Mogo Finance (TSX:MOGO)(NASDAQ:MOGO) is a Vancouver-based financial technology company. Shares of Mogo fell 4.4% on March 20. The stock has plunged 21% year over year.
The company released its fourth-quarter and full-year results for 2018 on March 12. In Q4 2018 total revenue hit a record $16.1 million which was up 21% from the prior year. Core average revenue per member rose 23% to $88 per member. Adjusted EBITDA also hit a record $2.1 million, which represented a 107% increase from Q4 2017.
For the full-year total revenue rose 26% to $61.3 million. Subscription and service revenue reported 106% growth and hit 50% of core revenue for 2018. Adjusted EBITDA climbed 68% year-over-year and hit a record $4.2 million. Net loss fell to $22 million compared to $19.7 million in the prior year, but net loss per share did increase to $0.97 compared to $1.07 in 2017.
Mogo is well-positioned to grow its user base into the next decade. The company launched MogoCrypto in 2018, but this turned out to be poor timing as bitcoin and other cryptos suffered major volatility. Even still, active members at Mogo increased 39% from the prior year to 756,000 at the end of the fiscal year.
Mogo stock is currently trading at the lower end of its 52-week range.
Shares had an RSI of 48 as of close on March 20, which puts it in neutral territory as of this writing. Investors who want fintech exposure should consider Mogo as it looks discounted after its most recent earnings release.
