# EDGAR Filing Document

**Accession Number:** 0001602842
**File Stem:** 0001477932-25-007966
**Filing Date:** 2025-11
**Character Count:** 18985
**Document Hash:** 35f0c25d0f537e7907a0d8fafa4fb18b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-25-007966.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0001477932-25-007966

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251107

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mogo Inc.
- **CENTRAL INDEX KEY:** 0001602842
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38409
- **FILM NUMBER:** 251461609

**BUSINESS ADDRESS:**
- **STREET 1:** 2100-401 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6B 5A1
- **BUSINESS PHONE:** 604-659-4380

**MAIL ADDRESS:**
- **STREET 1:** 2100-401 WEST GEORGIA STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6B 5A1

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mogo Finance Technology Inc.
- **DATE OF NAME CHANGE:** 20140317

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mogo Finance Technology, Inc.
- **DATE OF NAME CHANGE:** 20140317

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

For the month of **November 2025**

Commission File Number: **001-38409**

---

| |
|:---|
| **Mogo Inc.**  |
| (formerly known as Mogo Finance Technology Inc.) |

---

**516-409 Granville St.**

**Vancouver, British Columbia**

<u>**V6C 1T2, Canada**</u>

(*Address of principal executive office*s)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

☒ Form 20-F ☐ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Mogo Inc.** | **Mogo Inc.** |
| Date: November 7, 2025  | By: | */s/ Gregory Feller* |
|  |  | Name: Gregory Feller |
|  |  | Title: President & Chief Financial Officer |

---

**Form 6-K Exhibit Index**

---

| | |
|:---|:---|
| **Exhibit Number** | **Document Description** |
| [99.1](mogo_ex991.htm) | [Press release dated November 7, 2025, announcing that Mogo has reported results for Q3 2025](mogo_ex991.htm) |

---

## Exhibit 99.1

**EXHIBIT 99.1**

**Mogo Reports Continued Platform Growth and Record Assets Under Management in Q3 2025**

***Assets Under Management Reach Record $498 Million; Bitcoin Holdings Increase Over 300% Quarter-over-Quarter***

***Wealth Revenue Up 27% Year-over-Year; Payments Revenue<sup>1</sup> Up 11% Year-over-Year***

***Adjusted EBITDA Margin<sup>2</sup> of 11.6%***

***Mogo Raises 2025 EBITDA Guidance on Strong Platform Performance***

*Mogo reports in Canadian dollars and in accordance with IFRS*

**Vancouver, British Columbia, November 7, 2025** – Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) ("Mogo" or the "Company"), a digital wealth and payments business, today announced its financial and operational results for the third quarter ended September 30, 2025.

"Q3 was another quarter of disciplined execution," said David Feller, Founder & CEO. "Our biggest focus was advancing Intelligent Investing, a reimagined wealth platform that unifies MogoTrade and Moka into a single brand and experience, combining managed and self-directed investing under one behavioral operating system for building wealth. The problem we're solving is simple but profound: most investing platforms are designed around engagement and firm profits, not investor outcomes."

Feller continued: "After studying years of real trading data across our platforms, we confirmed that most investors don't underperform because of fees, they underperform because of behavior. Intelligent Investing is built to fix that, centering on the principle of temperament over activity. Beginning this quarter and continuing into Q1, we'll roll out this unified, behaviorally aligned system to help more Canadians not just invest better, but become better investors - one of the largest untapped opportunities in wealth creation."

"Our Q3 results reflect sustained momentum across our two core growth pillars, wealth and payments, which continue to scale organically and are well-positioned for profitable expansion into 2026," said Greg Feller, President & CFO. "We continue to generate positive EBITDA and consistent top-line growth across both areas while taking important steps to strengthen our balance sheet through strategic monetizations, including the successful sale of a portion of our WonderFi holdings last quarter. As we prepare for the launch of our next-generation wealth platform, this will be a key growth focus for 2026 and beyond. With the wind-down of our legacy trading business now behind us and continued execution of our Bitcoin treasury strategy, we're entering 2026 with a stronger foundation and multiple tailwinds supporting our momentum."

***<u>Key Financial Highlights for Q3 2025</u>***

***Platform Scale & Transaction Growth***

· **Total Members:** 2.29 million, up 6% year-over-year.

· **Assets Under Management (AUM):** Record $498 million, up 22% year-over-year.

· **Payments Volume (excluding Canada):** $2.8 billion, up 12% year-over-year, reflecting strong international growth.

***Revenue & Growth Trends***

· **Adjusted Total Revenue<sup>3</sup>:** Up 2% year-over-year to $17.0 million

· **Adjusted Subscription & Services Revenue<sup>5</sup>:** Up 7% year-over-year to $10.3 million.

· **Wealth Revenue:** Up 27% year-over-year to $3.7 million, driven by continued momentum in managed portfolios and member adoption.

· **Payments Revenue<sup>1</sup>:** Up 11% year-over-year to $2.4 million, driven by stable, recurring transaction volume.

