Mogo Inc. (NASDAQ:MOGO) Q2 2022 Results Conference Call August 11, 2022 3:00 PM ET

Company Participants

Craig Armitage - IR

Dave Feller - Founder, CEO & Chairman

Greg Feller - President, CFO & Director

Conference Call Participants

Adhir Kadve - Eight Capital

Scott Buck - HC Wainright

Operator

Good afternoon, and welcome to the Mogo Q2 2020 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Craig Armitage, Investor Relations, you may begin your conference.

Craig Armitage

Thank you, and good afternoon, everyone. Thanks for joining us. I'll just do my normal kind of quick recap in a few notes before we get started.

First, I should note that 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 our Q2 filings as well as periodic filings with regulators in Canada and the U.S., which you can find on SEDAR, EDGAR and through our Investor Relations website.

Second, today's discussion will include adjusted financial measures and non-IFRS measures. These should be considered as a supplement to and not as a substitute for IFRS measures, and you can find reconciliations both in the filings and in the deck.

And lastly, the amounts today are discussed in Canadian dollars, unless otherwise indicated.

I'll now turn the call over to Dave Feller to get us started. Thanks. Dave?

Dave Feller

Thanks, Craig. Welcome again to our second quarter 2020 results call. I'm joined today by Greg Feller, our President and CFO. No question that Q2 was a challenging period, broadly in the fintech space, with many companies seeing significantly declining revenue year-over-year. While we also faced some headwinds, our 27% revenue growth highlights resilience and diversity of our business, something we've worked hard to build over many years.

In this difficult macro environment, with inflation and stock market volatility top of mind, consumers have less money to spend, and they're also looking for better value. These pressures mean our products are more relevant today than ever. This quarter was also one with a focus on expenses, cash flow and balancing growth with profitability. This is demonstrated by a 14% reduction in expenses and improvement in cash flow from operations, which Greg will go into more detail a little later.