MoneyHero Limited Warrants Q3 FY2024 earnings call

• Launched a comprehensive reorganization and restructuring exercise in Q3, streamlining operations and optimizing team structures, which improved adjusted EBITDA by over 40% Q-o-Q from a loss of $9.3 million in Q2 to $5.5 million in Q3.
• Centralized all customer data into a single platform, enabling cross-sell strategy, price segmentation, and more efficient marketing campaigns.
• High margin products like personal loans, wealth, and investment-related revenues grew significantly. Insurance vertical grew 36% Y-o-Y, with car insurance launched in Hong Kong with real-time pricing capabilities.
• Introduced new membership and loyalty features to deepen user engagement.
• Site revamp in Singapore initiated to improve user experience and conversion rates.

In Q3 2024, MoneyHero Group achieved 6% year-over-year revenue growth to $20.9 million. The Philippines saw a 49% increase, Hong Kong 18%, while Singapore decreased by 13% due to absent campaigns from certain providers. Taiwan increased marginally by 5% with credit card growth. The B2B business Creatory was flat at $3.5 million, representing 17% of group revenue. Insurance was the fastest growing vertical, with Q3 revenue up 36% year-over-year to $2.1 million, contributing 9% to the group's overall revenue for the first nine months.

• Anticipate continued improvement in adjusted EBITDA in Q4 2024, building on progress in Q3.
• Focus on high margin products, discipline cost management, and data-driven operations.
• Actively pursuing strategic acquisition and investment opportunities to consolidate the industry in Southeast Asia.

• Fluctuations in provider campaigns in Singapore impacted revenue.
• Dependence on key clients' decisions to exit the market, requiring focus on building new verticals.
• FX fluctuations had a major impact on net income, as seen in Q3 with unrealized FX exchange gains/losses.

Q: What challenges do you foresee in scaling the car insurance platform across core markets and how does bolttech's technology differentiate it?

A: Rohith Murthy stated opportunities exist due to partnership with bolttech, enabling real-time pricing, end-to-end purchasing journeys, B2B white-labeled opportunities, and diversification of insurance product portfolio.

Q: How are initiatives like the redesigned mobile app resonating with users and driving higher margin revenue?

A: Rohith Murthy explained the app provides GPS-enabled real-time offers, helps drive credit card usage post-acquisition, enhances user engagement, and unlocks new revenue streams through personalized insights.

Q: Can you explain the trajectory of operating results, EBITDA, and labor cost contraction?

A: Rohith Murthy noted improved EBITDA losses but not positivity yet, focus on high margin products. Hao Qian discussed FX impact on net income. Rohith mentioned restructuring benefits will be seen in subsequent quarters.

Q: Details on Singapore site revamp success, FY’25 marketing priorities, and new product developments?

A: Site revamp in Singapore showed improved conversion rates in early stages. Marketing priorities focus on consumer trust through organic growth and operating leverage. New product developments include mobile app expansion, credit scoring feature pilot, car insurance platform extension, travel insurance one-click purchasing, and GenAI app exploration.