ML - Earnings call transcript Q1 2024

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Operator

Good day, and welcome to MoneyLine, Inc.'s First Quarter 2024 Earnings Call. [Operator Instructions] Please note that this conference is being recorded.

Before we go further, I would like to turn the conference over to Sean Horgan, MoneyLion Head of Investor Relations.

Sean Horgan

Thank you, operator. Hi, everyone. us first joining conference XXXX for call. you for quarter our earnings Thank Choubey; Correia, CFO, today CEO, and MoneyLion Diwakar Rick our to results. are discuss me with

will our our You in that note our the be to our safe statements turn are and press presentation harbor find commentary forward-looking website earnings accompanying SEC Dave. this With to can release investors.moneylion.com. filings the any that, on over press found subject Investor in Please statement, Relations at can I earnings call release. our which

Diwakar Choubey

were Thank EBITDA you, strong and XXXX, QX We thank and XXXX for XXXX the adjusted all revenue hyper-focused kicked accelerated our substantially you we increased we we This call. momentum. expanded for first and on Sean. Good progress efficiency. earnings with quarter-over-quarter. morning, joining in great us In year margin growth continued off the made quarter when

offense in are discipline. mode with of We the now

other enhanced our platform MoneyLion to personal evolving best scale brand experience. their record The a learn a complete of and ecosystem to and to our our can consumers unified that management compare, a PFM financial make financial for, first made marketplace we marketplace channels. any to reach financial partners continue is into We decisions. to consumer owned or further our and available checkout Foundationally, consumers products. is to levels, enterprise are through of trust developed innovating and technology world-class about, their experience building create and Moneylion.com search for select This and technology

XXXX. the for quarter to first takeaways of turn let's key Now the

QX driven This up million. strength model. This our by from diverse accelerated of revenue achieved we XX% XX% represents $XXX was First, year-over-year quarterly the business of growth revenue growth, XXXX. in record

$XXX In addition, the guidance exceeded revenue end to of high our million. our $XXX million of QX

also in $XX QX margin, up Next, QX the XX.X% we end of a approximately XXX basis adjusted of up diluted million XXXX a margin execution XX.X% us EBITDA $XX expansion $X the guidance adjusted from million. $XX EBITDA disciplined profitability of And million our is reflects record quarter, Adjusted strategy. and high from This points milestone GAAP generated with $XX of and exceeded This EBITDA in of to of for or XXXX. reflects earnings range for of our our finally, per $X.XX. net significant generated we share income million million offense quarter-over-quarter. team's

reflecting a the consumer business. total side over environment will of We this saw and engage This the time. cross-sell. customers. offsetting base customers, to the ended some side provide enterprise strong we to of of our an QX conversions continue on on year-over-year. conversion million we reversion in to Turning growth, impact Behind of substantial the with a conversions represents We XX% XX.X total user increase that of tailwinds business, believe rates economic strong the lower

see across growth to quarter-over-quarter. customer our platform continue impressive We

to QX, source to quarter of third-party of to consume in a For compared to to above to QX, XX.X the By end products XX% a experience turn establish the more were we in our network-wide. the options outcomes, of first prior cycle make party, through million were in drive repeat QX marketplace the personalization, repeat third we the comprising decisions. platform more products had provide approach a driving to the X.X This nearly we quarter trusted to year track use. the our first consumed enterprise first from through use, consumer continue of which financial cross-sell desirable We've more date, our Of million come will products million products product consumed MoneyLion. better enterprise on products. partners the context you more to ability product and 'XX, are, more attracts personalized consumers more total ARPU record XX% more financial to quarter. our leads consumers through enhances $XX.X decisions which of offer high-value third-party expect our the With This consumed strong expansion. of walk total insights importance adds shows and cohorts. The for be life of customers ourselves recommendations partners half The through and MoneyLion, X.X have Rick were community-driven XXXX. better million in as repeats. QX.Next, of products the XXXX and details up and and end total customers

Our the best allow consumer product engagement aspects to be investments total the marketplace business fintech app. combined hyper-personalized of consumption expansion first on strategies of lead that models. has of direct-to-consumer This strategically learning platform. also intelligence inside and and in us at to marketplace the our is machine happening experience MoneyLion MoneyLion the artificial cutting edge and cross-sell

rapidly information a to and offerings, our effect we sellers. creating that scale and As buyers marketplace, attract edge a product network the ability more have

