Welcome to our dedicated page for Mogo news (Ticker: MOGO), a resource for investors and traders seeking the latest updates and insights on Mogo stock.
Mogo Inc (MOGO) is a leading Canadian fintech innovator providing digital financial solutions focused on credit health, smart spending, and identity protection. This dedicated news hub aggregates official press releases and verified updates about the company’s strategic initiatives, financial performance, and product developments.
Investors and stakeholders will find timely information on quarterly earnings, partnership announcements, and technology innovations shaping Mogo’s position in the digital finance sector. The curated collection includes updates about its core offerings: digital lending platforms, credit score monitoring tools, and fraud prevention services.
Bookmark this page to stay informed about Mogo’s market movements, leadership updates, and regulatory filings. All content is sourced directly from company communications to ensure accuracy and compliance with financial disclosure standards.
Mogo announces a significant business combination with Coinsquare, WonderFi Technologies, and CoinSmart, creating the largest regulated crypto asset trading platform in Canada. This transaction positions Mogo as the largest shareholder in the Combined Company with an expected 14% ownership. The Combined Company will boast over 1.65 million registered users and has an asset base exceeding $600 million. In 2022, these entities reported approximately $37 million in revenue. The closing of the transaction, anticipated in Q2 2023, is subject to shareholder approvals and regulatory conditions.
Mogo reported FY 2022 revenue of $68.9 million, a 20% increase year over year, with Q4 revenue at $17.1 million, reflecting a 1% growth. The company achieved positive Adjusted EBITDA of $0.2 million in Q4 2022, one year ahead of schedule, while total operating expenses decreased by 34% year over year. Mogo ended 2022 with $30.8 million in cash and a total of $68.4 million in cash and investments. Despite an increased net loss of $74.9 million due to non-cash impairment charges, Mogo is optimistic about 2023, targeting Adjusted EBITDA between $6 million and $8 million.
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