Carta Worldwide

Mogo’s Digital Payments Subsidiary, Carta Worldwide, Reports 36% Increase in Payments Volume in 2023 to $9.9 Billion

Retrieved on: 
Wednesday, January 3, 2024

Carta Worldwide (“Carta”), a global digital payments business owned and operated independently by Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO), today announced that its payments volume for the 12 months ended December 31, 2023 reached $9.9 billion, a 36% increase over the prior year.

Key Points: 
  • Carta Worldwide (“Carta”), a global digital payments business owned and operated independently by Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO), today announced that its payments volume for the 12 months ended December 31, 2023 reached $9.9 billion, a 36% increase over the prior year.
  • “Carta’s growth in 2023 was driven by continued expansion in its core European payments business,” said Greg Feller, President & CFO of Mogo Inc. “We believe the strong momentum in 2023 along with the substantial investment in Carta’s platform during the year, including the previously announced migration to Oracle Cloud Infrastructure, position the business for long-term growth in the $2.2 trillion global payments market.”

Pave Bank Launches with $5.2M Funding Round for Programmable Money Revolution

Retrieved on: 
Sunday, December 17, 2023

Pave Bank launches a new programmable bank at the intersection of traditional finance and digital assets. Having secured a banking license, they have built the bank from the ground up catered to global businesses in the new economy.

Key Points: 
  • Singapore, Singapore--(Newsfile Corp. - December 17, 2023) - Launching today, Pave Bank is the world's first programmable bank giving businesses access to new technologies so they can bank more efficiently and access the new economy.
  • Salim Dhanani added: "There are two major trends that led us to create Pave Bank.
  • This shift is not a user experience shift, it is a change of the very nature of money and value, for which Pave Bank is built.
  • FT Partners was the exclusive financial and strategic advisor to Pave Bank on this transaction.

Mogo Reports Results for Q3 2023

Retrieved on: 
Thursday, November 9, 2023

Adjusted EBITDA1 reached $2.1 million in Q3 2023 (12.8% margin), up from an Adjusted EBITDA loss of ($2.8) million in Q3 2022.

Key Points: 
  • Adjusted EBITDA1 reached $2.1 million in Q3 2023 (12.8% margin), up from an Adjusted EBITDA loss of ($2.8) million in Q3 2022.
  • Adjusted net loss1 improved to ($2.6) million in Q3 2023 from ($8.4) million in Q3 2022.
  • Net loss decreased to ($9.5) million in Q3 2023, compared with net loss of ($20.0) million in Q3 2022.
  • Mogo will host a conference call to discuss its Q3 2023 financial results at 3:00 p.m. EDT on November 9, 2023.

Mogo Comments on Recent Share Price Volatility

Retrieved on: 
Monday, October 30, 2023

Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), one of Canada’s leading financial technology companies, today commented that it is not aware of any material events impacting its business or operations that would cause the recent share price volatility.

Key Points: 
  • Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), one of Canada’s leading financial technology companies, today commented that it is not aware of any material events impacting its business or operations that would cause the recent share price volatility.
  • “While we typically do not comment on our stock price – and while we appreciate there has been significant instability in equity markets – we are disappointed with the decline in stock price Mogo has experienced in recent weeks, which we believe is disconnected from our business fundamentals,” said Greg Feller, President & CFO.
  • Mogo is continuing to repurchase common shares under its common share buyback program on NASDAQ and its normal course issuer bid on the Toronto Stock Exchange.
  • With its Q2 2023 financial results, Mogo also reiterated its financial targets for Fiscal 2023.

Mogo Reports Results for Q2 2023 and Share Consolidation

Retrieved on: 
Thursday, August 10, 2023

As a result of these initiatives, total operating expenses for Q2 2023 decreased by $8.1 million, or 38%, compared to Q2 2022.

Key Points: 
  • As a result of these initiatives, total operating expenses for Q2 2023 decreased by $8.1 million, or 38%, compared to Q2 2022.
  • Mogo reported a material improvement in Adjusted EBITDA1, which reached $1.8 million in Q2 2023, compared with an Adjusted EBITDA loss of ($4.1) million in Q2 2022.
  • Adjusted net loss1 improved to ($2.9) million in Q2 2023 from ($9.5) million in Q2 2022.
  • Mogo will host a conference call to discuss its Q2 2023 financial results at 3:00 p.m. EDT on August 10, 2023.

Mogo Reports Results for Q1 2023

Retrieved on: 
Thursday, May 11, 2023

During Q1 2023, Mogo continued to focus on cost efficiency and accelerating its path to profitability.

