Summary of Mogo Conference Call - August 19, 2025 Company Overview - **Company**: Mogo (Ticker: MOGO) - **Industry**: Fintech, focusing on wealth management and cryptocurrency Key Financial Highlights - **Q2 Results**: - Positive net income of CAD 13.5 million [3] - Wealth revenue increased by 48% year-over-year [3] - Payments revenue grew by 23% [3] - Adjusted EBITDA margin of 11% [3] - Book value of CAD 81.6 million, approximately CAD 3.41 per share [3] - Cash and securities investments exceeding CAD 50 million [3] Strategic Focus - **Unique Positioning**: Mogo aims to combine high-growth fintech with a Bitcoin treasury strategy, targeting a 50/50 balance between wealth management and Bitcoin investments [3][11] - **Bitcoin Treasury Program**: - Launched in 2020, Mogo was one of the first public companies to adopt Bitcoin on its balance sheet [4] - Recent monetization of investment in WonderFi, a crypto exchange, with proceeds of nearly CAD 30 million expected from its acquisition by Robinhood [4] - **Intelligent Investing Platform**: - Subscription-based model designed to promote long-term wealth building through disciplined investment behavior [5] - Focus on attracting retail investors who have previously lost money in speculative trading [5][16] Regulatory and Market Opportunities - **Crypto Trading Approval**: Mogo is pursuing full regulatory approval for crypto trading, potentially becoming the second company in Canada to offer both crypto and equities trading [6][7] - **Payments Business**: - Carta Worldwide, focused on Europe, is experiencing organic growth of 15% in volume and over 20% in revenue [8] - Migration to Oracle Cloud to enhance scalability and cost efficiency [8] Market Trends and Consumer Behavior - **Wealth Management**: - Targeting the younger generation, with CAD 3 trillion in assets currently in underperforming mutual funds in Canada [14] - Emphasis on long-term investment strategies over speculative trading [15] - **Consumer Shift**: - Increasing disillusionment among retail investors with speculative platforms, leading to a search for more stable investment options [15][16] Financial Health and Future Outlook - **Balance Sheet Strength**: - Strong cash position with CAD 50 million in cash and investments, primarily from the WonderFi stake [10] - Ongoing stock buybacks due to perceived undervaluation [10] - **Investment Strategy**: - Mogo's investments will be benchmarked against Bitcoin returns, reinforcing a disciplined investment approach [11] Conclusion - Mogo is positioned to capitalize on the growing demand for integrated wealth management and cryptocurrency services, with a strong focus on regulatory compliance and consumer education. The company's dual compounding strategy aims to leverage both fintech growth and Bitcoin investments to drive long-term value for shareholders.

Core Viewpoint - Coca-Cola will introduce a cane sugar-sweetened version of its flagship drink in the US, responding to consumer preferences and discussions with Donald Trump, who advocates for this change [1][2][3]. Product Launch - A new version of Coca-Cola made with US cane sugar will be available later this year, complementing the existing product line in the US [3]. - The initiative reflects Coca-Cola's strategy to expand its product range to meet consumer interest in differentiated experiences [4]. Consumer Preferences - The cane sugar version is often referred to as "Mexican Coke" in the US, as it has been imported from Mexico, where it is sweetened with cane sugar [5]. - Many consumers, including Trump, believe that the Mexican version tastes better than the US version made with high-fructose corn syrup [1][5]. Corporate Response - Coca-Cola's chairman and CEO, James Quincey, acknowledged the president's enthusiasm and emphasized that the new product aims to offer more choices to consumers [4]. - The company has not confirmed specific details about the product launch but indicated that more information would be shared soon [2][3]. Health Considerations - The Trump administration's MAHA initiative has encouraged food companies to reformulate products to remove certain ingredients, including high-fructose corn syrup, which has been linked to health issues [6]. - Despite taste preferences, the health impacts of cane sugar and high-fructose corn syrup are reported to be similar [7].