· **Rule of 40 (Subscription & Services)<sup>6</sup>:** 18.2% (6.6% growth + 11.6% margin).

***Profitability and Cash Flow***

· **Adjusted EBITDA<sup>3</sup>:** $2.0 million (11.6% margin), up from $1.9 million in Q2 2025 and compared with $2.1 million in Q3 2024.

· **Adjusted Net Loss<sup>3</sup>:** $3.4 million, primarily due to a $3.0 million revaluation loss on marketable securities and private investments.

· **Operating Cash Flow:** ($3.0) million, or $3.6 million before investment in loan receivables<sup>3</sup> **.** 

***Balance Sheet and Capital Position***

· **Total Cash and Investments**: $46.1 million, including:

○ $18.1 million in cash and restricted cash

○ $20.8 million in marketable securities

○ $7.1 million in private investments

· **Book Value** of approximately $77.5 million ($3.24 per share)

***<u>Strategic & Operational Highlights for Q3 2025</u>***

***Bitcoin Treasury Strategy***

In July 2025, Mogo's board approved a strategic initiative authorizing up to $50 million in Bitcoin allocations as a long-term reserve asset and capital benchmark. In Q3 2025, Mogo increased its Bitcoin holdings by over 300% from Q2, reaching $4.7 million, funded through excess cash and the monetization of investments while maintaining operational liquidity.

***Platform and Product Innovation***

Mogo continued to invest in its Intelligent Investing platform, integrating self-directed and managed investing under one modern interface. The new app, rolling out this quarter and continuing into Q1, represents a key milestone in Mogo's evolution toward helping Canadians invest smarter and more consistently through behavioral discipline and data-driven design.

***<u>Financial Outlook</u>***

*The outlook that follows made by Mogo, constitutes forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Mogo's control. Please see "Forward-looking Statements" below for more information.*

Mogo reiterated its revenue guidance for fiscal 2025 (as outlined with its year-end financial results on March 20, 2025), while increasing its full-year 2025 Adjusted EBITDA<sup>4</sup> guidance from $5–6 million to $6–7 million.

*<sup>1</sup>Effective at the end of Q1 2025, Mogo ceased payments operations in Canada to focus primarily on Europe. Excluding Canada, Carta's payments revenue from European transactions increased by 11% to $2.4 million compared to $2.2 million in Q3 2024.*

*<sup>2</sup>Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by Total Revenue*

*<sup>3</sup>Non-IFRS measure. For more information regarding our use of these non-IFRS measures and, where applicable, a reconciliation to the most comparable IFRS measure, see "Non-IFRS Financial Measures" in the Company's MD&A for the period ended September 30, 2025.*

*<sup>4</sup>Adjusted EBITDA is a non-IFRS measure. Management has not reconciled these forward-looking non-IFRS measures to their most directly comparable IFRS measure, net loss before tax. This is because the Company cannot predict with reasonable certainty and without unreasonable efforts the ultimate outcome of certain IFRS components of such reconciliations due to market-related assumptions that are not within our control as well as certain legal or advisory costs, tax costs or other costs that may arise. For these reasons, management is unable to assess the probable significance of the unavailable information, which could materially impact the amount of the future directly comparable IFRS measures.*

*<sup>5</sup>Adjusted subscription and services revenue is calculated by taking subscription and services revenue less legacy institutional brokerage business revenue*

*<sup>6</sup>Rule of 40 score is calculated by adding adjusted subscription and services revenue growth and adjusted EBITDA margin.*

**Conference Call & Webcast**

Mogo will host a conference call to discuss its Q3 2025 financial results at 11:00 a.m. ET on November 7, 2025. The call will be hosted by David Feller, Founder and CEO, and Greg Feller, President and CFO. To participate in the call, dial (289) 514-5100 or (800) 717-1738 (International) using conference ID: 86409. The webcast can be accessed at http://mogo.ai/investor-relations. Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected.

**Non-IFRS Financial Measures**

*This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are provided as additional information to complement the IFRS financial measures contained herein by providing further metrics to understand the Company's results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS financial measures, including Adjusted EBITDA, Adjusted net loss and Cash provided by (used in) operating activities before investment in gross loans receivable, to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. Our management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our capital expenditure and working capital requirements. For more information, please see "Non-IFRS Financial Measures" in our Management's Discussion and Analysis for the period ended September 30, 2025, which is available at www.sedarplus.com and at <u>www.sec.gov</u>.* 

*The following tables present a reconciliation of each non-IFRS financial measure to the most comparable IFRS financial measure.* 

***Adjusted Total Revenue***

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) |  |  |  |  |
|  | **Three months ended** | **Three months ended** | **Nine months ended** | **Nine months ended** |
|  | **September 30,** <br> **2025** | **September 30,** <br> **2024** | **September 30,** <br> **2025** | **September 30,** <br> **2024** |
| Total revenue | $16963 | $17685 | $51226 | $53163 |
| Less: legacy institutional brokerage business revenue |  | (995) | (593) | (3715) |
| Adjusted revenue | 16963 | 16690 | 50633 | 49448 |

