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Q4 / YE 2024 Earnings Present a tion March 20, 2025 The future of investing belongs to winners. Most pla tforms make you lose. They push specula tion. They overcharge. They underdeliver. AI is changing markets. The right pla tform changes you. Intelligent Investing. The edge is ment al. The pla tform is power.
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Safe Harbour St a tement Forward-Looking Statements: This presentation contains forward-looking statements or forward looking information that relate to the Company’s current expectations and views of future events. In some cases, these forward-looking statements or forward-looking information can be identified by words or phrases such as “may” , “might” , “will” , “expect” , “anticipate” , “estimate” , “intend” , “plan” , “indicate” , “seek” , “believe” , “predict” or “likely” , or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The Company has based these forward-looking statements on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, among other things, statements relating to the Company’s expectations regarding its revenue (including loan interest), expenses and operations, key performance indicators, provision for loan losses (net of recoveries), delinquencies ratios, anticipated cash needs and the need for additional financing, funding costs, ability to extend or refinance any outstanding amounts under the Company’s credit facilities, ability to protect, maintain and enforce its intellectual property, plans for and timing of expansion of its products and services, future growth plans, ability to attract new members and develop and maintain existing members, ability to attract and retain personnel, expectations with respect to advancement of its product offering, competitive position and the regulatory environment in which the Company operates, anticipated trends and challenges in the Company’s business and the markets in which it operates, third-party claims of infringement or violation of, or other conflicts with, intellectual property rights, the resolution of any legal matters, and the acceptance by consumers and the marketplace of new technologies and solutions. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, any investors or users of this document should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors that are discussed in greater detail in the “Risk Factors” section of the Company’s current annual information form for the year ended December 31, 2023, available at www.sedar.com and at www.sec.gov, which risk factors are incorporated herein by reference, including but not limited to risks related to: our history of losses and our recent, rapid growth; our negative operating cash flow; disruptions in the credit markets may affect our ability to access additional capital through issuances of equity and debt securities; our new products and platform enhances do not achieve sufficient market acceptance; changes in the regulatory environment or in the way regulations are interpreted; security breaches of members’ confidential information; changes in economic conditions may increase member default rates; material changes to the interest rate charged to our members and paid to our lenders; the concentration of our debt funding sources and our ability to access additional capital from those sources; the early payment triggers and covenants under our credit facilities; factors affecting the development, acceptance and widespread use of cryptocurrency; the loss of banking and/or insurance services as a result of our cryptocurrency-related services; the price of our publicly traded securities becoming subject to wide price swings since the value of cryptocurrencies may be subject to pricing risk and wide swings in value; collection, processing, storage, use and disclosure of personal data and its related privacy considerations; protecting our intellectual property rights; claims by third parties for alleged infringement of their intellectual property rights; the use of open source software and any failure to comply with the terms of open source licenses; serious errors or defects in our software and cybersecurity risks; the adequacy of our allowance for loan losses; the reliability of our credit scoring model; access to reliable third party data; our risk management efforts; our operating risk and insurance coverage; our levels of indebtedness; our efforts to expand our market reach and product portfolio; our marketing efforts and ability to increase brand awareness; member complaints and negative publicity; misconduct and/or errors by our employees and third party service providers; our ability to collect payment and service the products we make available to our members; our reliance on data centers to deliver our services and any disruption thereof; competition in our industry; the reliability of information provided by members; our reliance on key personnel; competition for employees; preserving our corporate culture; risks related to litigation; earthquakes, fire, power outages, flood, and other catastrophic events, and interruption by man-made problems such as terrorism; volatility in the market price for our publicly traded securities; future sales of our securities by existing shareholders causing the market price for our publicly traded securities to fall; no cash dividends for the foreseeable future; our trading price and volume declining if analysts publish inaccurate or unfavourable research about us or our business; risks related to operating in the cryptocurrency industry. Although the forward-looking statements contained in this presentation are based upon what our management believes are reasonable assumptions, these risks, uncertainties, assumptions and other factors could cause our actual results, performance, achievements and