MoneyLion reports Q1 EPS 60c vs. ($1.29) last year

Reports Q1 revenue $121M, consensus $116.31M…”Our results in the first quarter of 2024 reflect MoneyLion’s continued momentum, demonstrating the strength of our business model and highlighting our ongoing commitment to investing in transformative technologies that redefine the way consumers buy financial products,” said Dee Choubey, MoneyLion’s co-founder and Chief Executive Officer. “As we continue to execute on our growth pillars in 2024, we have a lot of exciting opportunities in front of us as we optimize conversion in our massive top-of-funnel. We continue to build towards becoming the ultimate destination for matching consumer needs with the right financial products. We are leading the way with our AI-powered financial product search capabilities, deepening our presence in product verticals in our marketplace, building intuitive developer tools for our enterprise partners and expanding our distribution through strategic partnerships.” “MoneyLion is off to a great start to 2024. We generated record revenue, record Adjusted EBITDA, and record GAAP net income, and generated $0.60 of diluted EPS, a significant profitability milestone for MoneyLion as we continue to scale. Moreover, our Q1 results exceeded the high end of our guidance range across all metrics. For the second quarter of 2024, we expect revenue of $125 to $130 million and Adjusted EBITDA of $17 to $20 million,” said Rick Correia, MoneyLion’s Chief Financial Officer.