company has 3,519,000 stock options outstanding with a weighted average exercise price of $2.71[77] - The total stock-based compensation costs related to options for the three months ended September 30, 2025, was $577, compared to $579 for the same period in 2024[79] - The company issued 814,000 stock options during the year, with a weighted average grant date fair value of $1.35[78] - The expected volatility in market price of shares for options granted was 90%-92% for the nine months ended September 30, 2025[78] - The company had a forfeiture rate for options ranging from 0% to 15% for the nine months ended September 30, 2025[78]

Core Insights - Mogo Inc. is a digital wealth and payments company set to release its Q3 2025 earnings report on November 7, 2025, and is recognized for its innovative approach in the fintech sector, particularly in digital payments and cryptocurrency [1] Financial Performance - Wall Street analysts project Mogo's earnings per share to be -$0.05, with estimated revenue around $16.08 million, indicating a year-over-year revenue decline [2][6] - Mogo's price-to-earnings (P/E) ratio is approximately 12.73, reflecting the market's valuation of its earnings [3][6] - The price-to-sales ratio is about 0.72, showing how much investors are willing to pay per dollar of sales [3] Valuation Metrics - The enterprise value to sales ratio is around 1.79, indicating Mogo's total valuation relative to its sales [4] - The enterprise value to operating cash flow ratio is approximately 35.11, providing insight into the company's cash flow efficiency [4] - Mogo's earnings yield stands at 7.85%, suggesting a return on investment relative to its share price [4] Financial Health - Mogo's financial leverage is indicated by a debt-to-equity ratio of about 1.02, suggesting a balanced approach to financing [5][6] - The current ratio is approximately 1.57, indicating Mogo's ability to cover short-term liabilities with its short-term assets [5][6]

Core Insights - Mogo Inc. (MOGO) is set to release its third-quarter 2025 results on November 7, before market open, with a strong history of earnings surprises, averaging 223.2% over the last four quarters [1] Group 1: Q3 Expectations - The Zacks Consensus Estimate for MOGO's revenue is $11.7 million, indicating a 9.8% decline from the same quarter last year [2] - Despite the expected revenue decrease, there is optimism regarding MOGO's cryptocurrency strategy, as it is positioned to be one of the two companies in Canada offering both equity and crypto trading on a single platform [2] Group 2: Operational Growth - MOGO's decision to expand its crypto treasury in Q2 2025 is anticipated to enhance operational growth, benefiting from capital gains on Bitcoin reserves [3] - The consensus estimate for loss per share is 5 cents, compared to a loss of 1 cent in the previous year [3] Group 3: Earnings Prediction Model - Current analysis does not predict an earnings beat for MOGO, as it has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold) [4]

Core Viewpoint - Mogo Inc. is participating in the 3rd Annual Cantor Crypto, A/I Energy Infrastructure Conference, highlighting its engagement in the digital wealth and payments sector [1] Company Participation - Gregory Feller, Co-Founder & President of Mogo Inc., will represent the company at the conference [1] - The conference is scheduled from November 10 to November 12, 2025, at the Ritz-Carlton South Beach, Miami Beach, FL [1] - Feller will be available for one-on-one meetings with institutional investors during the event [1]