Brief: Mogo Reports Third Quarter Financial Results

Orion Digital

10/11/2022 13:04

Nov 10 (Reuters) - Mogo Inc  MOGO.TO :
    * MOGO REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS
    * Q3 REVENUE ROSE 12 PERCENT TO C$17.3 MILLION
    * ANNOUNCED TO MEMBERS THAT IT WILL BE SHUTTING DOWN MOKA IN
FRANCE IN Q4 2022
    * NET LOSS OF $20.0 MILLION IN Q3 2022, UP FROM $9.8 MILLION
IN Q3
2021
    * IMPLEMENTING BROAD RESTRUCTURING PLAN IN Q4 THAT WILL
RESULT IN
FURTHER 25%-35% REDUCTION IN OPERATING EXPENSES OVER NEXT
SEVERAL QUARTERS
    * EXPECTS TOTAL REVENUES OF $68 TO $69 MILLION FOR 2022
    * FY2022 REVENUE VIEW C$69.8 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nBw77FZcNa 
Further company coverage:  MOGO.TO 
 ((Reuters.Briefs@thomsonreuters.com;))