Mogo Announces First Quarter 2020 Financial Results
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Mogo Inc. (MOGO) Reports Q1 Core Revenues of $12.2M
June 3, 2020 5:06 PM EDTMogo Inc. (NASDAQ: MOGO) reported Q1 core revenue for the quarter came in at $12.2 million, versus $11.3 million reported last year.
Q1 2020 Business Highlights
Active members increased 26% year over year to 1,022,000 at quarter end, placing Mogo among the largest fintech companies in Canada by total members.Sold the majority of our MogoLiquid loan portfolio to goeasy Ltd. (goeasy) for gross consideration of $31.6 million. In conjunction with the sale of the MogoLiquid loan portfolio, we repaid and extinguished one of our two credit facilities, which held an outstanding balance of $29.3 million at year... More