Welcome to our dedicated page for MoneyLion news (Ticker: ML), a resource for investors and traders seeking the latest updates and insights on MoneyLion stock.
MoneyLion Inc. (symbol: ML) is a leading financial technology company that empowers consumers to take control of their financial lives through its comprehensive mobile banking and financial membership platform. Established in 2013, MoneyLion offers a personalized, all-in-one digital financial platform that provides convenient, low-cost access to banking, borrowing, and investing solutions. The company leverages innovative machine learning algorithms and big-data analytics to offer better financial products, such as installment loans, lines of credit, pre-paid debit cards, and point-of-sale consumer and merchant financing opportunities.
MoneyLion operates across all 50 states in the United States and is backed by top venture capital firms and angel investors. The company's mission is to positively impact its customers' financial health by rewarding financial responsibility, offering top-notch customer assistance, and providing insightful financial education tips. Recently, MoneyLion has formed a notable alliance with Ernst & Young LLP (EY US) to enhance technological capabilities within the banking sector. This partnership aims to simplify the transition into digital banking and assist traditional banks in offering a wide range of financial services through an efficient, user-friendly digital platform.
With a suite of innovative products and services, MoneyLion's platform includes mobile banking, lending, and investment solutions, all rooted in data and delivered through proprietary technology. The company's platform provides a tailored financial experience, leveraging advanced AI to deliver curated content and financial tools that help users manage, save, and invest their money effectively. MoneyLion's enterprise technology also includes a premier embedded finance platform for businesses, enabling companies to integrate financial products into their operations seamlessly.
For more information about MoneyLion, visit www.moneylion.com. For details about Engine by MoneyLion for enterprise businesses, visit www.engine.tech.
MoneyLion Inc. (NYSE: ML) has partnered with Nova Credit to integrate cash flow underwriting within its consumer finance ecosystem. This collaboration enables lenders on MoneyLion's platform to utilize Nova Credit's Cash Atlas™ analytics, providing a more comprehensive view of consumer financial health and expanding credit access.
The partnership allows credit issuers to leverage consumer-permissioned bank transaction data for more informed underwriting decisions. Concora Credit, a service provider for consumers with less-than-perfect credit, is among the first to utilize this capability. By combining embedded marketplace technology with enhanced data analytics, MoneyLion aims to expand credit access while enhancing risk management.
This integration strengthens MoneyLion's ability to provide financial institutions with better tools for credit decisions, potentially serving a broader range of consumers.
Pathward Financial, Inc. (Nasdaq: CASH) and MoneyLion (NYSE: ML) have extended their partnership until 2029, adding three years to their collaboration that began in 2020. The partnership's most notable product is RoarMoney, a Demand Deposit Account offered through MoneyLion's mobile application. Pathward, a national bank focused on financial inclusion, provides Banking as a Service solutions to enable payments innovators like MoneyLion to meet customer needs.
Will Sowell, Pathward's Divisional President of Banking as a Service, expressed enthusiasm for continuing to deliver innovative banking solutions to enhance MoneyLion customers' financial experiences. MoneyLion's CEO, Dee Choubey, praised Pathward's compliance culture, regulatory knowledge, and banking experience, highlighting the confidence gained from their collaboration.
MoneyLion Inc. (NYSE: ML), a digital ecosystem for consumer finance, has announced its participation in two upcoming investor conferences in September 2024. The company will attend the 7th Annual B. Riley Securities Consumer & TMT Conference and the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference, both taking place on Thursday, September 12, 2024 in New York, NY.
These conferences provide MoneyLion with opportunities to engage with investors and showcase its financial technology solutions. Interested parties can contact MoneyLion's investor relations team at ir@moneylion.com for additional information or to schedule one-on-one meetings during the events.
MoneyLion Inc. (NYSE: ML), a digital finance ecosystem, has announced a $20 million share repurchase program authorized by its Board of Directors. The program allows MoneyLion to buy back its outstanding Class A common stock through various methods, including open market transactions and privately negotiated deals. With no fixed expiration date, the repurchase volume and timing will depend on market conditions and other factors.
