ML - MoneyLion reports Q1 results; initiates Q2 outlook

2023-05-09 08:40:45 ET

• MoneyLion press release ( NYSE: ML ): Q1 reached quarterly GAAP net loss of $9M and Positive Adjusted EBITDA of $7M.
• Total Customer Adds of 1.3 Million in Q1 2023; Total Customers up 102% Year-over-Year to 7.8 Million.
• Revenue of $93.67M (+34.4% Y/Y) beats by $6.79M .
• Adjusted Revenue increased 34% to $89.0 million for the first quarter of 2023 compared to the first quarter of 2022.
• Adjusted Gross Profit increased 28% to $51.7 million for the first quarter of 2023 compared to the first quarter of 2022.
• Q2 2023 Financial Guidance: For the second quarter of 2023, MoneyLion expects :
• Total revenues, net of approximately $95 to $100 million  vs. consensus of $91.48M; Gross profit margin of 54% to 58%; Adjusted EBITDA of approximately $1 to $8 million

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