MoneyHero (MNY) Q3 2025 earnings summary

Executive summary

• Revenue grew 17% sequentially and 1% year-over-year to $21.1 million, marking the second consecutive quarter of double-digit sequential growth and improved revenue quality.

• Adjusted EBITDA loss improved 68% year-over-year to -$1.8 million, with margin improving from -26.5% to -8.4%.

• Strategic reset and focus on higher-margin verticals, supported by AI-driven operating leverage, are driving structural profitability and value creation.

• Insurance and Wealth now represent 23% of revenue, up from 21% a year ago, with Insurance up 13% and Wealth up 5% year-on-year.

• Operating costs excluding FX fell 13% year-on-year to $23.9 million, with significant reductions in technology and employee benefit expenses due to AI automation.

Financial highlights

• Q3 revenue was $21.1 million, up 17% sequentially and 1% year-over-year.

• Adjusted EBITDA loss improved to -$1.8 million from -$5.5 million a year ago, a 68% improvement.

• Adjusted EBITDA margin improved over 1,800 basis points year-over-year, reaching -8.4%.

• Net loss narrowed from $19.6 million to $5.7 million over the past nine months.

• Technology costs dropped from $2 million to $0.9 million; employee benefit expenses fell from $5.7 million to $4.2 million.

Outlook and guidance

• Q4 is expected to be the first quarter of positive Adjusted EBITDA since listing, driven by high-margin verticals and cost discipline.

• Full-year 2026 Adjusted EBITDA is projected to be significantly better than 2025, with continued margin expansion and free cash flow generation.

• Continued focus on scaling profitability with AI and high-margin verticals, while maintaining a tightly controlled cost base.