MoneyLion Reports Record 2024 Revenue and Acquisition Deal

Moneylion Inc. ( (ML) ) has released its Q4 earnings. Here is a breakdown of the information Moneylion Inc. presented to its investors.

MoneyLion Inc., a prominent player in the financial technology sector, offers a digital ecosystem designed to empower consumers with personalized financial products and services. The company reported a record revenue of $546 million for the fiscal year 2024, marking a 29% increase from the previous year, alongside a net income of $9 million and a diluted earnings per share of $0.76. MoneyLion also achieved a record adjusted EBITDA of $92 million, reflecting a 98% growth year-over-year.

The company’s financial performance highlights include a significant 40% increase in total revenue for the fourth quarter of 2024 compared to the same period in 2023. MoneyLion’s customer base expanded by 46% to 20.4 million, with total products growing by 48% and total originations reaching $3.1 billion, a 38% increase year-over-year. These figures underscore the company’s robust growth and successful execution of its strategic initiatives.

In a strategic development, MoneyLion has entered into a definitive agreement to be acquired by Gen Digital Inc., a leader in digital freedom solutions. This acquisition is anticipated to close in the first half of Gen’s fiscal year 2026, subject to customary closing conditions. The transaction is expected to enhance MoneyLion’s capabilities and market reach, aligning with its mission to provide comprehensive financial solutions.

Looking ahead, MoneyLion’s management remains optimistic about the company’s growth trajectory and strategic direction. The acquisition by Gen Digital is poised to bolster MoneyLion’s position in the financial technology landscape, offering expanded opportunities for innovation and customer engagement.