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Malka, an adaptive content studio and subsidiary of fintech leader MoneyLion (NYSE: ML), has appointed Chris Apostle and Bill Davaris as co-CEOs and Paige McCrensky as its first Chief Brand Officer. The leadership change aims to enhance Malka's capability to produce dynamic content for modern brands. Since its acquisition by MoneyLion in 2021, Malka has significantly boosted MoneyLion's social media presence. Apostle and Davaris bring extensive experience from leading agencies and aim to convert insights into compelling narratives. McCrensky, with a strong background in marketing from Getty Images and Ogilvy, will focus on branding and strategic partnerships. Malka collaborates with major brands like Amazon and L'Oreal, emphasizing its expertise in content creation.
MoneyLion Inc. announced its first quarter 2024 results with record revenue of $121 million, up 29% year-over-year, record GAAP net income of $7 million, and diluted EPS of $0.60. The company's Adjusted EBITDA reached $23 million, representing a 19.4% margin. MoneyLion is experiencing significant growth, with total customers up 98% to 15.5 million, total products up 73% to 25.3 million, and total originations up 42% to $717 million. The company exceeded its Q1 guidance and provided strong financial guidance for the second quarter of 2024, expecting revenue between $125 to $130 million and Adjusted EBITDA of $17 to $20 million.