Reports Q4 revenue of $17.1M up 1% over the prior year. Total revenue for FY 2022 increased 20% to $68.9M, at the high-end of the Company’s latest guidance. Q4 gross profit of $11.7 million compared to $12.3 million in Q4 2021 but was up sequentially from $10.8 million (63%) in Q3 2022.."In the face of a highly challenging macroeconomic operating environment in 2022, we acted quickly to significantly accelerate our path to profitability, allowing us to reach positive Adjusted EBITDA in the fourth quarter," said David Feller, Mogo‘s Founder and CEO. "Through this restructuring process, we have considerably narrowed our strategic focus to products where we see the greatest potential for profitable growth. Our digital wealth products, MogoTrade and Moka, will remain the focus of our development efforts and the key drivers going forward, in addition to our digital payments platform, Carta. We will emerge from this period a more profitable and efficient company with exposure to multiple large markets with long-term growth tailwinds."
Published first on TheFly
