Q1 2024 MoneyLion Inc Earnings Call Transcript
Key Points
- MoneyLion Inc reported a record quarterly revenue of $121 million, marking a 29% year-over-year growth.
- The company achieved a record adjusted EBITDA of $23 million for the quarter, reflecting a significant margin expansion.
- MoneyLion Inc generated GAAP net income of $7 million and diluted earnings per share of $0.6, reaching a profitability milestone.
- Customer base grew to 15.5 million, a 98% increase year-over-year, demonstrating strong market penetration and consumer trust.
- The company's marketplace-first strategy and robust enterprise partner network continue to drive cross-sell opportunities and revenue diversification.
- Despite overall growth, there were lower conversions on the enterprise side of the business due to reduced marketing spend and macroeconomic headwinds.
- The personal loans vertical continues to experience challenges due to the current high-interest rate environment, impacting overall conversion rates.
- Some strategic decisions in the media business led to a quarter-over-quarter decline in certain non-core revenue segments.
- The forward-flow financing arrangement, while beneficial for cash efficiency, necessitates careful management to avoid potential impacts on financial stability.
- Guidance for the second quarter suggests a potential decrease in EBITDA margin compared to the first quarter, indicating possible fluctuations in profitability.
Good day and welcome to MoneyLion Inc's first quarter 2024 earnings call. (Operator Instructions)'
Please note that this conference is being recorded before we go further, I would like to turn the conference over to Sean Horgan, money lines, Head of Investor Relations.
Thank you, operator. Hi, everyone. Thank you for joining us for our first quarter 2024 earnings conference call. Moneyline see detail Bay and CFO, Rick career. With me today to discuss our results, you can find the presentation accompanying our earnings press release on our Investor Relations website at investors dot Moneyline.com.
Please note that any forward-looking statements in this commentary are subject to our Safe Harbor statement, which can be found in our SEC filings and our earnings press release. With that, I will turn the call over to Dave.
Thank you, Sean. Good morning, and thank you all for joining
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
