The following is a summary of the Mogo Inc. (MOGO) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Mogo Inc. reported a 10% year-over-year revenue increase to $17.6 million.

• Carta's payments volume rose 12% to $2.8 billion.

• Positive cash flow from operations was reported, marking an important milestone.

• Q2 adjusted EBITDA was $1.4 million, showing a 40% sequential increase from Q1.

• The company expects subscription services revenue to grow in the mid-teens for FY 2024, with adjusted EBITDA guidance between $5 million to $6 million.

Business Progress:

• Mogo continues to focus on wealth and payments sectors, emphasizing product improvements and strategic partnerships.

• New features and partnerships in the wealth sector include collaboration with Tom Lee and Fundstrat.

• Payments business expected to grow, specifically through its global partnerships and the cloud migration.

• Mogo's wealth solutions align with long-term investment principles, focusing on educating and assisting Canadians in achieving financial freedom.

Opportunities:

• Expansion of the wealth management platform and improved ARPU from wealth products to $180, significantly higher than the average.

• Strategic partnerships aimed at educating consumers and promoting financial literacy to capture a larger market segment.

Risks:

• Mogo's crypto-related investments currently do not generate revenue, representing a potential risk in changing market conditions or crypto-market volatility.

More details: Mogo Inc IR

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