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"title": "Earnings call: Mogo reports record Q1 revenue, growth in AUM By Investing.com",
"description": "Earnings call: Mogo reports record Q1 revenue, growth in AUM",
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"snippet": "Mogo Inc. (MOGO), a Canadian fintech firm, has announced a robust start to the year with record revenues and substantial growth in assets under management in it...",
"url": "https://www.investing.com/news/stock-market-news/earnings-call-mogo-reports-record-q1-revenue-growth-in-aum-93CH-3435243",
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"published_at": "2024-05-10T19:34:35.000000Z",
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"highlight": "<em>Mogo</em> <em>Inc</em>. (<em>MOGO</em>), a Canadian fintech firm, has announced a robust start to the year with record revenues and substantial growth in assets under management in its first quarter of 2024. The company reported a quarterly revenue of $17.9 million and assets under management surpassing $400 million.",
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"highlight": "Key Takeaways\n\n<em>Mogo</em> achieved record quarterly revenue of $17.9 million.\n\nThe company's AUM surpassed $400 million.\n\nCryptocurrency investments constitute nearly 50% of Mogo's market cap.\n\nPositive adjusted EBITDA reported at $1 million.\n\n<em>Mogo</em> plans to ramp up marketing for its wealth platform.",
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"highlight": "Company Outlook\n\n<em>Mogo</em> aims to disrupt the Canadian wealth market with projections indicating growth from $6 trillion to over $11 trillion by 2032.\n\nThe company plans to increase subscription services revenue growth through enhanced marketing initiatives.",
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"highlight": "InvestingPro Insights\n\n<em>Mogo</em> <em>Inc</em>. (<em>MOGO</em>) has kicked off 2024 with a commendable financial performance, but a deeper dive into the company's metrics provides a more nuanced picture. As of Q1 2024, Mogo's market capitalization stands at $43.54 million, reflecting the market's valuation of the company.",
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"highlight": "This aligns with the InvestingPro Tip that analysts do not expect <em>Mogo</em> to be profitable this year.\n\nhere or remove ads . 3rd party Ad. Not an offer or recommendation by Investing.com.",
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"highlight": "Full transcript - <em>Mogo</em> Finance (<em>MOGO</em>) Q1 2024:\n\nOperator: Good afternoon, ladies and gentlemen, and welcome to the <em>Mogo</em> Q1 2024 Financial Results Conference Call. [Operator Instructions] This call is being recorded on Thursday, May 9, 2024. I would now like to turn the conference over to Craig Armitage, Investor Relations. Please go ahead.",
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"highlight": "Another major pillar in <em>Mogo</em> is our crypto-related investments, which collectively today represent just under 50% of our market cap. Largest of these is our 87 million shares in TSX-listed WonderFi, the only fully regulated crypto exchange in Canada.",
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"highlight": "Dave talked about the relaunch of our two wealth products, <em>Mogo</em> and Moka and the significant value-enhancing elements to these products. These changes will help our users invest and build wealth more intelligently.",
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"highlight": "They also create a significant opportunity for <em>Mogo</em> to increase our ARPU while maintaining a compelling value proposition for our users. With the new pricing tier of $15 a month for each of Moka and <em>Mogo</em>, we have a significant subscription-driven opportunity of up to $360 per year per user for those members that subscribe to both products.",
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"highlight": "But we are also seeing some meaningful growth even on the <em>Mogo</em> side assets, assets on the platform up well over 100%, but also on a much smaller scale. We also effectively have done very little to no marketing on the <em>Mogo</em> product where we have actually done some on Moka.",
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Exchange
- Toronto Stock Exchange
- equity
- Technology
- ca