ML
Moneylion INC
NYSE
8-K: MoneyLion Announces Record 2024 Results and Acquisition by Gen Digital
Sentiment:
Earnings Release
25 February 2025 7:40 AM
MoneyLion reports record revenue and adjusted EBITDA for 2024, along with a definitive agreement to be acquired by Gen Digital.
Better than expected
MoneyLion's net income of $9 million is better than the net loss of $45.2 million in the previous year.
The adjusted EBITDA of $92 million is better than the $46.4 million in the previous year.
The revenue of $546 million is better than the $423.4 million in the previous year.
Summary
- MoneyLion announced its financial results for the fourth quarter and full year ended December 31, 2024.
- The company achieved record revenue of $546 million for the full year 2024, a 29% increase year-over-year.
- Net income for 2024 was $9 million, compared to a net loss of $45.2 million in 2023.
- Adjusted EBITDA reached a record $92 million, representing a 17% adjusted EBITDA margin.
- Total customers grew 46% year-over-year to 20.4 million.
- Total products increased 48% year-over-year to 34.1 million.
- Total originations grew 38% year-over-year to $3.1 billion.
- MoneyLion entered into a definitive agreement to be acquired by Gen Digital, with the acquisition expected to close in the first half of Gen's fiscal year 2026 (April 1 through September 30, 2025).
Sentiment
Score: 9
Explanation: The document presents a highly positive outlook due to record financial results and the pending acquisition by Gen Digital, indicating strong growth and potential for future success.
Positives
- Record revenue of $546 million, a 29% increase year-over-year.
- Net income of $9 million, a significant turnaround from the previous year's $45.2 million loss.
- Record adjusted EBITDA of $92 million, with a 17% margin.
- Substantial growth in total customers (46%) and total products (48%).
- Increase in total originations by 38% to $3.1 billion.
- The acquisition by Gen Digital could provide further opportunities for growth and expansion.
Risks
- The acquisition by Gen Digital is subject to customary closing conditions, including regulatory approvals and MoneyLion stockholder approval, and may not be completed.
- Forward-looking statements are subject to various risks and uncertainties, including market conditions, competition, and regulatory changes.
- The integration of MoneyLion and Gen Digital may be more difficult, time-consuming, or costly than expected.
- The potential dilutive effect of shares of Gen's common stock that may be issued pursuant to certain contingent value rights issued in connection with the proposed transaction.
Future Outlook
MoneyLion will not be hosting an earnings conference call or providing financial guidance due to the pending acquisition by Gen Digital.
Management Comments
- Dee Choubey, MoneyLion's Co-Founder and Chief Executive Officer, stated that 2024 was MoneyLion's strongest year ever, driven by exceptional execution and demonstrating clear proof of their thriving ecosystem.
Industry Context
MoneyLion's acquisition by Gen Digital reflects a trend of consolidation in the fintech industry, as companies seek to expand their product offerings and customer base.
Comparison to Industry Standards
- MoneyLion's growth in revenue and adjusted EBITDA is strong compared to other fintech companies in the consumer finance space.
- Companies like LendingClub and Upstart have also shown significant growth, but MoneyLion's focus on a broader ecosystem of financial products differentiates it.
- The acquisition by Gen Digital could position MoneyLion to compete more effectively with larger players in the digital security and consumer finance markets, such as NortonLifeLock (now part of Gen Digital) and Intuit.
Stakeholder Impact
- Shareholders may benefit from the acquisition by Gen Digital.
- Employees may experience changes as a result of the integration with Gen Digital.
- Customers may see expanded product offerings and services.
- The acquisition could impact MoneyLion's relationships with its enterprise partners.
Next Steps
- MoneyLion stockholders will vote on the proposed transaction with Gen Digital.
- The companies will work to obtain necessary regulatory approvals.
- The acquisition is expected to close in the first half of Gen Digital's fiscal year 2026 (April 1 through September 30, 2025).
Key Dates
- 2013: MoneyLion was established.
- December 10, 2024: Gen Digital announced a definitive agreement to acquire MoneyLion.
- December 31, 2024: End of the reporting period for the financial results.
- February 25, 2025: MoneyLion announced its fourth quarter and full year 2024 results.
- April 1, 2025: Start of Gen Digital's fiscal year 2026.
- September 30, 2025: Expected end date for the acquisition of MoneyLion by Gen Digital.
