Financial Data and Key Metrics Changes - Revenue increased by 10% year-over-year to $17.6 million [3][17] - Positive cash flow from operations of $0.5 million, compared to negative $1.8 million in Q2 of the previous year [18][20] - Adjusted EBITDA was $1.4 million, down modestly year-over-year but up 40% sequentially from Q1 [18] Business Line Data and Key Metrics Changes - Payments business, Carta, saw a 12% year-over-year increase in payment volume to $2.8 billion, with an annual run rate exceeding $10 billion [16] - Wealth business showed year-over-year growth, with significant product improvements and 21 updates released in the last quarter [8][19] - Average Revenue Per User (ARPU) for wealth products is $180, compared to an overall ARPU of $25 across all products [19][31] Market Data and Key Metrics Changes - The wealth industry is estimated at over $6 trillion in investable assets, with $2 trillion currently in mutual funds, indicating a significant market opportunity [4][6] - 75% of Canadians nearing retirement have saved less than $100,000, highlighting the need for better investment solutions [6] Company Strategy and Development Direction - The company aims to disrupt the wealth space in Canada by offering a fully managed solution alongside a self-directed investing app [7][15] - Strategic partnerships with Postmedia and Tom Lee of Fundstrat to enhance market presence and educate consumers on wealth building [14][28] - Focus on product improvements and customer experience to drive growth, with a goal of increasing word-of-mouth referrals [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the payments business and the long-term potential of the wealth business [24][28] - The company expects subscription services revenue to grow in the mid-teens for the full year and has introduced adjusted EBITDA guidance of $5 million to $6 million [21] - Anticipated savings from potential future interest rate reductions on the credit facility, with each 1% decrease equating to $0.5 million in cash savings [37] Other Important Information - The company ended the quarter with cash and total investments of approximately $41 million [20] - The wealth business is positioned as a core part of the company's strategy, with a focus on behavioral science to improve investment habits [7][10] Q&A Session Summary Question: Thoughts on cash flow moving forward - Management highlighted the importance of being cash flow positive on a consolidated basis and the ability to self-fund investments in the loan book [22][23] Question: Strategy for wealth and payments business - Management expects continued growth in the payments business and emphasized the importance of product improvements in the wealth business [24][26] Question: State of consumer credit and lending business outlook - The lending business is currently flat, with a focus on prioritizing wealth and payments, but management sees long-term value in lending [34][35] Question: Economics of the partnership with Tom Lee - The partnership is a marketing collaboration with no equity involved, and costs will be reflected in marketing expenses [36] Question: Impact of declining interest rates on expenses - Management indicated that a 1% decrease in interest rates could lead to $0.5 million in cash savings [37]

Q2 2024 EARNINGS BUILD YOUR LEGACY SAFE HARBOUR STATEMENT Forward-Looking Statements: This presentation contains forward-looking statements or forward looking information that relate to the Company's current expectations and views of future events. In some cases, these forward-looking statements or forward-looking information can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "predict" or "likely", or the ...

Mogo Inc (MOGO) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 31.25%. A quarter ago, it was expected that this company would post a loss of $0.22 per share when it actually produced a loss of $0.12, delivering a surprise of 45.45%. Over the last four quarters, the company has surpassed con ...

Exhibit 99.1 | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | Page | | Interim Condensed Consolidated Statements of Financial Position as at June 30, 2024 and December 31, 2023 | F-2 | | Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, 2024 and 2023 | F-3 | | In ...

Mogo Inc. (NASDAQ:MOGO) Q1 2024 Earnings Conference Call May 9, 2024 2:00 PM ET Company Participants Craig Armitage - Investor Relations Dave Feller - Chief Executive Officer Greg Feller - Chief Financial Officer Conference Call Participants Scott Buck - H.C. Wainwright Adhir Kadve - Eight Capital Operator Good afternoon, ladies and gentlemen, and welcome to the Mogo Q1 2024 Financial Results Conference Call. [Operator Instructions] This call is being recorded on Thursday, May 9, 2024. I would now like to t ...

