MoneyHero (MNY) Q4 2024 earnings summary

Executive summary

• Q4 2024 net loss narrowed to $18.8M from $94.3M year-over-year, with adjusted EBITDA loss improving to $2.9M, the best since going public.

• Full year 2024 net loss reduced to $37.8M from $172.6M, reflecting lower non-operating expenses and improved operational efficiency.

• Registered members grew 42% year-over-year to 7.5M, and approved applications rose 21% to 767,000, reflecting strong user engagement and trust.

• Strategic focus on high-margin verticals, operational efficiency, and cost control is driving transformation and improved financial quality.

Financial highlights

• Q4 2024 revenue declined 40% year-over-year to $15.7M due to a strategic pivot and high prior-year base, but insurance and wealth product revenues surged 10% and 195% respectively in the quarter.

• Full-year insurance revenue grew 40% to $8.2M, and wealth revenue rose 138% to $8.5M, both now representing double-digit shares of total revenue.

• Cost of revenue dropped 62% year-over-year to $6.6M in Q4; advertising and marketing expenses fell 23% year-over-year.

• Adjusted EBITDA loss improved to $2.9M from $4.6M year-over-year in Q4; full-year adjusted EBITDA loss was $23.7M, reflecting higher H1 investments and public company costs.

• Total operating costs and expenses (excluding FX) decreased to $25.2M from $45.6M year-over-year.

Outlook and guidance

• Targeting $100M in revenue and positive adjusted EBITDA on a quarterly basis in the second half of 2025.

• Expecting continued margin improvement and sustainable growth, with disciplined cost controls and focus on high-margin verticals, especially insurance.

• AI and automation initiatives underway to drive efficiency and innovation.

• Management expects adjusted EBITDA to consistently improve through 2025.