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MoneyHero Limited (MNY) Q2 2024 Earnings Call Transcript Summary

moomoo AI ·  Sep 19 10:57  · Conference Call

The following is a summary of the MoneyHero Limited (MNY) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • MoneyHero reported a 24% year-over-year revenue growth to $20.7 million in Q2 2024.

  • Significant growth contributors include Singapore with 68% and Hong Kong with 19% growth.

  • Adjusted EBITDA loss for Q2 2024 was reported at negative $9.3 million, up from a loss of negative $6.4 million in Q1 2024.

Business Progress:

  • Focus on expanding insurance products led to an 89% Y-O-Y revenue growth in this vertical.

  • Introduction of several new initiatives such as a mobile app, new car insurance vertical, and improved site architecture planned for upcoming quarters.

  • Strategic investment in AI and technology to drive efficiency and growth, particularly in their B2B business, Creatory.

  • Continued strategic exploration of mergers and acquisitions for market consolidation and growth.

Opportunities:

  • Revenue increase from insurance products and B2B services with new tech implementations and market expansions presents substantial growth opportunities.

Risks:

  • Geopolitical risks and potential economic fluctuations in key markets, along with continued EBITDA losses, represent financial stability risks.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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