• Revenue: USD 20.9 million, a 6% year-over-year growth.
• Adjusted EBITA: Improved from a loss of USD 9.3 million in Q2 to a loss of USD 5.5 million in Q3.
• Philippines Revenue Growth: Increased by 49% year-over-year.
• Hong Kong Revenue Growth: Increased by 18% year-over-year.
• Singapore Revenue: Decreased by 13% year-over-year.
• Taiwan Revenue: Increased by 5% year-over-year to USD 1.0 million.
• B2B Business Revenue: USD 3.5 million, representing 17% of group revenue.
• Insurance Revenue: Increased by 36% year-over-year to USD 2.1 million.

• Warning! GuruFocus has detected 2 Warning Signs with MNY.

Release Date: December 10, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• MoneyHero Ltd (NASDAQ:MNY) improved its adjusted EBITA by over 40% quarter-on-quarter, reducing losses from GBP9.3 million in Q2 to GBP5.5 million in Q3.
• The company achieved significant growth in high-margin product categories, with personal loans and wealth and investment-related revenues growing 34% and nearly five times year-over-year, respectively.
• The launch of a centralized customer data platform provides a unified view of customers, enhancing cross-selling opportunities and marketing efficiency.
• MoneyHero Ltd (NASDAQ:MNY) introduced a Car Insurance vertical in Hong Kong with real-time pricing capabilities, improving customer experience and strengthening its market position.
• The company rolled out a membership and loyalty program, enabling users to create accounts, apply for products with one click, and track rewards in real-time, enhancing user engagement and loyalty.

Negative Points

• MoneyHero Ltd (NASDAQ:MNY) faced challenges in Singapore due to fluctuations in provider campaigns, resulting in a 13% year-over-year revenue decrease.
• The company reported an adjusted EBITA loss of negative USD 5.5 million for the quarter, impacted by investments in customer acquisition, brand building, and technology infrastructure.
• The Singapore market revamp is still in early stages, with full benefits expected in future quarters.
• The company is still in the process of realizing the full impact of its restructuring and reorganization efforts, with complete benefits anticipated in the following quarter.
• MoneyHero Ltd (NASDAQ:MNY) experienced significant unrealized FX exchange gains, impacting net income, which may not be sustainable in future quarters.

Q & A Highlights

Q: What challenges do you foresee in scaling the Car Insurance platform across your core markets, and how does the integration of Boltech Insurance exchange technology differentiate your platform? A: We see opportunities rather than challenges, thanks to our partnership with Boltech. Our B2C car insurance marketplace, powered by Boltech, offers real-time pricing and end-to-end purchasing journeys, setting a new benchmark for customer experiences. Additionally, we are exploring B2B opportunities, such as white-labeled comparison tools, to achieve significant scale and provide value to a wider network of users.

Q: Can you provide insight into how your redesigned Mobile app and UI enhancements are resonating with users? Are there any metrics indicating these updates are driving higher margin revenue streams? A: The Mobile app addresses consumer challenges by providing a GPS-enabled repository of real-time offers, enhancing credit card usage post-acquisition. This drives higher engagement and frequency, creating opportunities for relevant product services and advertising. While it's early days, we are optimistic about the app's potential to enhance user engagement and drive incremental revenue.

Q: Can you explain the trajectory of your operating results, particularly regarding EBITA and revenue? A: We have narrowed down our EBITA losses and improved margins. Our focus is on diversifying revenue through higher margin products like personal loans, investment, and insurance. We are not fixated on hitting a specific revenue number each quarter but are pleased with the growth trajectory of our high-margin products.

Q: Could you elaborate on the OCI situation and its impact on your financials? A: Our net income increased to USD 5.7 million in Q3 2024, driven by unrealized FX exchange gains due to fluctuations in USD versus SGD and PHEB. This had a significant impact on our unadjusted, unrealized FX.

Q: What are your marketing priorities for FY25, and are there any new product developments in the pipeline? A: Our marketing strategy focuses on building trust through organic growth and reducing reliance on paid traffic. We are enhancing SEO strategies, running high-value campaigns, and exploring ad monetization strategies. In terms of product development, we are excited about our Mobile app, credit scoring feature, car insurance platform, and travel insurance enhancements.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.