Exhibit 99.1 | Page | | | --- | --- | | Interim Condensed Consolidated Statements of Financial Position as at March 31, 2024 and December 31, 2023 | F-2 | | Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended | F-3 | | March 31, 2024 and 2023 | | | Interim Condensed Consolidated Statements of Changes in Equity (Deficit) for the three months ended March 31, 2024 and | F-4 | | 2023 | | | Interim Condensed Consolidated Statements of Cash Flows for ...

Financial Performance - The company reported an accumulated deficit of approximately $332 million, highlighting ongoing challenges in achieving consistent profitability despite having shareholders' equity of approximately $94 million [49]. - Total revenue for 2023 was $65.221 million, a decrease of 5.3% from $68.949 million in 2022 [182]. - Revenue for Q4 2023 was $17,157,000, a slight increase of 0% compared to $17,146,000 in Q4 2022; however, annual revenue decreased by 5% from $68,949,000 in 2022 to $65,221,000 in 2023 [229]. - Subscription and services revenue in Canada for 2023 was $32.668 million, down from $35.112 million in 2022, while interest revenue in Canada was $26.436 million, slightly down from $27.208 million [182]. - Net income for Q4 2023 was $8,511,000, a significant improvement from a net loss of $74,943,000 in Q4 2022; annual net loss improved from $(165,678,000) in 2022 to $(17,887,000) in 2023 [229]. - Adjusted EBITDA for Q4 2023 was $2,743,000, a substantial increase of 1006% from $248,000 in Q4 2022; annual adjusted EBITDA improved from $(12,227,000) in 2022 to $7,669,000 in 2023 [229]. - The company’s ability to generate sufficient cash flow to service its debt is uncertain and may require refinancing or additional financing, which could dilute shareholders [77]. - Net cash used in operating activities for Q4 2023 was $(2,199,000), an increase of 62% compared to $(1,356,000) in Q4 2022; annual cash used improved from $(27,009,000) in 2022 to $(9,167,000) in 2023 [229]. Membership Growth - Membership grew from 2.0 million as of December 31, 2022, to 2.1 million as of December 31, 2023, reflecting a slowdown in growth compared to previous periods [51]. - Total Mogo members increased to 2,110,000 as of December 31, 2023, up 6% from 1,993,000 members as of December 31, 2022, representing a net increase of 117,000 members [231]. - The member base grew by 33,000 in Q4 2023, indicating continued adoption of products by new members [231]. Risks and Challenges - The company faces significant risks from worsening economic conditions, which may increase loan default rates and negatively impact operating results [40]. - The allowance for loan losses is based on both objective and subjective factors, and there is a risk that it may not be adequate to absorb potential loan losses [45]. - The proprietary credit scoring model is critical for forecasting loss rates; failure to accurately assess creditworthiness could lead to higher than expected losses [46]. - The company may require additional capital to pursue business objectives and respond to unforeseen challenges, which could limit operational flexibility if not secured [53]. - The company faces potential liabilities due to evolving privacy regulations and the handling of personally identifiable information, which may require changes to business practices [86]. - Cybersecurity incidents are a significant risk, with increasing frequency and severity, potentially impacting operations and financial results [87]. - The company is subject to extensive regulation, which may change and impact its business operations and expansion efforts [62]. - Future legislation may restrict operational methods and impose additional costs, potentially impacting revenue and financial condition [63]. Operational Strategy - The company is committed to maintaining effective internal controls over financial reporting, with significant resources allocated to ensure compliance with regulations [128]. - The company’s operational infrastructure is vulnerable to breaches, which could lead to unauthorized access to sensitive data [89]. - The company relies on third-party service providers for transaction processing, which poses risks if these services are disrupted or unavailable [106]. - The company relies on third-party partners and service providers for key functions, which poses risks of service disruption and operational vulnerabilities [107]. - The company has a remote-first operational model and has subleased its Vancouver office, seeking to exit the Winnipeg lease [220]. Competitive Landscape - Competition is increasing from traditional financial institutions and technology companies targeting millennials, which could adversely affect market share and pricing [112]. - The company operates in a competitive financial services market, facing competition from fintech companies, traditional banks, and new market entrants [195]. - The company anticipates future market entrants with substantial resources, which may intensify competition in the financial services sector [196]. Product and Service Development - New products and platform enhancements must achieve sufficient market acceptance to recoup development investments; failure to do so could harm financial results [55]. - MogoTrade offers commission-free stock trading and aims to help users invest based on a Warren Buffett approach to long-term investing [142]. - Moka is a fully managed investment platform that specializes in helping members invest strategically in the S&P 500, with no minimum contribution required to start [145]. - MogoMoney provides unsecured loans up to $5,000 at annual rates up to 47.42%, with an instant pre-approval decision refreshed every 90 days [147]. - Mogo launched the world's first climate-positive bitcoin initiative, committing to plant trees to absorb CO2 emissions produced by bitcoin mining [34]. - Mogo launched Moka.ai in March 2024, enhancing its wealth-building app to help Canadians achieve financial freedom [159]. Financial Position and Capital Structure - The company has a significant amount of indebtedness, totaling $49.4 million on its Credit Facility and $36.8 million in outstanding debentures as of December 31, 2023 [77]. - The company’s debt financing sources are highly concentrated, which may limit access to additional funding on reasonable terms [42]. - The company may need to issue equity or increase debt for acquisitions, which could dilute shareholder value and adversely affect financial results [61]. - Mogo expanded its credit facility, increasing available loan capital from $50 million to $60 million and lowering the effective interest rate from a maximum of 9% plus LIBOR to 8% plus LIBOR [170]. Marketing and Brand Strategy - The company incurred $3.3 million in marketing expenses for the year ended December 31, 2023, to enhance brand visibility and member acquisition [101]. - Mogo's marketing strategy focuses on building a strong digital financial brand in Canada, targeting consumers looking to improve their financial health [183]. - Mogo amended its marketing collaboration agreement with Postmedia, extending it until December 31, 2024, to leverage Postmedia's media network [161]. Corporate Governance - The company has entered into a Voting Agreement with KAOS to support its director nominees, indicating active management of its investment portfolio [122]. - The company does not expect to be classified as a Passive Foreign Investment Company (PFIC) for the taxable year ending December 31, 2023, but this status is subject to annual determination [124].