experience to differ materially from our expectations, future results, performances or achievements expressed or implied by the forward-looking statements. The forward-looking statements made in this presentation relate only to events or information as of the date of this presentation and are expressly qualified in their entirety by this cautionary statement. Except as required by law, we do not assume any obligation to update or revise any of these forwardlooking statements to reflect events or circumstances after the date of this presentation, including the occurrence of unanticipated events. An investor should read this presentation with the understanding that our actual future results may be materially different from what we expect. This presentation may contain Future Oriented Financial Information (“FOFI”) within the meaning of applicable securities laws. The FOFI has been prepared by our management to provide an outlook of our activities and results and may not be appropriate for other purposes. The FOFI has been prepared based on a number of assumptions including the assumptions discussed under the heading “Forward-Looking Statements” . The actual results of our operations and the resulting financial results may vary from the amounts set forth herein, and such variation may be material. Our management believes that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments. This presentation should be read together with our financial statements for the financial quarter ended December 31 2024 and the notes thereto as well as our management’s discussion and analysis for the financial quarter ended December 31, 2024, all of which are available at www.SEDAR.com andwww.sec.gov. © 2025 Mogo Inc. All rights reserved. MogoTrade, Mogo and the Mogo designs are trademarks of Mogo Finance Technology Inc. and used here under licence. The Carta name and Carta designs are the trademarks of Carta Solutions Holding Corporation and used here under licence. Moka and the Moka designs are trademarks of Moka Financial Technologies Inc. Mogo Finance Technology Inc. is an affiliate of Moka Financial Technologies Inc. To apply for any Mogo product, you must open a MogoAccount and pass identity verification. The MogoAccount is currently only available to individuals of the age of majority who are residents of Canada. Nothing herein should be considered an offer, solicitation of an offer, or advice to buy or sell securities. Past performance is no guarantee of future results. Any historical returns, expected returns or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings are for illustrative purposes only. Actual product may differ from the descriptions and images contained herein. The Moka product discussed on pages 8 is offered by Moka Financial Technologies Inc. and Mogo Asset Management Inc. which are wholly owned subsidiaries of Mogo Inc. and affiliates of Mogo Finance Technology Inc. Investment accounts through Moka are opened with Mogo Asset Management Inc., a registered portfolio manager. Moka Financial Technologies Europe is incorporated and registered under French law and is also a wholly owned subsidiary of Moka Financial Technologies Inc. Your self directed trading account is opened with MogoTrade Inc., a wholly owned subsidiary of Mogo Inc. and an order execution only broker registered with CIRO. MogoTrade also operates a division which offers Direct Market Access (DMA) and New Issues. Accounts with MogoTrade Inc. are currently only available to MogoMembers in Canada that have passed identity verification. Customer accounts at MogoTrade Inc. are protected by the Canadian Investor Protection Fund (CIPF) within applicable limits. The Mogo app incorporates the investing principles of Warren Buffett in its features, design and content. The Company is not endorsed by nor affiliated with Warren Buffett. The Carta product discussed on page 14 is offered by Carta Solutions Holding Corp., a wholly owned subsidiary of Mogo Inc. and affiliate of Mogo Finance Technology Inc. FinChat Pro referenced on page 10 is an AI investment research tool powered by FinChat.io, provided "as is" without warranties on accuracy, completeness, quality, or timeliness.Verify information independently. Mogo AI's outputs are not investment advice or recommendations and shouldn't be used for investment decisions. All company names, logos, and brands are property of their respective owners and are used for identification purposes only, including in particular the logos that appear on page 14 and 15 of this presentation. Sources for statistics quoted in the presentation can be found here: https://www.intelligentinvesting.ai/source-en. All figures are expressed in Canadian $'s. Mogo inc.
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FY 2024 highlights Total Revenue Up 9% Yr/Yr $71.2M weal th revenue Up 16% Yr/Yr $10.7M payments revenue Up 20% Yr/Yr $8.6M Adjusted EBITDA1 9.3% Margin $6.6M Canadian Members ~2.2M Payments Volume Up 16% Yr/Yr ~$11.5B AUM Up 22% Yr/Yr ~$428M Cash & Investments2 ~$49M TSX: MOGO NASDAQ:MOGO 1 - Adjusted EBITDA is a non-IFRS measure, refer the the appendix for a reconciliation. 2 - Includes cash, restricted cash , value of investment in TSX:WNDR and other investments as at December 31, 2024.
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Canadian Households Financial Assets as of Q4 2024 $ 1 0 . 8 TPoised for Disruption statistics canada: National balance sheet and financial flow accounts, fourth quarter 2024 (released 2025-03-13)
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If you were designing weal th management from scra tch today, would it look anything like wha t exists? First Principles: Rethinking Weal th Management from the Ground Up Start with First Principles. Remove everything that doesn’t serve the investor. What remains is the future of weal th management.
