ML - MoneyLion falls after reporting mixed Q2 results

2023-08-08 13:26:46 ET

MoneyLion ( NYSE: ML ) fell ~10% Tuesday noon after the digital financial platform reported mixed Q2 results.

Q2 GAAP EPS of -$2.71 misses by $1.12. Revenue of $106.54M (+22.0% Y/Y) beats by $9.52M.

Customers increased by 114% on a yearly basis to $9.9M, Products revenue rose by 71% to $17.3M and Originations by 25% to $550M.

Gross profit margin stood at 59%, compared to the year-ago 55%.

Net loss came in at $27.7M, compared to $23.07M a year ago.

Adjusted EBITDA was $9.2M.

"For the third quarter of 2023, we expect revenue of $110 to $115 million, gross profit margin of 55% to 60% and Adjusted EBITDA of $6 to $10 million," said CFO Rick Correia.

The Q3 consensus revenue estimate is $103.66M.

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