Our allows maintain XXXX, well. us and of as are the customers. to relationships with expanding marketplace we direct-to-consumer that In direct experience fintech depth relationship business to deep the broader

experience and multiple deeper allows growing series We as literacy. and content of app customer PFM consumer tools our learn we're by to The both education retaining instance, how what world's money to most best continuously consumer. This resources teach original a gives like no snackable their improve customers already our Owning and dashboards, our taxes, in is commitment industry. models more to further produced the incentivize to seamless make strategy to also demonstrating life conversion PFM plus and our investment over for the in innovating Through allows personalized commenting both benefit make financial ultimately, decisioning with them as institutions well build marketplace. multiple engineering this strategy MoneyLion consumer-facing with media and enterprise our financial of integration content building time consumers. with for to elements net us attractive every consumers We their at the own our as relationships peer-to-peer core strategy financial edge into to the deliver aim create the about our ecosystem us and open we develop community the to studio host costs to of investing in a our financial best even PFM For execute at them should to the in-house to partners. relationship content, topics financial for first in hosting focused flywheel consumers such decisions. quarter, decisions. insights, and is full-featured deeper across trending across a by with decisions. rates educational checkout and the of in scale released draw us we financial is no budgeting our day such as of helping an new money acquisition business, designed to In fundamental this news the and consumers calculators

to and MoneyLion's and In matching, fact, we other widgets capabilities, unique to our addition search are as power feed with beginning our personalization AI-driven marketplace in financial infrastructure well. now calculators, our companies embeddable more content options customers be publishers that by leveraged programmatic and and by the their product to their Internet. financial through properties personalized institutions experience compliance own serve better providing seek can other across world-class a technology also services

through and now of to continuing delivering look and XXXX, MoneyLion. we data and enterprise to solution APIs. business massive AI, forward to a being packaged opportunity for execution committed content and the deepening application Our investments generative We're product and access velocity for any personalization are successful This partnerships. developer-friendly represents in on in our financial

our depth Our network compliance offerings enterprise X,XXX to across and technical expertise reach, grow scope and of of over of partners product because verticals, continues capabilities.

revenue the of quarter expanding a quick personal macroeconomic business I'll now to the the seeing and update million XX is trends in signs. quarter, positive of seeing quarter. with our customer nearly audience Starting in inquiries quarter. in so persisted related on our with provide far impacting second the in we're so some Our the some second headwinds the total far we're More first recent vertical alone. first enterprise the recently, loans the environment, impact

we're marketplaces. environment, the renewed in loans There's our growing pipeline the personal and particularly underwriting First, activity in interest digital our stabilization seeing within vertical. in

our credit insurance diversify tailwinds mortgages, the across cards, personal and there substantial investments As strengthen to like position loans. make we product beyond verticals are to

growth over the see network suppliers on as to quarter. in continue total by We evidenced the inquiries total a healthy very

marketplace technology now for that, Our long-term a growth turn I'll to detail. the Rick engine key over And ecosystem. our is in entire financials with call to discuss the MoneyLion

Richard Correia

I everyone. XX, outlook guidance details to of also XXXX. sharing financial morning for performance to good I and ending look March first the and forward quarter our discuss quarter will Di, for about second XXXX. the Thanks, our

in today's release to statements XX-Q refer For and reconciliations, financial our non-GAAP which available GAAP our more consolidated are please filing. and information, earnings

strategy. customer life our and acquisition to cycle Turning

million roughly the into X.X of Our during first million the total consumed from total customer top quarter. inquiries in $XX we million These saw XXXX. XXXX, XX products of and in quarter funnel of total million converted new the inquiries drove X.X about XXX% customers up first approximately over quarter the

top of continues expands of already grow from due publishers, of network our to staggering As you which large funnel massive can see, our a pace our to top demand at funnel. increasing

the enterprise As of side muted spend alongside continue partner on business reduced denoted, we first due marketing conversions quarter in to headwinds. to see enterprise the the macro

see point vantage improvement are signs Importantly, to the in in quarter. unique we given our industry, the second of beginning

and stabilizes in activity begins environment up. our underwriting pipeline pick the As to

economics. our total unit XXXX, ending added last months X.X we the million customers. to Turning In XX QX

$XX, In to to quarter, quarter. cost, due see reversion CAC, in Our second or customer the a acquisition was did seasonality, periods. and we prior the increase with we first our expect slightly CAC see typical consistent under

around months, equation rapidly our great payback line lastly, outcome. strategy of they which and year our our unit business by customers a Our share strong efficiently. to X XXXX a $XX, take full around ARPU. in And as to adding which period with These continue is economics ARPU reflect market we total see are was function was and roughly

as product We our verticals. offer will value, we and time marketplace cross-sell lifetime over drive expand including to products personalized

Starting consumer XXXX. and revenue of in came revenue me our from customers. of QX let turn with to Now historical XX% recurring enterprise our Over across Consumer cohorts trends consumer businesses.

our increase partners services are you penetration our see, and we acquisition MoneyLion partner personalized the can decisioning to financial successfully throughout life with In our the product business, to the a monetization algorithms. integrate cycle we As of testament of continue effectiveness This and is ecosystem. making our must-have product revenue partners, channel and number vertically deepening and enterprise customer content, expansion.

