The following is a summary of the MoneyLion Inc. (ML) Q3 2024 Earnings Call Transcript:

Financial Performance:

• MoneyLion Inc. reported a record Q3 revenue of $135 million, which is a 23% year-over-year growth.

• Adjusted EBITDA for the quarter was $24 million, which is above the guided range and reflects an adjusted EBITDA margin of 18%.

• They ended the quarter with a cash balance of $112 million, increasing from $98 million at the end of the second quarter.

Business Progress:

• MoneyLion introduced strategic initiatives such as MoneyLion Checkout, which is expected to improve conversion metrics and simplify the financial product shopping experience.

• Record enterprise revenue of $45 million was noted this quarter, showing a growth of 18% quarter-over-quarter.

• Significant customer growth was achieved with a total of 18.7 million customers by the end of Q3, a 54% year-over-year increase.

Opportunities:

• MoneyLion's enterprise business is anticipated to continue its growth, favored by macroeconomic conditions such as decreasing interest rates.

• Expansion and innovation in key verticals such as credit cards, mortgages, and auto insurance are expected to significantly contribute to future growth.

Risks:

• Regulatory changes and compliance challenges remain as potential risks, especially with the evolving landscape of financial services regulation.

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