The financial industry is evolving fast, with fin-tech companies snowballing. Today, you can perform nearly every transaction with a click of a button right on your phone. MoneyLion is one of the fin-tech companies making such transformations.
MoneyLion 2021 Revenue Report
MoneyLion Inc. (NYSE:ML), a digital financial platform that went public in September 2021 through Special Purpose Acquisition Company (SPAC), recently reported record fourth quarter and full-year revenue results for the year ended December 31, 2021.
The company saw a total net revenue of $55.6 million in the fourth quarter, up 146% year over year from $22.6 million in 2020. The annual net revenue stood at $171 million, representing a 115% YOY increase versus $79.4 million for the same period in 2020.
MoneyLion Inc. recorded an adjusted net loss of $34 million in Q4 2021 and $75.8 million in the fiscal year 2021. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at ($31.9) million and ($67.2) million for the full year of 2021.
The key driver to MoneyLion’s record financial results was a triple-digit increase in customers and originations in 2021. “With triple-digit revenue growth, Q4 was a strong finish to a breakout year for MoneyLion on many levels,” said co-founder and CEO Dee Choubey.
The company ended the fiscal year 2021 with 3.3 million customers, which MoneyLion defines as anyone with at least one financial account. In addition, a staggering 8.0 million MoneyLion’s products were used by customers in 2021 compared to the previous year.
Currently, the average revenue per user (ARPU) is $70, with an upside to $135 when MoneyLion’s customers use at least one product and $235 for mature cohorts, using at least two products.
Additionally, the fin-tech company has made two transformative acquisitions since it went public. In November, it purchased the content media company MALKA Media Group, which will help engage its customers by providing financial news and personal finance tips.
MoneyLion also acquired the financial technology company, Even Financial. This will help expand MoneyLion’s embedded marketplace, increase distribution capabilities, and broaden the range of products offered in the app.
“The combination of MoneyLion’s powerful, digital financial platform, Even’s embedded finance marketplace and infrastructure and MALKA’s creator network and content platform truly enables us to achieve the full potential of our mission: providing financial access and advice to all consumers,” said Choubey.
The company has projections for the fiscal year 2022. MoneyLion expects approximately $325 to $335 million adjusted Revenue; adjusted gross profit margin of roughly 60% to 65%; adjusted EBITDA of nearly ($50) to ($45) million. Plus, the company is targeting to achieve breakeven Adjusted EBITDA in 2022.
For the first quarter of 2022, the company expects adjusted revenue of $60 to $65 million vs. consensus of $59.61M; adjusted gross profit margin of 60% to 65%; adjusted EBITDA of ($25) to ($20) million.
MoneyLion is showing solid growth beyond numbers. The company is partnering with third-party companies to provide its users with a wide range of financial products. Some of these products include personal loans, auto loan refinance, student loan refinance, life insurance, and more.
The bottom line for investors is, MoneyLion has a bright future. Though it’s not profitable now, the company looks promising for long-term investors. To learn more about MoneyLion’s financial report, go through MoneyLion’s Investors Relations Website or press release.