MOGO - Mogo rallies on record Q4 revenue amid subscription & services revenue growth outlook ahead of consensus
Mogo (NASDAQ:MOGO) trades 15.2% higher premarket after it reported record revenue of $17M (+70% Y/Y) led by subscription and services revenue growth accelerates to 135% Y/Y to $10.7M. Subscription and services revenue for 2021 increased 80% to $34.4M, exceeding guidance range. Mogo's total member base in FY21 increased by ~64% from prior year; digital payments subsidiary, Carta, increased payment processing volume 58% Y/Y;MogoWealth ended the year with AUM of ~$320M. "During Q4, we launched our first version of MogoTrade – the centerpiece of our digital wealth strategy. We expect this will be an important driver of member growth and engagement as we move towards a full launch of this product in 2Q22," Founder and CEO David Feller commented. Adj. EBITDA loss of $3.7M in Q4 compared with positive Adj. EBITDA of $1.1M in year ago quarter. Net loss increased to $29.6M in Q4 compared to net loss of $2.8M in year ago quarter
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Mogo rallies on record Q4 revenue amid subscription & services revenue growth, outlook ahead of consensus