Moneylion Q2 2024 Earnings Report
Key Takeaways
MoneyLion announced strong Q2 2024 results with record revenue of $131 million, a 23% increase year-over-year, and a net income of $3.1 million, a significant improvement from the previous year's net loss of $27.7 million. Adjusted EBITDA reached $18.5 million, representing a 14.2% margin. The company provided positive Q3 and full-year 2024 guidance.
Total revenues increased 23% year-over-year to $130.8 million.
Net income was $3.1 million, a substantial turnaround from a $27.7 million net loss in the same quarter last year.
Adjusted EBITDA was $18.5 million, compared to $9.2 million in the second quarter of 2023.
Total customers grew 73% year-over-year to 17.0 million.
Moneylion
Moneylion
Forward Guidance
MoneyLion anticipates continued growth and profitability, with revenue between $133 million and $138 million and Adjusted EBITDA between $18 million and $21 million for Q3 2024. Full-year 2024 revenue is expected to be between $525 million and $535 million, with Adjusted EBITDA between $80 million and $87 million.
Positive Outlook
- Revenue of $133 to $138 million expected for Q3 2024.
- Adjusted EBITDA of $18 to $21 million expected for Q3 2024.
- Full-year 2024 revenue projected between $525 million and $535 million.
- Full-year 2024 Adjusted EBITDA anticipated between $80 million and $87 million.
- Company expects to finish strong in the next two quarters and create significant momentum going into 2025.