---

***Adjusted Subscription and Services Revenue***

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) |  |  |  |  |
|  | **Three months ended** | **Three months ended** | **Nine months ended** | **Nine months ended** |
|  | **September 30,** <br> **2025** | **September 30,** <br> **2024** | **September 30,** <br> **2025** | **September 30,** <br> **2024** |
| Total subscription and services revenue | $10328 | $10689 | $31456 | $31816 |
| Less: legacy institutional brokerage business revenue |  | (995) | (593) | (3715) |
| Adjusted subscription and services revenue | 10328 | 9694 | 30863 | 28101 |

---

***Adjusted EBITDA***

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) |  |  |  |  |
|  | **Three months ended** | **Three months ended** | **Nine months ended** | **Nine months ended** |
|  | **September 30,** <br> **2025** | **September 30,** <br> **2024** | **September 30,** <br> **2025** | **September 30,** <br> **2024** |
| Net loss before tax | $(4608) | $(8192) | $(3111) | $(24330) |
| Credit facility interest expense | 1450 | 1726 | 4286 | 5114 |
| Debenture and other financing expense | 717 | 791 | 2444 | 2550 |
| Accretion related to debentures | 133 | 170 | 421 | 517 |
| Stock-based compensation | 577 | 579 | 1559 | 1724 |
| Depreciation and amortization | 1969 | 1966 | 5952 | 6426 |
| Revaluation loss (gain) | 2748 | 5284 | (3459) | 12497 |
| Other non-operating (income) expense | (1018) | (177) | (3142) | 68 |
| Adjusted EBITDA | 1968 | 2147 | 4950 | 4566 |

---

***Cash Provided by (used in) Operations before Investment in Gross Loans Receivable***

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) |  |  |  |  |
|  | **Three months ended** | **Three months ended** | **Nine months ended** | **Nine months ended** |
|  | **September 30,** <br> **2025** | **September 30,** <br> **2024** | **September 30,** <br> **2025** | **September 30,** <br> **2024** |
| Net cash (used in) provided by operating activities | $(3037) | $1530 | $(1544) | $(1809) |
| Net issuance of loans receivable | (6668) | (3300) | (15119) | (12230) |
| Cash provided by operations before investment in gross loans receivable | 3631 | 4830 | 13575 | 10421 |

---

**Adjusted net loss**

---

| | | | | |
|:---|:---|:---|:---|:---|
| ($000s) |  |  |  |  |
|  | **Three months ended** | **Three months ended** | **Nine months ended** | **Nine months ended** |
|  | **September 30,** <br> **2025** | **September 30,** <br> **2024** | **September 30,** <br> **2025** | **September 30,** <br> **2024** |
| Net loss before tax | $(4608) | $(8192) | $(3111) | $(24330) |
| Add back: |  |  |  |  |
| Stock-based compensation | 577 | 579 | 1559 | 1724 |
| Depreciation and amortization | 1969 | 1966 | 5952 | 6426 |
| Revaluation loss (gain) | 2748 | 5284 | (3459) | 12497 |
| Other non-operating (income) expense | (1018) | (177) | (3142) | 68 |
| Less: Revaluation loss (gain) related to marketable securities and investments | 3049 | 5757 | (477) | 13586 |
| Adjusted net loss | (3381) | (6297) | (1724) | (17201) |

---

**Forward-Looking Statements** 

*This news release contains "forward-looking statements" within the meaning of applicable securities legislation, including statements regarding the Company's plans to launch crypto trading, the plans to apply for regulatory approval in respect of crypto trading and any receipt of such approval, Mogo's capital allocation strategy, Mogo's strategic initiatives in respect of its wealth management and the integration of cryptocurrency in respect thereof. Forward-looking statements are typically identified by words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, many of which are outside of Mogo's control, including the receipt of any required regulatory approval. For a description of the risks associated with Mogo's business please refer to the "Risk Factors" section of Mogo's current annual information form, which is available at <u>www.sedarplus.com</u> and <u>www.sec.gov</u>. Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.*

**About Mogo**

Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is a financial technology company building systems for a more intelligent financial future. Through its wholly-owned subsidiaries, including Carta Worldwide, and its Intelligent Investing platforms, Mogo powers the infrastructure that moves money across businesses and platforms and helps individuals master the art of building wealth through discipline and behavioral edge. Its capital allocation strategy, anchored in Bitcoin and hard assets, reflects a core belief: true value endures when guided by clarity and discipline, not speculation.

Investor Relations

<u>investors@mogo.ca</u>

US Investor Relations Contact

Lytham Partners, LLC

Ben Shamsian

New York \| Phoenix

<u>shamsian@lythampartners.com</u><u> </u>

(646) 829-9701