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Most investors never ask themselves: What is my edge? THEY BUY STOCKS WITHOUT UNDERSTANDING VALUE. THEY REACT TO MARKET NOISE INSTEAD OF FOLLOWING A STRATEGY. THEY DON’T REALIZE INVESTING IS A GAME WHERE ONLY THOSE WITH A REAL EDGE WIN. The difference between those who win and those who don’t isn’t luck — it’s edge. The best investors know things others don’t. (Informational Edge) They analyze opportunities in a way others can’t. (Analytical Edge) And most importantly, they execute with patience while others react emotionally. (Behavioral Edge) “Investors need edge to be successful.” –Seth Klarman
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THE SYSTEM THA T SEP ARA TES THE BEST FROM THE REST. THE SYSTEM THA T SEP ARA TES THE BEST FROM THE REST. Behavioural edge S&P 500 Value Investing Buffett Mode α $3.78B– The number our top 100 members are on track for.
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Actual 10 yr. avg. Projected 10 yr. avg. Actual 10 yr. avg. 14.6% Projected using S&P 500 actual 10 yr. avg. 10 years performance as of Feb 28, 2025 6.2% 7 .6% 8.99% Actual 10 yr. avg. Projected 10 yr. avg. Actual 10 yr. avg. 14.6% Projected using S&P 500 actual 10 yr. avg. 10 years performance as of Feb 28, 2025 6.2% 7 .6% 8.99% GROWTH PORTFOLIO THA T PUTS YOU AHEAD OF 98% OF PROFESSIONALS 98% of professionals underperform the S&P 500 GROWTH PORTFOLIO: +34% IN 2024 (Ranked #3 vs. Top U.S. Hedge Funds)
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MASTERCLASS T emperament Value Long-term Gambling EBITDA Diversification Value Investing Lollapalooza Lollapalooza Gambling THE SELF-DIRECTED INVESTING APP THA T BUILDS YOUR EDGE Most investing apps aren’t for investing. They’re dopamine-fueled casinos MOGO is for investors who know better. No gimmicks. No hidden fees. No casino tricks.
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MOST TRADE ON HEADLINES AND HYPE. SERIOUS INVESTORS RELY ON RESEARCH. THE RESEARCH TOOL THA T SEP ARA TES INVESTORS FROM SPECULA TORS
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High Fees + Low Performance Low Fees + Higher Performance. $20/month Most investors p a y more for worse performance. We the model.flipped
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AI Isn’t Changing the Industry — It’s Destroying the Old Model. Before AI The current weal th industry – banks, weal th advisors, and trading apps controlling assets. After AI A new landscape – where AI- driven transp arency, automa tion, and investor-first pla tforms domina te.
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We’re not here for everyone. We’re building the brand for investors who think differently— who invest for weal th, not hype.
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T AM ~$2.5TGlobal Payments Market Key clients Payments revenue annual payments revenue up 20% yr/yr $7 .2M FY 2023 $8.6M FY 2024 Payment transactioN volume Quarterly payments volume up 14% yr/yr $2.8B Q4 2023 $3.2B Q4 2024
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Mogo’s sizable investment portfolio provides significant crypto exposure and monetiza tion opportunities Mogo’s investment portfolio ~$38. 1MMInvestments1 crypto related investments other investments crypto related investments 1 - consists of investment portfolio and Marketable securities As of December 31, 2024 ~$2.4MMMonetized in Q1 2025
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F i n a n c i a l s Mogo inc.