MoneyLion retains the flexibility to modify, suspend, or discontinue the program at its discretion. The company plans to fund the repurchases from existing cash reserves and future cash flows. As of June 30, 2024, MoneyLion had approximately $98 million in cash and cash equivalents. The company reported 10,968,455 shares of Class A common stock outstanding as of August 1, 2024.
MoneyLion (NYSE: ML), a digital ecosystem for consumer finance, has announced its participation in the 6th Annual Needham FinTech & Digital Transformation Virtual 1x1 Conference. The event is scheduled for Thursday, August 15, 2024, and will be held virtually. This conference provides an opportunity for investors to engage with MoneyLion representatives and gain insights into the company's operations and strategies.
Interested parties can schedule one-on-one meetings with MoneyLion by contacting their conference representative or reaching out directly to MoneyLion's investor relations team at ir@moneylion.com. This participation underscores MoneyLion's commitment to maintaining open communication with investors and showcasing its role in the evolving fintech landscape.
MoneyLion (NYSE: ML), a digital ecosystem for consumer finance, announced its participation in the Oppenheimer 27th Annual Technology, Internet & Communications Conference.
The event will be held virtually on August 14, 2024. Interested parties can receive additional details or schedule one-on-one meetings by contacting their conference representative or MoneyLion’s investor relations team at ir@moneylion.com.
MoneyLion Inc. (NYSE: ML) reported strong financial results for Q2 2024, with record revenue of $131 million, up 23% year-over-year. The company achieved GAAP Net Income of $3.1 million and Diluted EPS of $0.26. Adjusted EBITDA reached $18.5 million, representing a 14.2% margin.
Key metrics showed significant growth: Total Customers increased 73% to 17.0 million, Total Products grew 60% to 27.7 million, and Total Originations rose 40% to $770 million. For Q3 2024, MoneyLion expects revenue of $133-$138 million and Adjusted EBITDA of $18-$21 million. The full-year 2024 guidance projects revenue of $525-$535 million and Adjusted EBITDA of $80-$87 million.
MoneyLion Inc. (NYSE: ML), a digital ecosystem for consumer finance, has announced it will release its second quarter 2024 financial results on Tuesday, August 6, 2024. The company will host an earnings conference call at 8:30 a.m. ET on the same day. Investors can access a live webcast of the call and supporting materials at investors.moneylion.com. Following the call, a replay and transcript will be available on the website.
For those wishing to join the call, the toll-free dial-in number is 1-877-502-7184, and the international dial-in number is 1-201-689-8875. Participants are advised to call 5-10 minutes before the start time and request to join the MoneyLion second quarter 2024 earnings call.
MoneyLion Inc. (NYSE: ML) has appointed Brad Hanson, former President and CEO of Pathward Financial, Inc., to its Board of Directors and as Chair of the Audit Committee, effective July 15. Hanson replaces Jeff Gary, who is stepping down from the Board. This strategic appointment brings decades of financial services experience to MoneyLion, a digital ecosystem for consumer finance.
Hanson's expertise in fintech and commitment to financial inclusion align with MoneyLion's mission to improve financial literacy and access. The company is building the first digital ecosystem for consumer finance, blending first- and third-party products, personalized financial tools, and advanced data-driven insights. MoneyLion's Board, led by Chair John Chrystal, includes CEO Dee Choubey and other industry leaders, positioning the company for continued growth in its two-sided consumer finance marketplace.
MoneyLion (NYSE: ML) has been recognized by CNBC for the second consecutive year as one of the 'World's Top FinTech Companies' for 2024. This recognition, facilitated by CNBC and Statista Inc., highlights MoneyLion's role in the Wealth Technology category. MoneyLion is noted for its comprehensive suite of financial tools, including managed investment accounts, auto-investing, and round-ups, aimed at enhancing the financial health of American consumers. CEO Dee Choubey attributes this honor to the trust consumers place in MoneyLion for their financial decisions. The acknowledgment comes after MoneyLion's fifth consecutive record quarter, underscoring its successful, diversified business model and commitment to transformative financial technology. For more information, visit their official websites and follow their investor updates on social media.
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