As a formed partnerships. durable, valuable result, we

our As of you of our partners. from came marketplace prior enterprise enterprise data, can see from cohort revenue in over our year XX% cohorts

retaining fueling our and revenue latent are partners, to from addition we quarterly opportunity inquiries growth revenue capturing customer our the In acceleration. existing of

these performance for performance seeing were are products year-over-year. consumer representing We originations continued XX% our quarter continue the strong first In products. heightened the XXXX, first-party of in products to trends in of our revenue. QX quarter, in increase Credit XXXX. Consumer in to strength $XXX stable first overall remained see million, demand total contributing an

a in managing Our This for as X.X% performance. provision in QX credit percentage credit continuously focus quality total reflects experience expense better on originations optimizing XXXX. our our of both was and

In from addition, receive customers important from it's performance that cash some benefits QX typical note to tax seasonal refunds. related to

we expect a levels. strong to performance as with see forward, originations, provision consistent continue of with percentage Going credit XXXX expense to

transitioning further sheet. that sheet, sell balance receivables off strong As consistent macroeconomic a cash forward we arrangement our efficiency also financing of to we finance lightens and cycles. a indicated our arrangement, to performance meaning over testament them This last originations flow spectrum improve our flow balance and standard is forward move are our and will we a quarter,

quarter. generated of of quarter revenue QX financial other first months quarter-over-quarter, growth some X% key X% the year-over-year $XXX over XXXX. up to million $XXX last quarter. XX% XX% in our growth, million we up the metrics. the in prior MoneyLion prior turning from from This Now the in of represented XX and generated as Notably,

will quality by was slightly even exit marketplace media of ultimately performance EBITDA offset business, in quarter's improve by driven adjusted This and This in to profile both noncore our decision margin outperformance believe and functions our we businesses. was which primarily certain further. our consumer revenue our

to an important on path We QX Now milestone XXXX. to in our profitability. reached

cash million margin position. in adjusted points million $X an basis first of And diluted As $XX the QX income adjusted quarter of De MoneyLion $X.XX and generated EBITDA represents Similarly, margin GAAP we our of mentioned the in cash, QX lastly, $XX from expansion EBITDA net generated key investor up million XX.X% of quarter. closed XXX from the of takeaways, in $XX million on This EPS. or XXXX. We XXXX. of with

cash is in increase after accounting in QX. This for quarter-over-quarter payments specific some period

driven onetime from see can that while you against to Furthermore, we to encouraged continuing no seasonal by point execute cash As we quarters, headwinds with play cash and we potential proving discipline. as consistently our offense generating to Di's are few our and and trend with expenses, our see we before growth have generate pillars. past look growth this

guidance. above our of of to metrics. the $XX of $XXX the million XXXX, quarter guidance million, $XX exceeded $XX million. was the to million, across In turning EBITDA Now to our range high of all Adjusted $XXX guidance million. Revenue of $XXX was end we million high end first our guidance exceeding

EBITDA million, million XX% adjusted revenue approximately Turning the we year-over-year to XXXX, for representing Adjusted $XX to to outlook of $XX between XX% $XXX expect $XXX growth. second margin. XX% EBITDA our of to XX% quarter representing to million, million

leave turn it with over I you I'll Di, this. Before to back

quarter first really themselves. numbers for speak Our

the Importantly, our to business our ability testament and model of scale this is to profitably. strength a

next Di's To this to an opportunity of continue expect We in of we through a us. first comments, stage platform immense are marketplace our front growth. echo with

emerging and the third-party to will back With remarks. first are Di products. access his I as call for to closing trusted financial for over the brand decisions market-leading We and turn that,

Diwakar Choubey

expansion we laid growth Thank Last consumer, product in relentless pillars optimization, you, XXXX, quarter, and growth for our vertical Rick. out funnel distribution. expanded X continued

our continued business in in As today we strong first helped results, the first shared growth our drive growth our pillar, quarter. performance in consumer

the longer-term remaining Going growth forward, we from see coming pillars.

help channels, highest filter with funnel lenders the ability users most relevant optimization, the to leveraging insights match remarketing with new on enhancing for through our offers the data and consumers to First, best efficiency.