Keywords
MoneyLion, Gen Digital, acquisition, financial results, EBITDA, revenue, net income, fintech
ML
Moneylion INC
NYSE
Sector: TBD
Filings with Classifications
Better than expected
3 April 2025 8:41 AM
Shareholder Communication
- The offer represents a premium of up to 80% over MoneyLion's 60-day VWAP, indicating a better outcome for shareholders compared to the company's standalone prospects.
Capital raise
5 March 2025 9:43 PM
Merger Announcement
- Gen Digital intends to fund the cash portion of the merger consideration using a combination of cash on hand and proceeds from an anticipated incremental $750 million term loan B facility.
Better than expected
25 February 2025 8:31 AM
Annual Results
- The company's net income of $9.1 million in 2024 is better than the net loss of $45.2 million in 2023.
- The company's total revenue increased by 28.9% year-over-year.
- The company's customer base grew significantly to 20.4 million.
Better than expected
25 February 2025 7:40 AM
Earnings Release
- MoneyLion's net income of $9 million is better than the net loss of $45.2 million in the previous year.
- The adjusted EBITDA of $92 million is better than the $46.4 million in the previous year.
- The revenue of $546 million is better than the $423.4 million in the previous year.
Better than expected
26 December 2024 6:12 AM
Form 425 Filing
- MoneyLion's growth and profitability improvements exceeded expectations, leading to the acquisition by Gen Digital.
Capital raise
10 December 2024 1:36 PM
Merger Announcement
- The document mentions the issuance of contingent value rights by Gen Digital in connection with the proposed transaction.
- These contingent value rights may involve the issuance of shares of Gen Digital's common stock, potentially diluting existing shareholders.
Better than expected
25 November 2024 5:30 PM
Debt Refinancing Announcement
- The refinancing significantly lowers the cost of capital and extends the debt maturity, which are both positive outcomes.
Better than expected
25 November 2024 5:29 PM
Debt Refinancing Announcement
- The refinancing significantly lowers the cost of capital and extends the debt maturity, which are both positive outcomes.
Worse than expected
7 November 2024 9:31 AM
Quarterly Report
- The company reported a net loss of $2.79 million for the quarter, which is worse than the previous quarter and indicates that the company is not yet profitable.
Better than expected
7 November 2024 7:35 AM
Quarterly Report
- The company's revenue, adjusted EBITDA, and customer growth all exceeded expectations.
- MoneyLion raised its full-year guidance for both revenue and adjusted EBITDA, indicating better-than-expected performance.
- The company achieved a net income before income taxes of $0.5 million, a significant improvement from a loss in the same quarter of the previous year.
Better than expected
6 August 2024 9:26 AM
Quarterly Report
- The company's net income improved significantly from a loss to a profit.
- The company's revenue growth was strong, exceeding expectations.
- The company's adjusted EBITDA improved substantially year-over-year.
Better than expected
6 August 2024 7:35 AM
Quarterly Report
- MoneyLion's Q2 2024 results exceeded expectations with record revenue, a return to profitability, and significant growth in key metrics.
- The company also raised its full-year guidance, indicating confidence in continued strong performance.
Better than expected
16 May 2024 7:30 AM
Legal Update
- The dismissal of the lawsuit is a better outcome than expected, as it removes a legal challenge and potential financial burden for the company.
Better than expected
7 May 2024 9:12 AM
Quarterly Report
- The company reported a net income of $7.1 million compared to a net loss of $9.2 million in the same period last year.
- The company's Adjusted EBITDA improved substantially to $23.5 million compared to $7.3 million in the same quarter last year.
- The company's total revenue increased by 29.2% year-over-year.
Better than expected
7 May 2024 7:32 AM
Quarterly Report
- MoneyLion's Q1 2024 results exceeded the high end of their guidance range across all metrics.
- The company achieved record revenue, net income, and adjusted EBITDA, indicating better than expected performance.
Better than expected
29 April 2024 4:15 PM
Proxy Statement
- MoneyLion's revenue of $423 million in 2023 represents a 24% year-over-year increase, indicating better than expected growth.
- The company's customer base more than doubled, reaching approximately 14 million by the end of 2023, suggesting better than expected customer acquisition.
Better than expected
7 March 2024 7:31 AM
Quarterly Report
- The company's full-year revenue, gross profit, and adjusted EBITDA exceeded expectations.
- Management is projecting the first positive GAAP EPS quarter in 2024, which is better than previous performance.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.