How did MoneyHero's revenue and expenses shift in Q3 2024?
5/9/2025 03:11am
**MoneyHero's revenue and expenses in Q3 2024 are not currently available.** However, insights from Q2 2024 can provide a basis for understanding potential trends:
1. **Revenue Growth**: MoneyHero experienced a robust year-over-year growth in its core online financial comparison business, with a 26% increase. Singapore's revenue surged by 68%, contributing significantly to the overall growth. Insurance product revenue also saw a substantial boost, growing by 89% year-on-year. The company processed 970,000 banking and insurance applications, marking a 100% year-on-year growth.
2. **EBITDA Loss**: Despite the revenue growth, MoneyHero reported an increased adjusted EBITDA loss of approximately -$9.3 million for Q2 2024, up from -$6.4 million in Q1 2024. This indicates that while revenue is growing, the company is still facing challenges in terms of profitability.
3. **Regional Variations**: The Philippine and Taiwan markets faced specific challenges, with the Philippine business decreasing by 16% year-on-year, and the Taiwan business experiencing a marginal decrease of 4% year-on-year. These declines were attributed to reduced volume with key clients and the pause of product offerings from several key clients, respectively.
4. **Cost Factors**: MoneyHero mentioned increased operating costs due to additional expenses associated with being a public company. This suggests that factors such as public company expenses and maintaining operations in challenging markets could impact future financials.
In conclusion, while MoneyHero has seen significant revenue growth, particularly in its core business and insurance products, the increased EBITDA loss and regional challenges suggest that managing expenses and stabilizing profitability in specific markets will be crucial for the company's future financial performance in Q3 2024.