MoneyHero Ltd. Q2 FY2026 earnings call

• Financial Resilience & Cost Discipline: Adjusted EBITDA loss narrowed 17% YoY to $1.6 million in Q2 and 49% YoY to $2.7 million in H1. Constant FX EBITDA loss narrowed 64% YoY to $0.9 million. Net loss of $1.2 million was driven by foreign exchange impacts rather than operational changes.
• Strategic Shift to Cash Rewards: Deploying cash rewards (totaling $5.1 million in Q2, up 77% YoY) allows attraction of high-intent customers more cost-effectively. While this reduces reported IFRS revenue, it improves unit economics and approval quality. Adding back rewards, total transaction value remained flat in Q2 and grew 9% in H1.
• AI Transformation & Tech Efficiency: Technology costs fell 50% YoY to $0.5 million through platform consolidation and AI-driven automation. An in-house voucher management system went live in HK, cutting delivery time by half. A fully AI-assisted conversational experience and rebuilt member dashboard are rolling out to improve user retention and lower support costs.
• Operational Metrics: Approval rates expanded 9 percentage points YoY to 48%. Approved applications declined only 15%, indicating a higher-quality funnel. Cost of revenue as a percentage of revenue improved by 3 percentage points YoY to 48%.
• New Growth Initiatives: Launching a home loan comparison category in Singapore via partnership with Redbrick, taking zero underwriting risk. Expanding online life insurance marketplace in Hong Kong, with plans to add critical illness and other products in H2. Securing exclusive partnerships with major retail banks and digital brokers in Singapore to stabilize partner revenue.
• Member Base & Balance Sheet: Ended Q2 with $28.2 million in cash and no debt. Member base grew 17% YoY to 10.1 million. Focusing on re-accelerating organic traffic through SEO and AI search optimization to drive high-intent users into high-margin verticals.

• Hong Kong: Revenue was $7.8 million in Q2 (flat YoY) and $16.3 million for H1 2026 (up 15% YoY), representing approximately 49-50% of total group revenue. Segment profit surged to $0.5 million in H1 from $0.1 million in the prior year period.
• Singapore: Reported revenue declined 20% YoY to $6.2 million in Q2 and moderated by 8% in H1, primarily due to cash rewards deducted from revenue. However, total transaction value grew 9% YoY in H1. The segment delivered a profit of $0.2 million in H1, a turnaround from a $0.5 million loss in the prior year period.
• Product Mix: Credit card revenue declined 18% YoY to $8.9 million in Q2. Combined wealth and insurance revenue was $4.7 million (30% of total revenue). Wealth revenue grew 22% YoY to $4.8 million on a six-month basis, while insurance revenue declined 7% YoY to $2.4 million in Q2 but contributed to diversification. Personal loan and mortgage revenue declined 2% YoY to $2 million in Q2.

• Full-Year Outlook: Management remains focused on translating structural efficiencies into continued full-year adjusted EBITDA improvement.
• Second Half Catalysts: Key drivers include the launch of the home loan comparison category in Singapore, rollout of the AI-assisted natural language search experience, launch of critical illness insurance in Hong Kong in Q3, expansion of the member dashboard to Hong Kong, and extension of the voucher management system.
• Volume Rebuilding: Targeted actions will be taken to destabilize and re-accelerate volume in Singapore and rebuild underlying volume in Taiwan on a more profitable basis amid dynamic market conditions.
• Strategic Focus: Continued emphasis on optimizing customer acquisition, sharpening execution, and investing selectively in markets, products, technology, and talent to support profitable long-term growth.

• Foreign Exchange Volatility: Significant net foreign exchange differences swung from a $3 million gain in the prior year period to a $0.1 million loss in Q2, impacting reported net income.
• Macroeconomic Challenges: The broader macroeconomic environment presents new temporary challenges, requiring adaptive strategies in dynamic markets like Singapore and Taiwan.
• Execution Risk in New Verticals: Expansion into home loans and life insurance relies on successful product rollout, partner integration, and consumer adoption of self-service models.
• Regulatory Compliance: As AI tools and internal systems are rebuilt and deployed, maintaining compliance within regulated financial business frameworks is critical.

No Q&A session was held during this conference call. The operator explicitly stated that all participants were in listen-only mode and that no questions would be accepted during the call. Investors were instructed to contact the investor relations team directly after the call if they had any inquiries. Consequently, there are no exchanges to summarize regarding management priorities, strategic direction, or operational details beyond what was presented in the main remarks.