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Nasdaq-listed MoneyHero Limited, which provides a prominent personal finance aggregation and comparison platform in Greater Southeast Asia, has reported a significantly narrowed net loss for the fourth quarter of 2024, alongside an improved Adjusted EBITDA loss.<\/p>\n
However, a deep dive into the financials reveals a sharp revenue decline in the quarter and a substantial decrease in cash reserves, painting a more complex picture than the headline figures might suggest.<\/p>\n
The company announced a net loss of US$18.8 million for the three months ended December 31, 2024, a marked improvement from the US$94.3 million loss in the same period last year. The Adjusted EBITDA loss also improved substantially to US$2.9 million in Q4 2024, compared to US$4.6 million in the prior year quarter.<\/p>\n
Also Read: Nasdaq-listed MoneyHero slashes 80 jobs to \u2018streamline operations\u2019<\/a><\/strong><\/p>\n For the full year 2024, the net loss narrowed sharply to US$37.8 million from US$172.6 million in 2023. The 2023 figure notably included US$143.4 million in non-operating expenses related to share-based payments for the merger with Bridgetown Holdings, finance costs, and changes in the fair value of financial instruments, which significantly impacted the prior year’s loss.<\/p>\n However, the focus on profitability appears to have come at a significant cost to the top line in the final quarter. Revenue decreased sharply by 40 per cent year-over-year to US$15.7 million in Q4 2024. For the full year 2024, revenue saw a slight decrease of 1 per cent year-over-year, totalling US$79.5 million.<\/p>\n The company attributes the Q4 revenue decline primarily to a “shift in focus toward diversifying revenue mix toward high-margin products such as insurance and wealth products, and the high base effect set during the same period last year with increased investment in marketing and customer acquisition”. While this strategic pivot towards higher-margin verticals like insurance and wealth is explicitly stated, the magnitude of the overall revenue drop in Q4 is striking.<\/p>\n Analysis of the revenue breakdown by vertical underscores this shift but also highlights the impact on the traditional core business. Revenue from credit cards, historically the largest vertical, plummeted from accounting for 75.7 per cent of total revenue in Q4 2023 (US$19.98 million) to 48.1 per cent (US$7.56 million) in Q4 2024. Conversely, insurance revenue increased its share from 7 per cent (US$1.93 million) to 14 per cent (US$2.13 million) in the same period.<\/p>\n Wealth products revenue saw the most dramatic percentage growth, increasing its share from 3 per cent US$0.81 million to 15 per cent US$2.40 million of total Q4 revenue.<\/p>\n For the full year, credit cards still dominated at 61.6 per cent of revenue, down from 74.7 per cent in 2023.<\/p>\n While the shift to higher-margin products is intended to improve the margin profile and generate more consistent revenue streams, the short-term impact is a significant reduction in overall quarterly revenue.<\/p>\n Operational efficiency and cost control were key themes for MoneyHero in 2024. Total operating costs and expenses, excluding net foreign exchange differences, decreased to US$25.2 million in Q4 2024 from US$45.6 million in the prior year.<\/p>\n However, the company notes that the Q4 2023 figure included “significant transaction costs associated with the listing as well as certain write-offs of intangible assets,” suggesting the comparison might be flattered by unusual expenses in the prior year.<\/p>\n Furthermore, while advertising and marketing expenses decreased by 23 per cent in Q4 2024, they increased for the full year 2024 US$21.6 million compared to 2023 US$16.2 million. This full-year increase in marketing costs is cited as a primary reason for the widening of the Adjusted EBITDA loss for the full year 2024 (US$23.7 million) compared to 2023 (US$6.8 million).<\/p>\n Another point for potential scrutiny is the decrease in technology costs, which dropped from US$4.45 million in Q4 2023 to US$1.40 million in Q4 2024 and from US$9.52 million to US$7.43 million for the full year. While streamlined operations are mentioned, the company also stated it was focusing investments on “technology re-platforming, and data infrastructure”. The reduction in technology costs might appear at odds with significant investment in these areas.<\/p>\n Also Read: Jirnexu acquires CompareHero from Nasdaq-listed MoneyHero Group<\/a><\/strong><\/p>\n The transition from Universal Analytics to Google Analytics 4 (GA4), effective July 1, 2024, presents a challenge for tracking key performance metrics like monthly unique users, traffic, and clicks.<\/p>\n MoneyHero states that the methodologies are different and not comparable to prior periods, and they cannot quantify the extent of the impact. This lack of comparability makes it difficult for external observers to accurately assess trends in user engagement and acquisition efficiency based on historical data provided by the company.