Hier ein erstes Forum für dieses vielversprechende Startup. Nach ihrem Börsengang Mitte des Jahres planen sie ab nächstem Jahr ein positives EBITDA auszuweisen. Was haltet ihr von diesem Unternehmen und den Q3 Zahlen, die am 10.11.15 rausgekommen sind?
Wert und bin mittlerweile auch der Meinung, das dieser Wert kurzfristig wieder stark korrigiert! Es fehlen leider die Impulse. Keine positiven News und der Bitcoin Kurs hängt unter fest. Die Sorge, das auch der Bitcoin Kurs weiter fallen könnte ist groß. Ich glaube nicht mehr an die Zukunft von diesem Titel und werde in den Cannabis Sektor umschichten, um meine Verluste wieder wett zu machen. Hat mit VST auch funktioniert und da war ich Minus 60%. Hier bin ich mit einem - von ca. 30 % noch gut davor. Keine Kauf- oder Verkaufsempfehlung
Besser als noch mehr in die Miesen zu kommen. Sind 2,3 K gewesen die ich hier zusetzte. Verrechnet mit einem Plus von 1,3 K muss ich mindestens noch 1 K plus machen, um das Minus wieder wett zu machen. Habe Aleafia Health investiert die laufen viel viel besser und ich sehe da auch kurzfristig massig Potential! Keine Kauf oder Verkaufsempfehlung
liefern werden sie fallen. Genau das ist passiert und ich glaube, das sie weiter fallen werden. Ich würde hier höchstens bei 2 ? / Stk. wieder eine kleine Zock Position aufbauen. Ich wünsche allen investierten gute Kurse
Nik Priebe, CFA ? Financial Technology (416) 359-4293 Bottom Line:
Overall, Mogo delivered a very solid quarter. Core revenue growth accelerated to 80% y/y, driven by another meaningful step-up in subscription and service revenue. The long-term gross consumer loans portfolio increased 18% sequentially, and the charge-off rate remained stable. We continue to be encouraged by the strong uptake on existing products, and believe the shift towards more capital-light, recurring revenue sources will begin to resonate with investors. Reiterate Outperform (Speculative) rating.
Adjusted earnings came in above expectations. Mogo reported adjusted EPS of -$0.24, above consensus and our estimate at -$0.28. The beat appears largely attributable to better-than-expected revenue, owing to a combination of strong growth in the long-term lending portfolio and another meaningful step-up in contribution from subscription and service income.
Sixth-consecutive quarter of accelerating core revenue growth. Excluding the legacy short-term loans business, core revenue growth came in at an impressive 80% y/y. This result was largely driven by 110% growth in subscription and service revenue, as well as strong sequential growth in the long-term lending portfolio.
Exit of the legacy short-term lending business reflects an important milestone in the transformation of Mogo. As recently as Q1/15, short-term lending (an alternative product to payday loans) contributed as much as 80% of revenue. Since that time, revenue has increased 70% despite Mogo's full exit from the business. In our view, this underscores the underlying growth profile of Mogo's core products. To reinforce this point, we would highlight that loan fees associated with the short-term lending product accounted 25% of revenue in Q2/18. Despite the full exit of that business in Q3, total revenue was flat q/q, reflecting strong underlying growth from core products. In our view, the full exit of the short-term loans business reflects an important milestone as Mogo continues to transition towards more attractive revenue streams at an accelerated pace.
Revenue mix continues to shift to more attractive sources. As subscription and fee-based products continue to scale, Mogo's revenue mix continues to shift towards more attractive, capital-light, recurring revenue streams. This positive shift is expected to continue as the company seeks to evolve its wealth franchise and integrate a broader suite of products to the platform.
: Kommentar eines Anlegers zum Conference-Call:
Very impressed with the earnings and the conference call. Interesting to hear of their plans to partner with insurance companies, credit unions, etc in the provision of services through strategic partnerships. Lots of potential and opportunity...
Mogo (MOGO-TSX, Speculative Buy/$12 Target): Impressive progress under headline Q3 beat. Q3 results indicated positive movement on core business & new products/partnerships; major factors we suggested in Q3 preview on Nov 1st, while Mogo exits short term loans. Mogo has made an impressive revenue pivot to a more capital light business model in our ~18 months covering the stock. Short term loans were ~50% of Mogo?s revenue when we launched coverage in April 2017. This revenue line is now zero. Mogo has grown remaining top line well over 100% since then. While no specific announcements were made yesterday, we believe Mogo?s new product and potential partnership strategy appears to have expanded in scope since Q2 results in August. Specifically, the company?s product funnel appears to include possible wealth management products and cash back on pre-paid cards. Potential partners could include banks, insurance companies & credit unions. Potential announcements could be positive catalysts for the stock. These moves could expand Mogo?s reach as a mobile first, direct to consumer channel, increase customer engagement leading to higher subscription and services revenue growth. Our estimate revisions are minor and do not include new products, partnerships and channels (Android launch likely in 6-7 months). Finally, Mogo could self-finance the company?s loan/credit product and potentially securitize its loan book, accelerating the transition to a capital light revenue growth model. We value Mogo on a net core revenue basis (i.e. total revenue less loan fees and less funding interest): Mogo trades at ~1.6x 2019 core net sales vs. FinTech names at ~5.2x. Peer multiples appear to have gone up ~0.4x since our preview, while Mogo is unchanged. Our $12 target implies ~5x 2019 core net sales, roughly in-line with peers.