From GlobeNewswire: 2024-06-24 07:30:00

MoneyHero Limited (Nasdaq: MNY) announced strong Q1 results, with revenue up by 24% year-over-year to $22.2 million. Key growth drivers include insurance brokerage, strong partner relationships, and operating leverage. The Company remains focused on long-term profitability through strategic investments and operational efficiencies. Q1 saw increased EBITDA loss due to growth investments. In Q1 2024, revenue by market showed significant growth in Singapore and Hong Kong, while facing challenges in the Philippines and Taiwan. Insurance product revenue increased by 44% year-over-year, contributing 8% to Group revenue. Total operating costs and expenses increased to $34.5 million. Adjusted EBITDA loss increased to $6.4 million in Q1 2024. MoneyHero Group Members grew by 59% to 5.9 million. Approved Application volumes increased by 72% year-over-year. The Company had a debt-free balance sheet with $60.0 million in cash and cash equivalents as of March 31, 2024.



Read more at GlobeNewswire:: MoneyHero Group Reports First Quarter 2024 Results