Exhibit 99.1 | | Page | | --- | --- | | Report of Independent Registered Public Accounting Firm | F-2 | | Consolidated Statements of Financial Position as at December 31, 2023 and December 31, 2022 | F-6 | | Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, 2023, | F-7 | | December 31, 2022 and December 31, 2021 | | | Consolidated Statements of Changes in Equity (Deficit) for the years ended December 31, 2023, December 31, 2022 and | F-8 | | December 31, ...

Exhibit 99.1 | Page | | | --- | --- | | Interim Condensed Consolidated Statements of Financial Position as at September 30, 2023 and December 31, 2022 | F-2 | | Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and nine months | F-3 | | ended September 30, 2023 and 2022 | | | Interim Condensed Consolidated Statements of Changes in Equity (Deficit) for the three and nine months ended September | F-4 | | 30, 2023 and 2022 | | | Interim Condensed Consolidated ...

Exhibit 99.1 | Page | | | --- | --- | | Interim Condensed Consolidated Statements of Financial Position as at June 30, 2023 and December 31, 2022 | F-2 | | Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months | F-3 | | ended June 30, 2023 and 2022 | | | Interim Condensed Consolidated Statements of Changes in Equity (Deficit) for the three and six months ended June 30, 2023 | F-4 | | and 2022 | | | Interim Condensed Consolidated Statements of Ca ...