MoneyHero Limited Warrants Q2 FY2024 earnings call

• Hosted Singapore's largest personal finance festival with 5,000 attendees, its 7th consecutive year and largest to date.
• Named Personal Finance Tech of the Year at Asia FinTech Awards 2024.
• Pivoted to monetizable engagement metrics, achieving 50% increase in approved applications and a membership base of 6.5 million as of June 30, 2024.
• Rolling out new capabilities: mobile app, new car insurance vertical, one-click insurance purchasing, and improved site/content architecture.
• Insurance revenue in H1 2024 was $4 million, 65% year-on-year growth, its fastest growing vertical.
• Creatory B2B business growing, investing in AI for efficiencies, expecting lower EBITDA losses next quarter and aiming for profitability in the last quarter.
• Exploring strategic M&A for market consolidation, e.g., Malaysia transaction and acquisition of Seedly.

In Q2 2024, MoneyHero Group's core business online financial comparison grew 26% year-on-year. Creatory, the B2B business, grew 13% year-on-year, contributing 14% of group revenue. Singapore saw 68% year-on-year growth to $9 million, Hong Kong grew 19% to $7.3 million. The Philippines decreased 16% year-on-year due to provider constraints, and Taiwan decreased 4% due to paused product offerings. Insurance products revenue increased 89% year-on-year to $2.2 million, now accounting for 11% of group revenue.

• Q2 2024 revenue was $20.7 million, a 24% year-on-year increase.
• Adjusted EBITDA loss was $9.3 million in Q2; expecting narrowing of adjusted EBITDA loss in H2 2024 and reaching adjusted EBITDA profitability monthly by year-end.
• Anticipates lower EBITDA losses next quarter and aims for profitability in the last quarter.
• Organic growth drivers include tax loan season, banking budget scale-up, insurance vertical growth, and Creatory expansion; inorganic growth includes exploring strategic acquisitions for market consolidation.

• Provider constraints in Philippines and Taiwan temporarily impacted revenue.
• One key provider exit affected revenue and profitability, but mitigated by investing in other providers and verticals.
• Increased operating costs due to being a public company, including audit fees, D&O insurance, and IR/PR fees.

Q: Figures reported indicate full year results should be H2 weighted. What are levers to achieve $100 million revenue target and confidence?

A: Organic growth in tax loan season, banking budget scale-up, insurance vertical growth, and Creatory expansion; multi-market, multi-vertical scaling.

Q: Rationale for MoneySmart acquisition and inorganic growth strategy?

A: Largest aggregator, market consolidation, proven M&A history, synergies in data, technology, revenue, and operational efficiency.

Q: How leveraging AI, ShopHero app, Creatory to improve approved application conversion rate?

A: AI for efficiencies, ShopHero app rollout next quarter, Creatory B2B growth, focus on application conversion, traffic engagement, and user retention.

Q: Guidance for FCF burn in FY 2024?

A: Expect EBITDA loss reduced to $5-6 million next quarter, and adjusted EBITDA profitable monthly by year-end.

Q: Markets driving revenue growth next 2 years?

A: Core markets Singapore, Hong Kong (insurance fastest growing), Philippines, Taiwan, and Creatory B2B.