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Orion Digital Corp. Q2 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

Mogo Finance Technologies Q2 2024 Earnings Summary

Key Highlights: Solid quarter with revenue growth across all business lines, positive cash flow from operations milestone, and continued product enhancements in wealth. Focus remains on long-term growth in three pillars: Wealth, Payments (Carta), and Crypto investments.

Financial Performance (Q2 2024 vs. Q2 2023 unless noted)

  • Revenue: $17.6 million, +10% year-over-year (YoY)
  • Adjusted EBITDA: $1.4 million (modest decline YoY; +40% sequentially from Q1 2024)
  • OpEx: Flat YoY (following 50% reduction in quarterly OpEx from 2022 decisions)
  • Cash flow from operations (before discretionary loan book investment): +$3.8 million (vs. +$2.1 million prior year)
  • Overall cash flow from operations: +$0.5 million (vs. -$1.8 million in Q2 2023) — first positive quarter since 2020
  • Cash and total investments: ~$41 million (cash/restricted cash $11.3M; investments $11.6M; marketable securities $18.6M)
  • ARPU: Overall consumer products $25; Wealth products $180 (significant monetization opportunity for 2M+ member base)

Business Pillars Update

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Operator: Good morning, ladies and gentlemen, and welcome to the Mogo Finance Technologies Second Quarter Results Conference Call. [Operator Instructions] I would now like to turn the conference over to Craig Armitage, Investor Relations. Please go ahead. Craig Armitage: Thank you, and good afternoon, everyone. Thanks for joining us today. Just a few quick notes before we get started. Today’s call will contain forward-looking statements that are based on current assumptions and subject to risks and uncertainties that could cause actual results to differ materially from those projected. The company undertakes no obligation to update these statements, except as required by law. Information about the risks and uncertainties are included in Mogo’s Q2 filings as well as periodic filings with regulators in Canada and the United States, which you’ll find on SEDAR, and you can access via the Investor Relations website as well. And lastly, today’s session will include several adjusted financial measures or non-IFRS measures. Please consider these as a supplement to and not as a substitute for the IFRS measures. You’ll see that we’ve included reconciliations to those in the press release and in the investor deck. And with that, I’ll turn it over to Dave Feller. Dave? Dave Feller: Thanks, Craig. Thank you, and good afternoon. Welcome to our second quarter 2024 call. I’m joined today by Greg Feller, our President and CFO. I’ll cover some of the key operating highlights, and Greg will dig

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