Key Points: 
  • During Q1 2023, Mogo continued to focus on cost efficiency and accelerating its path to profitability.
  • As a result of these initiatives, total operating expenses for Q1 2023 decreased by $11.1 million, or 45%, compared to Q1 2022.
  • Mogo reported a material improvement in Adjusted EBITDA2, which reached $1.0 million in Q1 2023, compared with an Adjusted EBITDA loss of $5.5 million in Q1 2022.
  • Mogo will host a conference call to discuss its Q1 2023 financial results at 3:00 p.m. EDT on May 11, 2023.

Mogo Reports Results for Q4 & FY 2022

Retrieved on: 
Thursday, March 23, 2023

As a result of these initiatives, total operating expenses for Q4 2022 decreased by $8.1 million, or 34%, compared to Q4 2021 and by 16% from Q3 2022.

Key Points: 
  • As a result of these initiatives, total operating expenses for Q4 2022 decreased by $8.1 million, or 34%, compared to Q4 2021 and by 16% from Q3 2022.
  • Mogo reported positive Adjusted EBITDA2 of $0.2 million in Q4 2022, well in advance of the Company’s target to achieve positive adjusted EBITDA by Q4 2023.
  • Adjusted net loss2 decreased to ($4.3) million in Q4 2022 from ($9.7) million in Q4 2021 and ($8.4) million in Q3 2022.
  • Mogo will host a conference call to discuss its Q4 2022 financial results at 3:00 p.m. EDT on March 23, 2023.

Mogo Schedules Q3 2022 Earnings Conference Call

Retrieved on: 
Thursday, November 3, 2022

Through the free Mogo app, consumers can access a digital spending account with Mogo Visa* Platinum Prepaid Card featuring automatic carbon offsetting, get free monthly credit score monitoring and ID fraud protection and access personal loans and mortgages.

Key Points: 
  • Through the free Mogo app, consumers can access a digital spending account with Mogo Visa* Platinum Prepaid Card featuring automatic carbon offsetting, get free monthly credit score monitoring and ID fraud protection and access personal loans and mortgages.
  • Mogos wholly-owned subsidiary, Carta Worldwide, also offers a digital payments platform that powers the next-generation card programs from innovative fintech companies in Europe, North America and APAC.
  • To learn more, please visit mogo.ca or download the mobile app ( iOS or Android ).
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20221103006372/en/

Mogo Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

Retrieved on: 
Friday, October 28, 2022

Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (Mogo or the Company), one of Canadas leading financial technology companies, today announced that on October 28, 2022, it received a written notification (the Notification Letter) from the Nasdaq Stock Market LLC (Nasdaq) indicating that, for the last thirty consecutive business days, the bid price for the Companys common shares (the Shares) had closed below the minimum US$1.00 per share requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(a)(2).

Key Points: 
  • Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (Mogo or the Company), one of Canadas leading financial technology companies, today announced that on October 28, 2022, it received a written notification (the Notification Letter) from the Nasdaq Stock Market LLC (Nasdaq) indicating that, for the last thirty consecutive business days, the bid price for the Companys common shares (the Shares) had closed below the minimum US$1.00 per share requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(a)(2).
  • The Notification Letter is only a notification of deficiency and has no immediate effect on the listing or trading of the Shares and the Shares will continue to trade on Nasdaq under the symbol MOGO.
  • The Company intends to monitor the bid price of its Shares between now and April 26, 2023, and to evaluate its available options to regain compliance with Nasdaqs minimum bid price rule within the compliance period.
  • Mogos business operations are not affected by the receipt of the Notification Letter and the Company fully intends to resolve the deficiency and regain compliance with the Nasdaq Listing Rules.

Mogo’s Portfolio Company, Coinsquare, Announces New Status as Canada’s First IIROC-regulated Cryptocurrency Dealer and Marketplace Member

Retrieved on: 
Thursday, October 13, 2022

This regulatory status will now position Coinsquare as the first crypto-only, IIROC registered investment dealer and marketplace member across all provinces and territories of Canada.

Key Points: 
  • This regulatory status will now position Coinsquare as the first crypto-only, IIROC registered investment dealer and marketplace member across all provinces and territories of Canada.
  • Consistent with the roadmap and plans for MogoTrade, the Company expects to reintroduce and expand a crypto trading option within the MogoTrade app.
  • MogoCrypto revenue is immaterial to the Companys financial results and Mogo's primary exposure to crypto continues to be its 34% ownership stake in Coinsquare.
  • Coinsquare has grown to become Canadas oldest operating digital asset firm, trading on behalf of over half a million Canadians.