Mogo Inc. - MOGO STOCK NEWS

Mogo Inc. (NASDAQ: MOGO; TSX: MOGO), a digital wealth and payments company, held its annual general meeting of shareholders via live audiocast. All resolutions proposed were approved, including the election of directors and the appointment of auditors.

The meeting had a participation of 9,604,178 votes, representing 39.17% of Mogo's outstanding shares as of May 29, 2024. The directors elected included David Feller with 95.24% of votes for, Gregory Feller with 92.12%, Alex Shan with 96.53%, Christopher Payne with 96.50%, Kees Van Winters with 96.58%, and Kristin McAlister with 93.56%.

KPMG LLP was re-appointed as the company's auditor with 99.27% of votes for.

Details of the voting results can be found in the company's management information circular dated May 29, 2024, available on SEDAR+.

Mogo has partnered with Postmedia Network to create an educational wealth content channel for Canadians. This channel aims to educate Canadians on investing, wealth accumulation, and financial management. Postmedia will host the channel on its Financial Post platform, reaching up to 17.8 million monthly users. Mogo will contribute educational content and tools, including a wealth calculator. Mogo will issue 500,000 warrants to Postmedia, entitling them to acquire Mogo shares at $2.15 each for three years, pending TSX approval.

Mogo, a digital wealth and payments company, announced its participation in the Jefferies Global FinTech Conference on June 12 & 13 in New York City. The event will gather public and private companies across the FinTech ecosystem, along with leading institutional, private equity, and VC investors. Greg Feller, Mogo's Co-founder & President, will engage in one-on-one meetings. Investors can access Mogo's presentation on the company's investor relations site.

Mogo has launched a unique self-directed investing app called 'Buffett Mode,' designed to combat speculative trading and align with the long-term investing principles of Warren Buffett. The app aims to help users focus on value investing by incorporating behavioral science techniques to interrupt speculative behaviors. This new feature encourages disciplined and patient investment strategies, promoting long-term wealth building instead of quick gains. Mogo offers a simple pricing model with a $15 monthly subscription, zero commission, and zero added FX fees. The app also excludes features that drive speculative trading, such as margin and options trading. Mogo's initiative aligns with its goal of promoting sustainable investment practices, emphasizing education, and driving positive environmental impacts by replanting Canadian forests.

Mogo Inc. (NASDAQ:MOGO) will participate in the EF Hutton Annual Global Conference on May 15th in New York. The company's management will engage in one-on-one meetings to discuss recent progress and growth plans following a strong Q1 earnings report. Investors can access Mogo's presentation on the investor relations site.

Mogo Inc. announced the extension of its $60 million Credit Facility with Fortress Investment Group to January 2, 2026. The company sees this extension as a positive move that will provide resources and flexibility for its digital lending product.

Mogo Inc. (NASDAQ:MOGO) reported record quarterly revenue of $17.9 million, up 13% year-over-year, with total AUM increasing by 22% to over $400 million. The company also saw a 150% increase in MogoTrade assets year-over-year. Quarterly payments volume rose by 18% to $2.6 billion, and Mogo ended Q1 with $53.4 million in cash, marketable securities, and investments. Revenue growth reflects an acceleration in core products, with Subscription & Services revenue reaching $10.7 million, and improvements in efficiency seen through decreased operating expenses and a 23% increase in revenue per employee. Cash flow from operating activities surged by 2,609% to $1.8 million, and net loss improved to $3.6 million. Adjusted EBITDA was $1.0 million, and Mogo repurchased 17,093 shares in Q1. The company added Bitcoin & Bitcoin ETFs to its treasury management strategy. Business highlights include a growth in payments volume, assets under management exceeding $400 million, and the launch of Moka.ai and

Mogo Inc. (TSX:MOGO) will announce its Q1 2024 financial results on May 9, 2024, with a conference call hosted by CEO David Feller and CFO Greg Feller. The live webcast will include a slide presentation, and financial results will be issued prior to market open. Details for the conference call and webcast are provided.

Mogo congratulates WonderFi and KAOS Capital on their cooperation agreement and expresses support for the nomination of three new directors. The Company views this as a positive step towards realizing the growth potential of WonderFi as the only fully-regulated crypto exchange in the Canadian market. Mogo has entered into a mutual standstill agreement with WonderFi and has agreed to sell up to 20 million of its WonderFi shares over time. The Company will also maintain one seat on WonderFi's board and has granted KAOS a right of first refusal over the same shares Mogo may sell.