Mogo Inc (NASDAQ:MOGO) Q3 2024 Results Conference Call November 6, 2024 12:00 PM ET

Company Participants

Craig Armitage - IR
David Feller - Founder, CEO & Chairman
Greg Feller - President, CFO & Director

Conference Call Participants

Adhir Kadve - Eight Capital
Scott Buck - H.C. Wainwright

Operator

Good afternoon, ladies and gentlemen, and welcome to the Mogo Q3 Earnings Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct the question and answer session. [Operator Instructions] This call is being recorded on Wednesday, November 6, 2024.

I would now like to hand the conference over to Craig Armitage, Investor Relations.

Please go ahead.

Craig Armitage

Thank you, operator, and good afternoon, everyone. Thanks for joining us today. Just a few notes from me 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 Q3 filings as well as periodic filings with regulators in Canada and the United States, which you'll find, of course, on SEDAR, EDGAR, and you can access via the Mogo Investor Relations website.

Secondly, today's session will include several non-IFRS measures. Please consider these as a supplement to and not as a substitute for the IFRS measures. We've included reconciliations to those, both in the press release and the investor deck, which is on the website.

With that, I'll turn it over to Dave Feller to get us started. Dave?

David Feller

Thanks, Craig. Thank you. Good afternoon, and welcome to Mogo's third quarter fiscal 2024 results 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 deeper into the financial results and outlook.

Our Q3 results highlight that we continue to execute on our plan to get to profitability while investing for the future in key product areas. We are pleased with the progress but there's a lot more to do. Again, sustainable profitability is our strategic priority, and we continue to be hyper-focused on efficiency initiatives while also investing for future growth.

We raised our 2024 EBITDA guidance, and we introduced EBITDA guidance for 2025 that implies 69% growth at the midpoint of the range. Most importantly, for the first time in our company's history, we expect to have positive adjusted net income for 2025. We look at our business today through the lens of our key pillars. Each one has its own unique opportunity for long-term growth. While efficiency and profitability remain our top priority, we've continued to make meaningful progress in our wealth platform and are more excited than ever on the opportunity we have with what we see as a very unique and compelling value proposition in a massive market.