Moneylion Inc. ( (ML) ) has released its Q3 earnings. Here is a breakdown of the information Moneylion Inc. presented to its investors.
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MoneyLion Inc. is a financial technology company that offers a comprehensive digital ecosystem for consumer finance, empowering users to make informed financial decisions through a platform that combines personalized financial products, content, and embedded finance solutions.
In its third-quarter earnings report for 2024, MoneyLion announced a record revenue of $135 million, marking a 23% increase from the previous year. The company also reported an adjusted EBITDA of $24 million, demonstrating a significant improvement in profitability metrics compared to the same period last year.
Key highlights from MoneyLion’s performance include a 54% year-over-year growth in total customers, reaching 18.7 million, and a 51% increase in total products to 30.7 million. The company’s strategic partnerships and new product launches, such as MoneyLion Checkout and collaborations with Nova Credit, TransUnion, and Plaid, are seen as catalysts for its growth. Additionally, MoneyLion’s management has raised its full-year 2024 revenue and adjusted EBITDA guidance, reflecting optimism about continued growth.
Looking ahead, MoneyLion projects further revenue acceleration and increased profitability, with expectations for the fourth quarter of 2024 set between $149 to $154 million in revenue and an adjusted EBITDA of $22 to $27 million. This outlook underscores MoneyLion’s potential for sustained expansion and market presence in the digital finance sector.
