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Orion Digital Corp. Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Key Financial & Operational Highlights

  • Total Revenue: Grew 58% year-over-year, driven by accelerating subscription services revenue (now 61% of total revenue) and diversified product streams. This marks the second consecutive quarter of accelerating total revenue growth.
  • Subscription & Services Revenue: Surged 126% year-over-year (third straight quarter of acceleration), fueled by MogoCard spend volume (+834% YoY), organic subscription growth, and contributions from the Moka acquisition. Total ARPU was $36 (slightly down QoQ due to member base expansion).
  • Payment Processing Volume: Reached $2.4 billion, up 65% year-over-year, supported by vertical integration and B2B opportunities.
  • Member Base: Expanded 64% year-over-year to 1.8 million members (excluding ~600k from Coinsquare), aided by Moka acquisition and organic additions. This scale positions Mogo strongly for new product launches like MogoTrade.
  • Gross Profit & Balance Sheet: Record gross profit achieved. Ended Q3 with ~$64 million in cash and investment portfolio (excluding $129 million book value investment in Coinsquare), for total liquidity near $200 million including digital assets.

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Operator: Good afternoon, and and welcome to the Mogo Q3 Earnings Conference Call and Webcast [Operator Instructions]. I will now turn the call over to your host, Head of Investor Relations, Craig Armitage. Sir, you may now begin. Craig Armitage: Thank you. Good afternoon, and thanks for joining us today. Just a couple of quick notes before we get started. First, 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 these risks and uncertainties are included in our Q3 2021 filings as well as periodic filings with regulators in Canada and the United States, which you can find on SEDAR, EDGAR and the Company Web site. Second, today’s discussion will include adjusted financial measures, which are non-IFRS measures. These should be considered as a supplement to and not as a substitute for the IFRS financial measures. Also the amounts today are discussed in Canadian dollars unless otherwise indicated. And lastly as per our normal practice, we do have presentation slides available to accompany today's call. I encourage you to download those from the Investor Relations section of the Web site. With that, I’ll turn it over to Dave Feller to get us started. Dave? Dave Feller: Thanks, Craig. Good afternoon and welcome to Mogo's t

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