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Mogo Announces Fourth Quarter & Full-Year 2018 Financial Results
Mogo Announces Fourth Quarter & Full-Year 2018 Financial Results Mogo Announce...
About this update from Orion Digital Corp.
[{"type":"text","content":"\n\n\n\nMogo Announces Fourth Quarter & Full-Year 2018 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nMogo Announces Fourth Quarter & Full-Year 2018 Financial Results\nCanada NewsWire\nVANCOUVER, March 12, 2019\n\n\n\nFourth Quarter Core Revenue up 75% year over year to $16.1 Million \nSubscription & Services Revenue grows 100% for the Fourth Quarter and 106% for the Year\nFourth Quarter Adjusted EBITDA Increases 107% year over year to a Record $2.1 Million\nMogo reports in Canadian dollars and in accordance with IFRS\n VANCOUVER, March 12, 2019 /CNW/ - Mogo Finance Technology Inc. (TSX:MOGO) (NASDAQ:MOGO) (\"Mogo\" or the \"Company\"), a digital challenger to Canada's banks, today announced its financial and operational results for the fourth quarter and full-year ended December 31, 2018. \n\"In 2018, we made significant progress enhancing our platform and expanding our ecosystem of products to provide Canadians with a range of financial solutions that help them get in control of their financial health, all in one app,\" said David Feller, Mogo's Founder and CEO. \"Our record revenue performance, particularly the doubling of our subscription and services revenue, clearly demonstrates the power of our platform and revenue model.  The easier we make it for our members to improve their financial health, the more they engage with our products which in turn drives revenue growth. Our strategic priorities for 2019 include the continued expansion of our product offering with the addition of MogoWealth, along with roll out of our new cash back feature for the MogoCard.  Related to this, we also plan on continuing to expand our partner ecosystem, as we identify best-in-class product partners to bring to our growing member base.\"\n\"A record fourth quarter closed out a successful year for Mogo, which saw us transform the revenue base of the Company to more than 50% high-margin subscription and services revenue, as well as exit our short-term lending business,\" said Greg Feller, Preside...