Welcome to our dedicated page for MoneyHero news (Ticker: MNY), a resource for investors and traders seeking the latest updates and insights on MoneyHero stock.
MoneyHero Limited (NASDAQ: MNY) is a pioneering personal finance aggregation and comparison company based in Greater Southeast Asia. The firm's core business revolves around operating online platforms that allow consumers to compare and choose from a variety of financial products, including credit cards, personal loans, mortgages, insurance, and more. Their platforms connect these consumers with appropriate financial product providers, who in turn, pay MoneyHero for placing their products on these platforms.
In 2023, MoneyHero reported an impressive average of 9.1 million Monthly Unique Users, indicating its extensive reach and popularity in the region. The company operates in key markets such as Singapore, Hong Kong, Taiwan, the Philippines, and Malaysia, each served with localized brands that cater to the specific needs of the local populace.
MoneyHero recently rebranded from Hyphen Group, also known as CompareAsia Group, positioning itself as a leader in fintech innovation. A notable recent achievement is their strategic partnership with InsureMO, aiming to create the premier digital insurance aggregation and comparison platform in the region. This partnership integrates InsureMO’s middleware platform, allowing consumers to easily discover, compare, and purchase insurance policies, thus enhancing the overall consumer experience.
Financially, MoneyHero has faced challenges but continues to focus on growth and innovation. For the quarter ended September 30, 2023, the company reported net current liabilities of approximately US$(57.7) million. However, their growth strategy, which includes strategic investments and acquisitions, aims to turn around these figures by leveraging market opportunities and technological advancements.
MoneyHero is committed to maintaining transparency with investors and frequently updates them through earnings calls and webcasts. The upcoming Q3 2023 Earnings call is scheduled for December 6, 2023, and will be accessible via webcast and conference call, ensuring stakeholders are well-informed about the company's financial health and future strategies.
MoneyHero's innovative approach, robust platform, and strategic partnerships position it well to continue leading the personal finance aggregation and comparison market in Greater Southeast Asia.
MoneyHero (Nasdaq: MNY) announced the resignation of CFO Hao Qian, effective December 15, 2024. The company has appointed Danny Leung, current Group Finance Director, as interim CFO. Leung, who joined MoneyHero in 2024, brings over two decades of finance experience across growth-stage businesses and public companies.
Prior to MoneyHero, Leung served as Senior Financial Controller at Marga Group and Financial Controller at Kontafarma China Holdings. The outgoing CFO, Qian, cited personal reasons for his departure, wanting to be closer to family in China. During his tenure, Qian helped improve finance functions, restructured teams, cut costs, and streamlined revenue streams.
The company has initiated a formal search process for a permanent CFO with support from global executive search advisors.
MoneyHero (Nasdaq: MNY) announced the resignation of CFO Hao Qian, effective December 15, 2024. The company has appointed Danny Leung, current Group Finance Director, as interim CFO. Leung, who joined MoneyHero in 2024, brings over two decades of finance experience from roles at Marga Group, Kontafarma China Holdings, Lee Kum Kee, and Deloitte.
During his tenure, Qian helped improve finance and accounting functions, restructured teams, cut costs, and streamlined revenue streams. The company has initiated a formal search process for a permanent CFO with support from global executive search advisors.
MoneyHero (MNY) reported Q3 2024 results with revenue of US$20.9 million, up 6% year-over-year. The company achieved a net income of $5.7 million compared to a Q2 net loss of $(12.2) million, primarily driven by unrealized foreign exchange gains. Adjusted EBITDA improved by 40% quarter-on-quarter to $(5.5) million.
Key highlights include: Personal Loans and Mortgages revenue grew 34% YoY, Wealth/Investment product revenues increased nearly 5x YoY, and Insurance revenue grew 36% YoY. The company maintains a debt-free balance sheet with US$47.7 million in cash. Geographic performance showed mixed results with Hong Kong revenue up 18% YoY to $8.1M, Philippines up 49% to $4.0M, while Singapore declined 13% to $7.9M.
