MoneyLion (ML) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of $546 million in FY 2024, up 29% year-over-year, and net income of $9.1 million, reversing a $45.2 million loss in 2023.

• Adjusted EBITDA reached $92 million for FY 2024, a 98% increase year-over-year, with a 17% margin.

• Entered into a definitive agreement to be acquired by Gen Digital, with the transaction expected to close in the first half of Gen's FY 2026.

Financial highlights

• Q4 2024 revenue grew 40% year-over-year to $158.6 million; full-year revenue up 29% to $545.9 million.

• Q4 2024 net income was $1.7 million, compared to a $4.2 million loss in Q4 2023; full-year net income $9.1 million vs. $45.2 million loss in 2023.

• Adjusted EBITDA for Q4 2024 was $25.6 million, up 55% year-over-year; full-year Adjusted EBITDA $92 million, up 98%.

• Total customers grew 46% year-over-year to 20.4 million; total products up 48% to 34.1 million.

• Total originations reached $3.1 billion for FY 2024, up 38% year-over-year.

Segment performance

• Service and subscription revenue for FY 2024 was $533 million, up from $411 million in 2023.

• Net interest income on loan receivables was $12.9 million for FY 2024, up from $12.2 million in 2023.