<\/p>\n MoneyHero Group Members did grow by 42 per cent year-over-year to 7.5 million, and Approved Application volumes increased by 21 per cent year-over-year in 2024, driven by insurance products.<\/p>\n Based on the provided data, MoneyHero is in a precarious but strategically shifting financial position.<\/p>\n The company ended 2024 with US$42.5 million in cash and cash equivalents, down significantly from US$68.6 million at the end of 2023. While the balance sheet is debt-free, this notable decrease in cash suggests a continued burn rate despite the improved profitability metrics in Q4. The wider full-year Adjusted EBITDA loss also supports a cash burn narrative for the year as a whole.<\/p>\n Profitability trends<\/strong>: The company has made progress in narrowing the net loss and improving Q4 Adjusted EBITDA loss. However, the full-year Adjusted EBITDA loss worsened. This indicates that while the Q4 performance was stronger, the business still incurred significant operational losses over the entire year. The target of achieving positive Adjusted EBITDA on a quarterly basis in the second half of 2025 highlights that profitability is not yet consistently achieved.<\/p>\n Revenue headwinds<\/strong>: The sharp 40 per cent drop in Q4 revenue is a significant concern, even if explained by a strategic shift. The success of the pivot to higher-margin products needs to compensate for the decline in the core credit card business and eventually drive overall revenue growth.<\/p>\n Cost management<\/strong>: The company is clearly focused on cost controls and operational efficiency. While Q4 operating costs were lower year-over-year, the context of prior year non-recurring costs and the increase in full-year marketing spend complicate the picture. The significant reduction in technology costs also warrants closer examination regarding its impact on future platform capabilities.<\/p>\n In summary, MoneyHero is actively executing a strategic pivot towards higher-margin verticals, which has impacted its short-term top-line revenue, particularly in Q4. While this strategy, coupled with cost controls, helped improve Q4 profitability metrics and significantly narrow the net loss for the year (aided by reduced one-off merger costs), the company is still operating at a loss on an Adjusted EBITDA basis for the full year and saw a significant reduction in its cash balance.<\/p>\n The US$42.5 million in cash provides some runway, but sustained cash burn would necessitate further action.<\/p>\n The key test for MoneyHero in 2025 will be whether the growth in insurance and wealth products can offset the decline in credit cards, drive overall revenue back towards growth (with a target of US$100 million), and achieve consistent positive Adjusted EBITDA in the latter half of the year.<\/p>\n —<\/p>\n Enjoyed this read? Don\u2019t miss out on the next insight. Join our WhatsApp channel<\/a> for real-time drops.<\/p>\n The image was generated using Grok.<\/p>\n The post Profitability gains mask deeper challenges for MoneyHero in Q4 2024<\/a> appeared first on e27<\/a>.<\/p>\n<\/h1>\n<\/h3>\n<\/h3>\n<\/h3>\n<\/h3>\n<\/h3>\n<\/h3>\n<\/h3>\n<\/h3>\n","protected":false},"excerpt":{"rendered":" Nasdaq-listed MoneyHero Limited, which provides a prominent personal finance aggregation and comparison platform in Greater Southeast Asia, has reported a significantly narrowed net loss for the fourth quarter of 2024, alongside an improved Adjusted EBITDA loss. However, a deep dive into the financials reveals a sharp revenue decline in the quarter and a substantial decrease […]<\/p>\n","protected":false},"author":1,"featured_media":1218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/posts\/1216"}],"collection":[{"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/comments?post=1216"}],"version-history":[{"count":2,"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/posts\/1216\/revisions"}],"predecessor-version":[{"id":1219,"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/posts\/1216\/revisions\/1219"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/media\/1218"}],"wp:attachment":[{"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/media?parent=1216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/categories?post=1216"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.fresnoforeclosure.com\/index.php\/wp-json\/wp\/v2\/tags?post=1216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Revenue drop amid strategic pivot<\/p>\n
Vertical performance: Credit cards plunge, wealth surges<\/p>\n
Operational efficiency efforts in focus<\/p>\n
Technology costs fall despite investment messaging<\/p>\n
Growth in user base and applications<\/p>\n
Cash position declines despite profitability gains<\/p>\n
Outlook: Turning the strategic shift into growth<\/p>\n
Strategic transition still a work in progress<\/p>\n