MoneyHero Limited Class A Ordinary Shares Q3 FY2025 earnings call

Key Points

• Q3 revenue was $21.1 million, with 17% QoQ growth and 1% YoY growth. Adjusted EBITDA loss improved 68% YoY to negative $1.8 million, and adjusted EBITDA margin improved from -26.5% to -8.4%.
• Revenue mix has shifted towards higher-margin products like insurance and wealth. Insurance accounts for 13% YoY growth, wealth for 5% YoY growth.
• Operating costs, excluding FX, fell 13% YoY to $23.9 million, with reductions in technology costs (from $2 million to $0.9 million), employee benefit expenses (from $5.7 million to $4.2 million), and advertising/marketing costs.
• Project Odyssey, an AI stack, is a strategic pillar. Pilots are live, expected to drive unit economics uplift across verticals with 60%+ service interactions automated without headcount increase.
• Q4 is expected to be the first quarter of positive adjusted EBITDA since listing, driven by tailwinds in insurance and wealth, strong partner budgets in Singapore/Hong Kong, and ongoing cost resets/marketing efficiency improvements.

In the third quarter of 2025, MoneyHero Group reported revenue of $21.1 million, marking a 17% quarter-on-quarter increase and 1% year-on-year increase. The revenue mix has seen a significant shift, with insurance and wealth now accounting for 23% of total revenue. Insurance revenue grew 13% year-on-year to $2.3 million, and wealth revenue grew 5% year-on-year to $2.6 million. Geographically, Singapore had revenue of $10.2 million, Hong Kong had $7.5 million, Taiwan had $1 million, and the Philippines had $2.4 million.

Guidance

• Q4 is expected to be the first quarter of positive adjusted EBITDA since listing.
• For 2026, the company targets solid top-line growth, meaningful improvement in profitability, and further revenue mix shift towards insurance and wealth beyond the current 23% contribution.

Risks

• Forward-looking statements are subject to risks and uncertainties as stated in the earnings press release.
• Market changes, regulatory compliance issues, and uncertainty regarding AI adoption and integration could impact performance.

Q: What is the plan for the crypto segment?

A: MoneyHero's approach to crypto is regulated and compliance-first. Partnered with OSL and Coinbase, integrating digital assets into wealth journeys with no standalone crypto revenue target but aiming for digital assets to be a meaningful contributor in 2-3 years.

Q: Concerns about AI displacement risk?

A: MoneyHero sees AI as an amplifier of value, not a risk. It integrates with verticals and data-driven insights, acting as an AI-enhanced layer between users and providers.

Q: Plans for M&A?

A: Will pursue M&A in a disciplined way, focusing on acquisitions with revenue or cost synergies, stronger capabilities, strategic scale, and fitting the AI-enabled operating model.

Q: Reception of Credit Hero Club and loan segment outlook?

A: Credit Hero Club is a successful membership program in Hong Kong. Personal loans in Hong Kong benefit from seasonality and Credit Hero Club. In 2026, personal loans are expected to grow with Credit Hero Club as a driver, insurance as an EBITDA anchor, and credit cards as a core vertical with moderate margins.