Mogo Inc. (NASDAQ:MOGO) Q4 2023 Earnings Conference Call March 20, 2024 2:00 PM ET
Company Participants
Craig Armitage - Investor Relations
Dave Feller - Chairman and CEO
Greg Feller - President and CFO
Conference Call Participants
Scott Buck - H.C. Wainwright
Andy Nguyen - Raymond James
Operator
Good afternoon, ladies and gentlemen, and welcome to the Mogo Q4 2023 Financial Results Conference Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] This call is being recorded on Wednesday, March 20, 2024.
I would now like to turn the conference over to Mr. Craig Armitage. Thank you. Please go ahead.
Craig Armitage
Thank you, operator, and good afternoon, everyone. Thanks for joining us today. Just a few 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 Q4 and year end filings, as well as periodic filings with regulators in Canada and the United States, which you'll find on SEDAR, EDGAR and you can access to the Investor Relations website as well.
Second point is today's discussion will include several adjusted financial measures i.e. non-IFRS measures. Please consider these as a supplement to and not as a substitute for the IFRS measures. You'll see we've included reconciliations to those measures in the press release and the investor deck.
And with that, I'll turn it over to Dave Feller to get us started. Please go ahead, Dave.
Dave Feller
Thanks, Craig. Thank you. Good afternoon. Welcome to Mogo's fourth quarter and fiscal 2023 results conference call. I'm joined today by Greg Feller, our President and CFO.
Our focus in 2023 was to build a more profitable and efficient company, while at the same time setting us up for long-term sustainable growth by increasing product velocity and driving improvements across our products. We are pleased that we have made excellent progress on both fronts.
As you can see, our financial results really highlight the progress we've made. Q4 revenue was $17.2 million, up more than $1 million or 6% sequentially, another solid quarter with continued improvement in adjusted EBITDA up a 1,000% from last year to $2.7 million this quarter. This brought us to $7.7 million in adjusted EBITDA for the year towards the top of our guidance range, and most significantly a $19.9 million improvement compared to the adjusted EBITDA loss of $12.2 million in 2022. Our business today is made up of three key pillars, wealth, payments, and crypto. We're excited by the long term opportunity in each of these. I'll walk through wealth and Greg will talk about payments in crypto.