Mogo Announces First Quarter 2019 Financial Results
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Mogo Finance Technology Inc. (MOGO) Reports Q1 Revenues of Cdn$16.4M
May 14, 2019 4:04 PM EDTMogo reports in Canadian dollars and in accordance with IFRS
Mogo Finance Technology Inc. (NASDAQ: MOGO) reported Q1 revenue for the quarter came in at Cdn$16.4 million, versus Cdn$10.4 million reported last year.
Q1 2019 Financial Highlights
Core revenue (which now equals total revenue)1 increased by 57% to $16.4 million, compared with $10.4 million in the same period in 2018.Subscription and services revenue grew to $8.3 million, a 68% increase from the comparable quarter in 2018.Gross profit increased 14% to $10.7 million (65% of revenue), compared with $9.4 million (65% of revenue) in the first quarter of 2018. Gross margin... More