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Q4 2023 FY 2023Q4 2024 FY 2024 INTEREST SUBSCRIPTION & SERVICES $65.2M Total Quarterly revenue total annual revenue Return to growth in 2024 $71.2M $26.4M $28.1M $38.8M $43.1M $17 .2M $18.0M $7 .0M $6.8M $10.2M $11.3M - 3% + 11% + 6% + 11%
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Q4 2023 FY 2023Q4 2024 FY 2024 $38.8M Quarterly subscription & services revenue annual subscription & services revenue weal th & payments revenue core drivers of growth $43.1M $10.2M $11.3M $2.9M $4.4M $2.4M weal th payments other S&S $2.4M $4.4M $1.9M $10.7M $18.5M $8.6M $9.2M $18.4M $7 .2M $1.5M Legacy S&S $1.6M +19% +27% +7% 0% +16% +20% +33% 0% $4.0M $5.3M
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Q4 2023 FY 2023Q4 2024 FY 2024 $2.7M $7 .7M $2.1M $6.6M Quarterly adjusted ebitda 1 annual adjusted ebitda 1 while remaining adjusted ebitda positive FY 2023 FY 2024 $(2.9) $(4.1) 1 - Adjusted EBITDA and adjusted net loss are non-IFRS measures, refer the the appendix for a reconciliation. $(0.2) $(0.4)ADJUSTED NET LOSS 1 Q4 2023 Q4 2024
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efficiencies drove significant improvement in cash flow1 $4.7M $4.1M $9.5M $(2.2)M $0.5M $(9.2)M CASH flow BEFORE INVESTMENT IN LOAN BOOK 1 TOTAL CASH FLOW FROM OPERATIONS Quarterly Quarterly 1- cash flow before investment in Loan book is a non-IFRS measure, refer the the appendix for a reconciliation. Q4 2023 Q4 2024 FY 2023 FY 2024 $14.5M $(1.3)M ANNUAL ANNUAL Q4 2023 Q4 2024 FY 2023 FY 2024
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$12.0M $11.0M $26.1M Q4 2024 Cash, marketable securities & investment portfolio Cash, marketable securities & investment portfolio Strong balance sheet with significant monetiza tion opportunities INVESTMENT PORTFOLIO 1 MARKETABLE SECURITIES CASH & RESTRICTED CASH 1 - Mogo reviews its investment portfolio every quarter for impairment and any changes are reflected in the valuations. $49.1M Monetizations in Q1 2025 Totaled ~$2.4MM
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On an adjusted basis (excluding Legacy business), Subscription & Services revenue expected to grow mid-to-high single digits Wealth Business: Expected revenue growth of 20-25% in 2025 Payments Business: Expected revenue growth in the mid-to-high teens percentages Interest revenue from lending expected to decline 8-10% due to more conservative strategy given economic uncertainty. Adjusted EBITDA forecasted between $5M - $6M in 2025. see the Management discussion & analysis for the year ended december 31, 2024, available on sedarplus and edgar, for full financial outlook. Adjusted EBITDA adn adjusted net loss are non- IFRS measures. Management has not reconciled these forward-looking non-IFRS measure to its most directly comparable IFRS measure, net loss before tax. This is because the Company cannot predict with reasonable certainty and without unreasonable efforts the ul timate outcome of certain IFRS components of such reconciliations due to market-related assumptions that are not within our control as well as certain legal or advisory costs, tax costs or other costs that may arise. For these reasons, management is unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable IFRS measures. financial outlook
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A P P E N D I X Mogo inc.
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(in $000s) Q4 2023 Q4 2024 FY 2023 FY 2024 Net income (loss) before tax 8,432 10,311 (18,287) (14,021) Depreciation and amortization 2,385 1,993 9,067 8,419 Stock‑based compensation 580 214 2,478 1,938 Interest - Funding (incl. D.C Amortization) 1,595 1,588 6,064 6,702 Debenture Interest expense 1,141 774 3,519 3,324 Accretion related to debentures and convertible debentures 222 170 958 687 Share of loss in investement accounted for using the equity method - - 8,267 - Revaluation (gains) and losses, net (13,600) (13,819) (9,628) (1,322) Other non-operating expenses 1,988 852 5,231 922 Adjusted EBITDA 2,743 2,083 7 ,669 6,649 Reconciliation: Adjusted EBITDA Mogo inc.
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Reconciliation: Adjusted net loss Mogo inc. (in $000s) Q4 2023 Q4 2024 FY 2023 FY 2024 Net income (loss) before tax 8,432 10,311 (18,287) (14,021) Stock‑based compensation 580 214 2,478 1,938 Depreciation and amoritization 2,385 1,993 9,067 8,419 Share of loss in investment accounted for using the equity method - - 8,267 - Revaluation gain (13,600) (13,819) (9,628) (1,322) Other non-operating expenses 1,988 852 5,231 922 Adjusted net loss (215) (449) (2,872) (4,064)
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(in $000s) Q3 2023 Q4 2024 FY 2023 FY 2024 Net cash used in operating activities (2,199) 540 (9,167) (1,271) Net issuance of loans receivable (6,875) (3,580) (18,655) (15,810) Cash provided by (used in) operations before investment in gross loans receivable 4,676 4,120 9,488 14,539 Reconciliation: Cash flow from opera tions before investment in gross loans receivable Mogo inc.