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MOGO

Mogo Inc.

MOGO

Mogo Inc. • NASDAQ
$1.28 ▲ 1.18% (+0.01)
Market Cap $31.13 M
52w High $3.83
52w Low $0.74
Dividend Yield 0%
P/E 5.84
Volume 42.70K
Outstanding Shares 24.22M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $16.963M ▲ $12.365M ▼ $-4.509M ▼ -26.581% ▼ $-0.19 ▼ $-1.056M ▼
Q2-2025 $16.933M ▼ $12.79M ▼ $13.509M ▲ 79.779% ▲ $0.56 ▲ $17.022M ▲
Q1-2025 $17.33M ▼ $12.991M ▲ $-11.871M ▼ -68.5% ▼ $-0.49 ▼ $-8.416M ▼
Q4-2024 $18.043M ▲ $11.505M ▼ $10.393M ▲ 57.601% ▲ $0.43 ▲ $14.06M ▲
Q3-2024 $17.685M $12.296M $-8.112M -45.869% $-0.33 $-4.33M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $35.72M ▼ $178.938M ▼ $101.48M ▲ $77.458M ▼
Q2-2025 $38.19M ▲ $183.012M ▲ $101.424M ▲ $81.588M ▲
Q1-2025 $26.142M ▼ $170.241M ▼ $101.182M ▼ $69.059M ▼
Q4-2024 $34.615M ▲ $189.648M ▲ $108.431M ▼ $81.217M ▲
Q3-2024 $22.282M $183.221M $112.625M $70.596M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.237M ▼ $3.001M ▲ $835.034K ▲ $1.027M ▲ $4.726M ▲ $2.993M ▲
Q2-2025 $13.509M ▲ $934K ▲ $-1.598M ▼ $-1.03M ▲ $-1.698M ▼ $336K ▲
Q1-2025 $-11.871M ▼ $560K ▲ $1.989M ▲ $-1.246M ▼ $1.29M ▲ $102K ▲
Q4-2024 $10.393M ▲ $538K ▼ $-798K ▼ $-976K ▲ $-1.235M ▼ $-260K ▼
Q3-2024 $-8.112M $1.53M $-314K $-1.46M $-258K $632K

Five-Year Company Overview

Income Statement

Income Statement Mogo’s revenue base is still relatively small but has grown steadily over the past few years, with gross profit tracking that trend and showing a fairly consistent margin profile. Operating performance has moved from deeper losses toward roughly break‑even at the operating and EBITDA level, which suggests better cost discipline and a more focused business mix. Net income, however, remains negative: the company went through a particularly heavy loss period a few years ago and has since narrowed those losses, but it has not yet achieved durable profitability. Overall, the story here is of a fintech that is past its worst loss phase and is gradually tightening up its income statement, while still operating in the red.

Balance Sheet

Balance Sheet The balance sheet shows a modest asset base that expanded during the growth phase and then shrank as the company streamlined and likely wrote down or sold assets. Cash peaked a few years ago and is now more limited, which increases the importance of managing costs and achieving positive cash generation. Debt levels have been fairly stable, so leverage is not extreme but still meaningful given the company’s size and ongoing losses. Equity is positive but thinner than in the earlier expansion years, and the recent reverse stock splits point to a history of share price pressure and shareholder dilution. The additional exposure to Bitcoin and crypto investments adds another layer of volatility to the company’s financial position.

Cash Flow

Cash Flow Mogo’s cash flow profile mirrors its income statement journey. The business generated positive operating cash flow earlier in the period, then went through several years of cash burn, and is now hovering closer to break-even on a cash basis. Free cash flow has followed the same path, helped by a capital‑light model with relatively low spending on physical or long‑lived assets. This means the company doesn’t need heavy capital expenditures to grow, but it also leaves less room for major missteps because there isn’t a large cash buffer. Continued progress toward stable, positive operating cash flow is the key financial milestone to watch.

Competitive Edge

Competitive Edge Mogo operates in a crowded and fast‑moving fintech space, but it does have some differentiators. It has been around longer than many fintech peers and has decent brand recognition in Canada, especially among younger, digitally focused users. Its integrated app that bundles trading, crypto, credit monitoring, and spending tools can make the platform “sticky,” increasing the cost and hassle of switching for customers. The acquisition of Carta Worldwide adds a B2B payments angle, and the stake in WonderFi plus a Bitcoin treasury strategy deepen its footprint in digital assets. Against this, the company is still small versus traditional banks and large fintechs, faces heavy competition on almost every product line, and must navigate strict financial and crypto regulation. Its competitive position is therefore niche but potentially defensible if it can scale and prove out its ecosystem advantages.

Innovation and R&D

Innovation and R&D Innovation is one of Mogo’s clearest strengths. It has consistently introduced new concepts in Canada, from free credit scores to early crypto offerings, and now a broad digital financial health platform. The “Mogo 3.0” initiative aims to embed artificial intelligence across the business, streamline operations, and deliver more personalized investing and lending experiences, built on modern data infrastructure through partners like Snowflake. The planned “Intelligent Investing” platform, which merges Moka and MogoTrade and eventually combines stocks and crypto in a single regulated interface, is ambitious and relatively unique in its market. Plans to integrate stablecoins and offer hybrid portfolios that blend traditional indexes with Bitcoin show a willingness to experiment at the frontier of finance. The flip side is high execution risk: success depends on seamless technology delivery, user trust, clear regulatory pathways, and the ability to turn these innovative ideas into stable, recurring revenue.

Summary

Mogo is a small but evolving fintech platform that has shifted from a period of heavy losses and aggressive asset growth toward a more disciplined, near‑break‑even operating profile. The income statement and cash flow trends point to gradual financial improvement, though profitability has not yet been reached and the margin for error remains thin given limited cash and ongoing debt. Strategically, the company is leaning into an integrated, app‑based ecosystem that blends traditional finance with crypto and AI‑driven tools, supported by both consumer and B2B offerings. This creates real upside potential but also exposes Mogo to regulatory, competitive, and technology‑execution risks, particularly around digital assets and complex new products. Overall, Mogo looks like a high‑innovation, higher‑risk fintech story where future value will depend heavily on delivering on its AI and wealth‑platform roadmap while solidifying consistent positive cash generation.

NEWS

November 7, 2025 · 7:30 AM UTC

Mogo Reports Continued Platform Growth and Record Assets Under Management in Q3 2025

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November 5, 2025 · 8:23 AM UTC

MOGO to Participate at the 3rd Annual Cantor Crypto, A/I Energy Infrastructure Conference

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October 31, 2025 · 5:00 PM UTC

Mogo to Announce Q3 2025 Financial Results November 7, 2025

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September 19, 2025 · 5:00 PM UTC

Mogo Applies to Extend the Expiry Date of Certain Warrants

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September 16, 2025 · 7:30 AM UTC

Mogo Announces Appointment of Joanna Floyd to Board of Directors

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