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 engagement and demand.

• Strategic focus on high-margin verticals (insurance, wealth), cost control, and operational streamlining led to improved margins and a leaner cost base.

Financial highlights

• Q4 2024 revenue declined 40% year over year to $15.7M, mainly due to a strategic pivot and high prior-year base.

• Insurance revenue increased 10% year over year to $2.1M in Q4 (14% of revenue); wealth revenue up 195% to $2.4M (15% of revenue).

• Full-year insurance and wealth revenues surged 40% to $8.2M and 138% to $8.5M, respectively.

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

• 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.

Outlook and guidance

• Targeting $100M in revenue and positive adjusted EBITDA on a quarterly basis in H2 2025.

• Focus remains on scaling high-margin verticals, especially insurance, and maintaining tight cost controls.

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

• Expecting continued margin improvement and productivity gains through 2025.