Mogo Inc. Files 20-F Annual Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Mogo Inc. has filed its annual 20-F report for the fiscal year ending December 31, 2023.</b>

AI Summary

Mogo Inc. (ORIO) filed a Foreign Annual Report (20-F) with the SEC on April 30, 2024. Mogo Inc. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The filing covers the period ending December 31, 2023, and was submitted on April 30, 2024. The company's principal business address is in Vancouver, Canada. Mogo Inc. was formerly known as Mogo Finance Technology Inc. The SIC code for Mogo Inc. is 6199 (Finance Services).

Why It Matters

For investors and stakeholders tracking Mogo Inc., this filing contains several important signals. This filing provides a comprehensive overview of Mogo Inc.'s financial performance, operations, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: — Mogo Inc. shows moderate risk based on this filing. The filing is a standard annual report (20-F) and does not contain immediate, significant new financial data or strategic shifts that would indicate a high-risk profile.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand Mogo Inc.'s performance and outlook for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (The period covered by the 20-F filing.)
• 2024-04-30 — Filing Date (Date the 20-F report was filed.)
• 6199 — SIC Code (Standard Industrial Classification for Mogo Inc.)

Key Players & Entities

• Mogo Inc. (company) — Filer of the 20-F report.
• Mogo Finance Technology Inc. (company) — Former name of Mogo Inc.
• Vancouver (location) — City of Mogo Inc.'s business address.

FAQ

Industry Context

Mogo Inc. operates in the finance services sector, specifically within digital financial services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring foreign private issuers like Mogo Inc. to submit annual reports on Form 20-F.

What Investors Should Do

1. Analyze the financial statements and management's discussion and analysis (MD&A) in the 20-F for detailed financial performance.
2. Examine the risk factors section to understand potential challenges and uncertainties facing Mogo Inc.
3. Review any disclosures regarding corporate governance, executive compensation, and legal proceedings.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-04-30: Filing Date — Date the 20-F annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 20-F filing for the fiscal year ended December 31, 2023, providing updated information compared to previous filings.

Key Financial Figures

• $94 million — ad shareholders equity of approximately $94 million as of December 31, 2023, we also had an
• $332 million — an accumulated deficit of approximately $332 million. We will need to generate and sustain i

Filing Documents

• mogo-20231231.htm (20-F) — 2518KB
• mogo-ex2_1.htm (EX-2.1) — 14KB
• mogo-ex4_1.htm (EX-4.1) — 152KB
• mogo-ex4_2.htm (EX-4.2) — 206KB
• mogo-ex4_3.htm (EX-4.3) — 115KB
• mogo-ex8_1.htm (EX-8.1) — 19KB
• mogo-ex12_1.htm (EX-12.1) — 18KB
• mogo-ex12_2.htm (EX-12.2) — 19KB
• mogo-ex13_1.htm (EX-13.1) — 7KB
• mogo-ex13_2.htm (EX-13.2) — 7KB
• mogo-ex15_1.htm (EX-15.1) — 4KB
• mogo-ex20_1.htm (EX-20.1) — 3610KB
• mogo-ex97.htm (EX-97) — 41KB
• img94458297_0.jpg (GRAPHIC) — 4KB
• img94458297_1.jpg (GRAPHIC) — 4KB
• 0000950170-24-050593.txt (&nbsp;) — 22933KB
• mogo-20231231.xsd (EX-101.SCH) — 2295KB
• mogo-20231231_htm.xml (XML) — 5588KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Auditor Firm Id: # 85 Auditor Name: KPMG LLP Auditor Location: Vancouver, British Columbia, Canada Table of Contents TABLE OF CONTENTS ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 4 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 4 ITEM 3. KEY INFORMATION 4 ITEM 4. INFORMATION ON THE COMPANY 26 ITEM 4A. UNRESOLVED STAFF COMMENTS 44 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 45 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 69 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 79 ITEM 8. FINANCIAL INFORMATION 82 ITEM 9. THE OFFER AND LISTING 83 ITEM 10. ADDITIONAL INFORMATION 84 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 97 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 98 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 99 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 99 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 100 ITEM 16 . [RESERVED] 102 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 107 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 107 ITEM 19. EXHIBITS 108 Table of Contents INTRODUCTION Unless otherwise noted or the context indicates otherwise "we", "us", "our", the "Company" or "Mogo" refer to Mogo Inc. and its direct and indirect subsidiaries. This annual report on Form 20-F includes our audited consolidated financial statements for the years ended December 31, 2021, 2022 and 2023 and as of December 31, 2021, 2022 and 2023, which are presented in Canadian dollars. Amounts in this annual report on Form 20-F are stated in Canadian dollars unless otherwise indicated. On June 21, 2019, we completed our plan of arrangement (the " Arrangemen t") with Mogo Finance Technology Inc (" Mogo Finance "). In connection with the Arrangement, the Company was continued into British Columbia and changed its name from Difference Capital Financial Inc. to Mogo Inc. The Arrangement is accounted for as a reverse acquisition of the Company by Mogo Finance under IFRS 3 - Business combinations, and accordingly, beginning with the second quarter of 2019, the Company's financial statements, management's discussion and analysis and all other documents filed with securities commissions or similar authorities in each of the provinces and territories of Canada reflect the continuing operations of Mogo Finance. See "Item 4 –A – History and Development of the Company" for more information regarding the Arrangement. This annual report on Form 20-F may refer to trademarks, trade names and material which is subject to copyright and which are protected under applicable intellectual property laws and are the property of Mogo. Solely for convenience, our trademarks, trade names and copyrighted material referred to in this annual report on Form 20-F may appear without the or symbol, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights to these trademarks, trade names and copyrights. All other trademarks

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. 4 Table of Contents D. Risk Factors In addition to any other risks contained in this annual report on Form 20-F, as well as our management's discussion and analysis and consolidated financial statements and accompanying notes, the risks described below are the principal risks that could have a material and adverse effect on our business, financial condition, results of operations, cash flows, future prospects or the trading price of our Common Shares. This annual report on Form 20-F also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in the forward-looking statements as a result of a number of factors, including the risks described below. See "Cautionary Note Regarding Forward Looking Statements". Risk Factors Summary: The following is a summary of the principal risks that could adversely affect our business, operations and financial results. Worsening economic conditions may cause our members' loan default rates to increase and harm our operating results. Our allowance for loan losses is determined based upon both objective and subjective factors and may not be adequate to absorb loan losses. We rely on our proprietary credit scoring model in the forecasting of loss rates. If we are unable to effectively forecast loss rates, it may negatively impact our operating results. Our risk management efforts may not be effective. We have a history of losses and may not achieve consistent profitability in the future. In addition, if we continue to grow, we may not be able to manage our growth effectively. Carta's business is reliant on contracts with key customers operating in the payment industry. We may require additional capital to pursue our business objectives and respond to business opportunitie

View Full Filing

View this 20-F filing on SEC EDGAR