MoneyLion Inc. - ML STOCK NEWS

Gen Digital (NASDAQ: GEN) has announced its acquisition of MoneyLion (NYSE: ML) for $82.00 per share in cash, valuing the deal at approximately $1 billion. MoneyLion shareholders will also receive one contingent value right (CVR) per share, potentially worth $23.00 in Gen common stock if certain conditions are met.

The acquisition extends Gen's capabilities from privacy and identity protection to comprehensive financial wellness through MoneyLion's personal finance platform. MoneyLion brings over 18 million customers and a B2B2C white-labeled AI recommendation platform. The transaction, unanimously approved by both boards, is expected to close in the first half of Gen's fiscal year 2026 and will be accretive to Non-GAAP EPS.

MoneyLion (NYSE: ML), a digital platform for consumer finance, announced its participation in the UBS Global Technology and AI Conference.

The event will be held on Wednesday, December 4, 2024 in Scottsdale, AZ. For more information or to schedule a one-on-one meeting, contact MoneyLion's investor relations team at ir@moneylion.com.

MoneyLion (NYSE: ML) has successfully completed a $70 million loan facility with Silicon Valley Bank to refinance its existing senior debt. The refinancing reduces the company's cost of capital by approximately 550 basis points and extends the debt maturity to 2029. The proceeds were used to repay approximately $65 million in outstanding debt, cover transaction fees, and provide working capital. Although the existing debt wasn't due until 2026, MoneyLion's strong financial position enabled it to secure better terms through this refinancing.

MoneyLion (NYSE: ML) reported strong Q3 2024 results with record revenue of $135.5 million, up 23% year-over-year. The company achieved net income before taxes of $0.5 million and Adjusted EBITDA of $24.4 million, representing an 18% margin. Total customers grew 54% to 18.7 million, while total products increased 51% to 30.7 million. Based on strong performance, MoneyLion raised its FY 2024 guidance, now expecting revenue of $536-541 million and Adjusted EBITDA of $88-93 million. The company projects Q4 2024 revenue of $149-154 million, representing 34% year-over-year growth at midpoint.

MoneyLion (NYSE: ML), a digital financial ecosystem provider, has announced its upcoming participation in the 2024 KBW Fintech Conference. The event is scheduled for Thursday, November 14, 2024 in New York, NY. Interested parties seeking additional information or one-on-one meeting opportunities can contact their conference representative or reach out to MoneyLion's investor relations team via ir@moneylion.com.

MoneyLion (NYSE: ML) has launched MoneyLion Checkout, a revolutionary marketplace solution that transforms how consumers interact with financial products. This new platform allows users to search, apply for, and complete transactions across numerous third-party financial products within the MoneyLion ecosystem. Key features include:

1. Seamless integration of consumer and third-party data with financial services partners
2. Real-time transaction completion across hundreds of providers
3. Automated pre-filling of application forms using consumer-permissioned data
4. Streamlined prequalification process with hosted decisioning models
5. AI-driven insights for better product alignment with consumer demand

Initial results show pilot partners have reduced data costs, increased customer application completion rates by 23.5%, and boosted revenue by 31.4%. MoneyLion Checkout will be available across MoneyLion's marketplace of over 500 distribution channels.

MoneyLion Inc. (NYSE: ML), a digital ecosystem for consumer finance, has announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024. The company will host an earnings conference call at 8:30 a.m. ET on the same day. Investors can access a live webcast of the call and supporting materials at investors.moneylion.com. A replay and transcript will be available on the website following the call.

For those wishing to join the call, the toll-free dial-in number is 1-800-715-9871, and the international dial-in number is 1-646-307-1963. The conference ID is 6861045. Participants are advised to call 5-10 minutes before the start time and ask for the MoneyLion third quarter 2024 earnings call.

MoneyLion (NYSE: ML) has released a new report on U.S. Hispanic Financial Literacy & Empowerment for 2024, conducted by The Harris Poll. Key findings include:

1. 24% of U.S. Hispanics prefer social media for financial guidance, compared to 17% of Non-Hispanics.

2. 45% of U.S. Hispanics want to learn more about saving money, versus 33% of Non-Hispanics.

3. 68% of U.S. Hispanics report lack of time to access financial resources, compared to 51% of Non-Hispanics.

4. U.S. Hispanic financial literacy rate is 54%, significantly lower than 69% for Non-Hispanics.

5. Only 53% of U.S. Hispanics have an emergency fund, compared to 67% of Non-Hispanics.

MoneyLion aims to address these disparities through initiatives like their 'No Stupid Questions' content series, focusing on quick, accessible financial education.

MoneyLion Inc. (NYSE: ML) has partnered with Nova Credit to integrate cash flow underwriting within its consumer finance ecosystem. This collaboration enables lenders on MoneyLion's platform to utilize Nova Credit's Cash Atlas™ analytics, providing a more comprehensive view of consumer financial health and expanding credit access.

The partnership allows credit issuers to leverage consumer-permissioned bank transaction data for more informed underwriting decisions. Concora Credit, a service provider for consumers with less-than-perfect credit, is among the first to utilize this capability. By combining embedded marketplace technology with enhanced data analytics, MoneyLion aims to expand credit access while enhancing risk management.

This integration strengthens MoneyLion's ability to provide financial institutions with better tools for credit decisions, potentially serving a broader range of consumers.