MOGO

MKT CAP:$26M

Mogo Inc.

Market Cap

$26M

Technology·Software - Infrastructure·🇨🇦 Canada·NASDAQ

Technology·Software Infra·🇨🇦·NASDAQ

Stock Price

$1.15+$0.14 (+13.86%)

Mar 2, 2026

Company Details

Mogo Inc. operates as a financial technology company in Canada and internationally. The company provides digital solutions to the consumers to get in control of their financial health. It offers Mogo app to access a digital spending account...

CEO

David Marshall Feller

IPO Date

May 16, 2017

Website

www.mogo.ca

Key Metrics TTM

Revenue

$51M

+1.7% YoY

Net Income

$3M

EPS (Diluted)

$0.12

Free Cash Flow

$591.9K

Revenue / Share

$2.11

Gross Margin

67.3%

Operating Margin

-3.6%

Net Margin

5.6%

FCF Margin

1.2%

P/S

0.5x

P/E

9.0x

Earnings Reports

Q3 2025

May 6, 2026

PENDING

Q2 2025

Aug 7, 2025

$12M-3.5%EPS $0.41

Q1 2025

May 8, 2025

$13M-3.3%EPS -$0.36

FY 2024

Apr 29, 2025

$52M+9.2%EPS -$0.41

Q4 2024

Apr 1, 2025

$13M+5.2%EPS $0.31

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$11M	$9M	-$7M
Q4 21	$12M	$9M	-$8M
Q1 22	$13M	$9M	-$9M
Q2 22	$13M	$8M	-$7M
Q3 22	$13M	$8M	-$6M
Q4 22	$13M	$9M	-$3M
Q1 23	$12M	$9M	-$1M
Q2 23	$12M	$9M	-$848.4K
Q3 23	$12M	$8M	-$616.0K
Q4 23	$13M	$8M	-$163.7K
Q1 24	$13M	$8M	-$1M
Q2 24	$13M	$9M	-$947.1K
Q3 24	$13M	$9M	-$290.9K
Q4 24	$13M	$8M	-$90.6K
Q1 25	$13M	$8M	-$1M
Q2 25	$12M	$9M	-$440.7K

Valuation

Quarter	P/S	P/E
Q3 21	9.3x	—
Q4 21	6.3x	—
Q1 22	4.8x	—
Q2 22	1.4x	—
Q3 22	1.5x	—
Q4 22	1.0x	—
Q1 23	0.9x	—
Q2 23	1.1x	—
Q3 23	0.8x	—
Q4 23	1.0x	—
Q1 24	1.0x	—
Q2 24	0.7x	—
Q3 24	0.6x	—
Q4 24	0.6x	—
Q1 25	0.4x	—
Q2 25	0.6x	10.7x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$7M	-$9M
Q4 21	-$6M	-$8M
Q1 22	-$8M	-$10M
Q2 22	-$6M	-$6M
Q3 22	-$4M	-$5M
Q4 22	-$988.0K	-$1M
Q1 23	-$731.5K	-$1M
Q2 23	-$1M	-$2M
Q3 23	-$3M	-$3M
Q4 23	-$2M	-$2M
Q1 24	-$3M	-$3M
Q2 24	$385.9K	-$237.5K
Q3 24	$1M	$461.9K
Q4 24	$393.2K	-$190.0K
Q1 25	$409.2K	$74.5K
Q2 25	$682.5K	$245.5K

