Mogo Inc Stock Price, News & Analysis

Mogo Inc. (NASDAQ:MOGO) has partnered with CI Investment Services Inc. to support the launch of MogoTrade, a commission-free stock trading app. CI will provide essential back office services, including clearing and settlement, which enhances Mogo's operational capabilities. MogoTrade is anticipated to launch later this year, pending regulatory approvals. This partnership is expected to improve user experience and operational performance in the Canadian market, which aligns with Mogo's goal of empowering its 1.6 million members through innovative financial solutions.

Mogo Inc. (NASDAQ:MOGO, TSX:MOGO), a digital payments and fintech company, announces that President Greg Feller will present at the 14th Annual LD Micro Main Event on Tuesday, October 12, 2021, at 10:30 AM ET. Investors can register to watch the presentation here. Mogo empowers over 1.6 million members with digital solutions for financial improvement, including a prepaid card and services for buying/selling bitcoin and credit score monitoring.

Mogo (NASDAQ:MOGO) will participate in the BTIG Future of Digital Assets Conference on September 22, with a virtual presentation at 9:30 AM ET. President Greg Feller will also engage in one-on-one meetings that day. Mogo empowers over 1.6 million members with innovative digital solutions via its app, including a unique prepaid card that promotes environmental sustainability. Users can manage spending, buy/sell bitcoin, and access personal loans. Mogo’s subsidiaries, Carta Worldwide and Moka, further enhance its digital payments and investment offerings.

Mogo Inc. has successfully completed the acquisition of Fortification Capital Inc., a Canadian registered investment dealer, following regulatory approvals. This acquisition provides Mogo with essential licenses and technology to expedite the launch of MogoTrade, its commission-free stock trading platform. The deal involved a cash payment of $500,000, additional payments based on Fortification's working capital, and the issuance of 75,000 common shares of Mogo. Mogo aims to leverage this acquisition to enhance wealth management offerings for Canadians.

Mogo Inc. (NASDAQ:MOGO) reported strong Q2 2021 financial results, with a 29% revenue increase to $13.7 million. Subscription and services revenue grew by 81% to $8.2 million, now constituting 60% of total revenue. Despite a net income of $9.0 million attributed to a gain on its Coinsquare investment, the company reported an Adjusted EBITDA loss of $3.0 million. Mogo's total member base surged by 63% to approximately 1.7 million. Mogo is well-positioned for future growth, raising guidance for subscription revenue growth to 100%-110% in Q4 2021.

Mogo Inc. (TSX:MOGO) will hold a conference call on August 11, 2021, at 3:00 p.m. ET to discuss its Q2 2021 financial results. The call will be led by CEO David Feller and CFO Greg Feller, with a slide presentation included in the live webcast. Financial results will be made available before market open on the same day. Mogo aims to empower over 1.5 million members with digital financial solutions, including a spending account, cryptocurrency transactions, and credit score monitoring.

Mogo (NASDAQ:MOGO) has announced that its subsidiary, Carta Worldwide, is collaborating with allpay to facilitate public sector payment initiatives in the UK. These include distributing prepaid cards through the National Health Service to support health programs and the Healthy Start initiative for new mothers. Mogo aims to democratize financial services through technology, while Carta’s platform allows for the issuance of virtual and physical cards. This partnership represents a significant step in digitizing public health payments in the UK.

Mogo announced a minority investment in Tetra Trust Company, Canada's first qualified custodian for cryptocurrency assets. This investment aims to strengthen Mogo's stake in the growing cryptocurrency market, as Tetra Trust provides secure custody solutions for digital assets like bitcoin and ether. Notably, Mogo holds a 4% ownership in Tetra Trust and an approximate 39% stake in Coinsquare, which also supports Tetra. This development is essential as it positions Mogo to capitalize on the expanding cryptocurrency ecosystem in Canada.

Mogo Inc. held its annual general meeting of shareholders, with all resolutions passed, including the election of directors and appointment of auditors. A total of 35,329,257 votes were cast, representing 54.51% of outstanding shares. Notably, David Feller received 95.94% of votes in favor of his reelection. KPMG LLP was reappointed as the Company’s auditor with 99.95% approval. Mogo continues to enhance its digital financial solutions for over one million members through its app, offering features such as a prepaid card, cryptocurrency trading, and credit monitoring.