Overview

* Mogo ( MOGO ) Q2 net income C$13.5 mln, compared to loss of C$12.4 year ago

* Total subscription and services revenue of C$10.4 mln, almost same as last yr

* Co repurchased 523,091 shares, ~2% of outstanding shares

Outlook

* Mogo ( MOGO ) reiterates full-year financial guidance as previously communicated

* Company aims to integrate Bitcoin trading with equities on platform

Result Drivers

* WEALTH PLATFORM EXPANSION - Co reports growth in wealth revenue, up 48% yr/yr, attributed to shift in investor behavior towards long-term discipline

* PAYMENTS GROWTH - Payments revenue increased 23% yr/yr, reflecting expansion in core business

* WONDERFI REVALUATION - Net income driven by CAD 12.7 mln gain from WonderFi position revaluation following acquisition announcement by Robinhood

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss C$10.40 C$16 mln

Revenue mln (1

Analyst)

Q2 C$13.47

Adjusted mln

Net

Income

Q2 C$1.93

Adjusted mln

EBITDA

Q2 Gross C$12.20

Profit mln

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the financial technology (fintech) peer group is "buy"

* Wall Street's median 12-month price target for Mogo Inc ( MOGO ) is C$3.00, about 25% above its August 6 closing price of C$2.25

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)