Mogo Inc. (MOGO) Wednesday announced a return to profit, compared to loss for the fourth quarter.
The fourth quarter profit was $8.5 million, compared to loss of $74.9 million in the prior year. The quarterly adjusted net loss was C$2.6 million, narrower than the prior net loss of C$5.38 million last year.
The fourth quarter revenue was C$17.2 million that increased 6 percent sequentially.
Looking ahead, the company expects for 2024 Mogo expects accelerating Subscription & Services revenue growth rate in the mid-teens for the full year.
For comments and feedback: editorial@rttnews.com