MoneyHero (Nasdaq: MNY), a leading personal finance comparison platform in Greater Southeast Asia, has scheduled its third quarter 2024 financial results announcement for Tuesday, December 10, 2024, before market opening. The company will host a conference call to discuss the results at 8:00 a.m. EST on the same day. Interested parties can access the webcast and audio conference through provided links, with the webcast replay available on the Investor Relations website for 12 months after the event.
MoneyHero (Nasdaq: MNY) reported strong Q2 2024 results with revenue increasing 24% year-over-year to US$20.7 million. Key highlights include:
- Singapore revenue surged 68% YoY to US$9.0 million
- Hong Kong revenue grew 19% YoY to US$7.3 million
- Insurance product revenue increased 89% YoY to US$2.2 million
- Approved applications up 50% YoY to 211,000
- MoneyHero Group Members grew 53% YoY to 6.5 million
Despite growth, the company reported a loss of US$(12.2) million and Adjusted EBITDA loss of US$(9.3) million due to strategic investments. MoneyHero expects to achieve Adjusted EBITDA profitability on a monthly basis by Q4 2024, supported by operational efficiency measures and focus on higher-margin products.
MoneyHero (Nasdaq: MNY), a leading personal finance aggregation and comparison platform in Greater Southeast Asia, has announced it will release its second quarter 2024 results on Thursday, September 19, 2024 before market opens. The company will hold a conference call to discuss the results at 8:00 a.m. EST on the same day.
Investors and interested parties can access the webcast or audio conference through provided registration links. The webcast replay will be available on the Investor Relations website for 12 months following the event.
MoneyHero (NASDAQ: MNY), the leading personal finance and digital insurance aggregation platform in Southeast Asia, signed a strategic transaction with Malaysian fintech company, Jirnexu Pte. , the parent company of RinggitPlus. Jirnexu Sdn. Bhd. will acquire the CompareHero brand, its website, domain names, select user data, and IP rights from MoneyHero. MoneyHero will retain an equity stake in Jirnexu Pte. The deal is set to close in early July 2024. CEO Rohith Murthy emphasized that the transaction allows MoneyHero to reallocate resources to core markets like Singapore, Hong Kong, Taiwan, and the Philippines while maintaining long-term investment in Malaysia. CompareHero, launched by MoneyHero in 2013, will continue under Jirnexu Sdn. Bhd.'s management.
MoneyHero Group has appointed Steve Teichman to its Board of Directors, effective immediately. Teichman, currently Counsel of Pacific Century Group and Managing Director of PineBridge, brings over 30 years of senior legal and financial experience.
He has advised Fortune 500 companies and U.S. publicly traded firms, and he has a deep understanding of corporate transactions, M&A, and venture capital. CEO Rohith Murthy highlighted Teichman's extensive knowledge and strategic alignment with MoneyHero's growth plans.
Teichman's appointment aims to leverage his global expertise to boost MoneyHero's operations in APAC and strengthen its foothold in U.S. capital markets. This move signifies a strategic enhancement to MoneyHero's leadership amid its scaling efforts post-Nasdaq listing.
MoneyHero Group (NASDAQ: MNY) reported a 24% year-over-year revenue growth for Q1 2024, reaching US$22.2 million. Key growth drivers included a 72% increase in approved applications and a 44% rise in insurance brokerage revenue. Despite these gains, the company reported an adjusted EBITDA loss of US$(6.4) million, attributed to increased marketing and operational costs to expand market share. Singapore and Hong Kong showed strong revenue growth, while Taiwan and the Philippines faced declines due to market exits and revised pricing terms. The company remains debt-free with a strong cash position of US$60 million as of March 31, 2024.
MoneyHero, a leading personal finance comparison platform in Southeast Asia, announced the release of its Q1 2024 financial results on June 24, 2024, before market opens. A conference call to discuss the results will be held the same day at 8:00 a.m. EST. The event will be accessible via webcast and audio conference, with replays available on the Investor Relations website for 12 months.
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