Capital Expenditures

Quarter	CapEx
Q3 21	$2M
Q4 21	$2M
Q1 22	$2M
Q2 22	$47.5K
Q3 22	$1M
Q4 22	$35.8K
Q1 23	$651.1K
Q2 23	$513.0K
Q3 23	$0
Q4 23	$150.5K
Q1 24	$514.5K
Q2 24	$623.4K
Q3 24	$656.2K
Q4 24	$583.2K
Q1 25	$334.7K
Q2 25	$437.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+58.0%	+226.2%
Q4 21	+69.9%	+153.8%
Q1 22	+51.1%	+88.2%
Q2 22	+26.5%	+14.7%
Q3 22	+11.8%	-2.1%
Q4 22	+0.9%	-26.0%
Q1 23	-8.0%	-40.8%
Q2 23	-7.4%	-36.7%
Q3 23	-6.2%	-31.6%
Q4 23	+0.1%	-16.8%
Q1 24	+12.9%	+13.1%
Q2 24	+9.7%	+9.8%
Q3 24	+9.3%	+6.2%
Q4 24	+5.2%	+4.5%
Q1 25	-3.3%	-5.6%
Q2 25	-3.5%	-7.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$2M	18.6%
Q4 21	$3M	22.2%
Q1 22	$3M	20.9%
Q2 22	$2M	14.9%
Q3 22	$1M	9.8%
Q4 22	$610.2K	4.9%
Q1 23	$214.1K	1.8%
Q2 23	$585.4K	5.0%
Q3 23	$587.5K	5.0%
Q4 23	$423.9K	3.4%
Q1 24	$410.0K	3.1%
Q2 24	$426.8K	3.3%
Q3 24	$423.1K	3.3%
Q4 24	$156.4K	1.2%
Q1 25	$347.1K	2.7%
Q2 25	$370.5K	3.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 21	$2M	$6M	$3M
Q4 21	$2M	$7M	$3M
Q1 22	$2M	$7M	$3M
Q2 22	$2M	$6M	$3M
Q3 22	$2M	$5M	$2M
Q4 22	$2M	$4M	$756.4K
Q1 23	$2M	$3M	$413.6K
Q2 23	$2M	$3M	$525.4K
Q3 23	$2M	$3M	$697.2K
Q4 23	$2M	$3M	$804.6K
Q1 24	$2M	$3M	$893.0K
Q2 24	$2M	$3M	$743.9K
Q3 24	$2M	$3M	$717.6K
Q4 24	$2M	$3M	$612.4K
Q1 25	$2M	$3M	$838.2K
Q2 25	$2M	$3M	$766.6K

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q3 21	58.0%	-24.6%	33.4
Q4 21	69.9%	-140.0%	-70.1
Q1 22	51.1%	-79.5%	-28.4
Q2 22	26.5%	-274.5%	-248.0
Q3 22	11.8%	-88.8%	-77.0
Q4 22	0.9%	-423.6%	-422.7
Q1 23	-8.0%	-18.6%	-26.6
Q2 23	-7.4%	-38.1%	-45.6
Q3 23	-6.2%	-26.1%	-32.3
Q4 23	0.1%	73.6%	73.7
Q1 24	12.9%	2.9%	15.8
Q2 24	9.7%	-48.2%	-38.5
Q3 24	9.3%	-24.5%	-15.2
Q4 24	5.2%	77.9%	83.1
Q1 25	-3.3%	-48.6%	-51.9
Q2 25	-3.5%	100.5%	97.0

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$50M	$0	$50M
Q1 22	$39M	$0	$39M
Q2 22	$32M	$0	$32M
Q3 22	$26M	$0	$26M
Q4 22	$21M	$0	$21M
Q1 23	$18M	$0	$18M
Q2 23	$15M	$0	$15M
Q3 23	$13M	$0	$13M
Q4 23	$12M	$19M	$31M
Q1 24	$9M	$20M	$29M
Q2 24	$7M	$14M	$21M
Q3 24	$7M	$9M	$16M
Q4 24	$6M	$19M	$25M
Q1 25	$7M	$12M	$19M
Q2 25	$6M	$22M	$28M
Q3 25	$11M	$15M	$26M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	23M	+3.8%	+136.8%
Q4 21	24M	+3.4%	+135.9%
Q1 22	26M	+6.1%	+66.9%
Q2 22	26M	+0.1%	+13.9%
Q3 22	25M	-1.0%	+8.7%
Q4 22	25M	-0.1%	+5.0%
Q1 23	25M	-1.2%	-2.2%
Q2 23	25M	-0.0%	-2.3%
Q3 23	25M	-0.8%	-2.1%
Q4 23	25M	-0.6%	-2.6%
Q1 24	25M	+0.9%	-0.6%
Q2 24	24M	-1.8%	-2.3%
Q3 24	24M	-0.1%	-1.6%
Q4 24	24M	+0.1%	-1.0%
Q1 25	24M	-0.1%	-1.9%
Q2 25	24M	-0.7%	-0.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$43.7K	258
Q4 21	$48.1K	258
Q1 22	$48.9K	258
Q2 22	$49.0K	258
Q3 22	$48.9K	258
Q4 22	$6M	2
Q1 23	$6M	2
Q2 23	$6M	2
Q3 23	$6M	2
Q4 23	$3M	5
Q1 24	$3M	5
Q2 24	$3M	5
Q3 24	$3M	5
Q4 24	$3M	5
Q1 25	$3M	5
Q2 25	$2M	5

Revenue / Employee