We Namely, intensely excited terms and to optimizing near on driving in most of expansion, term.In we're verticals. focused we're our select are funnel our higher working conversions presence vertical deepen the We're about We network. us mortgages. quickly auto opportunities market. products these and of verticals the to believe insurance bring these will inside this cards, all capture for credit to to position well exploring in demand

our our expanding new impact financial with our on In and add meaningful you lead time. to over to distribution, which closing, few fuels to I'll alliance ultimately final with platform, in leave to we partners addition Lastly, continue thoughts. flywheel a EY, our will channel

our cash Our first and and attractive net quarter balance increased an results with in reflect continued growth combination GAAP income momentum We profitability. our business generated of EPS and quarter-over-quarter.

rapidly is margin long These playing table. building sacrificing We're opportunity the because we discipline our for we on growth leave not will We offense We're with can. the advantages the that, your us thank evolution, getting us term. With stage because This and scale to without for can. I will of back all the to just and next operator call we to to questions. the turn like over you started. before take will I'd joining we're take today,

Operator

[Operator Instructions].

George Our Hallum. Sutton first from line come of questions with the Craig

George Sutton

guys. Wonderful results,

then much I'm like funnel. if benefited And it in you've monetization if AI more to infrastructure. that a on you I with to from bigger better part little content you try sounds to monetization So even hearing beginning created. could And you correctly, QX QX the relative Di, to show mentioned large is detail drive that of things you're feed the a that doing wondered lay further, funnel out

Diwakar Choubey

George, as the us business a business we really we question. thanks for QX, robust. conversions quite strong Absolutely, in were and consumer said, that saw for

provide to ads into trend This then nothing above really And and benefits. for customer return game continue of multiple There's our our to to that see name We the million has we said. consumer elements number normalization of is technology lot to $X.X going believe engaging using back that to the aren't QX. a ecosystem. in the personalize the

that using partners is that. for point, penetrated is So we're right? highly products, building from of in our DNA. first-party partners, the But technologies use of our channel part course, artificial for benefit.So a we've importantly, at been this for enterprise creating to opportunities the technology right? Our years XX benefit of those intelligence, pioneer This

the to evolution. in ultimate the the in business. those contextualized, enterprise journeys of use course, and personalized of more of first, be kind we much side creating business, just side that's So of the applications the consumer But those

talk get. running this So we inquiries more really as marketplace, customer we the about in

So The learning product. our to more we're million line that in high-intent more a enterprise we customer higher back that more have customer we retention our information strategies put total looking the intent, trusted reason able because as consumers That's our know partners, it to right? inquiries, for capability saw such of $XX the increases. think of machine customer back in partners money partner we consumers about financial customer have preferences, QX, the into really customer ours a and monetization to provide for and their acquisition, advantage in must really market enterprise customer intent

the lot form consumers, to about we've create top over So to those as of AI engage have a we lot that GAI So funnel changing of mechanisms powered search. factor ability financial increases time, a right? power, said

across the and again, that's, as is to a the lot we're product, we're machine roll The with third to in the line terms the that at a out, for a be lot invest we decisions, lot are and technology edge success this perspective. of getting a as -- of the personalization invest being there that. in towards showing learning the the product, back from of in multiple consumer content, bleeding seeing reason And done Those of is work reason we're So second all financial a to trusted right? those in progress in build-out. products companion consumer

George Sutton

on updates both up and a as EY your us just and Could offering. also it at of didn't all, WOW really the quick come partnership follow-up, give Just you those?

Diwakar Choubey

Sure.

joint conversations as we've last said The with pipeline EY. We're that is a active. So having with progressing And positive this is quarter, is development EY banks. nicely.

target think our increases our into ARPU, becoming chassis us our trusted of to nicely of anyway dollars the will product -- over brings our that time, building We WOW, to we're coming And of pleased we we said before, ultimately, using that adding decisions. for to consumers technology multiple think us if that We're that lead wow the connect been the buying into we've and recurring in We've financial if in really the to that expect And out. the marketing QX interface benefits is of consumers products of increasing we're increase a layer. a going you customer receptors, the expands help right? market, we really, where products adoption, So the very in quarter that that, track. priced for third-party at one time. ready customer benefits on is that into building very the growth addressable about and of products hub building bundle offering us. with back banks that banks right? the this the we're The really with And that we well can year believe products value getting all strategies, believe revenue. to companion of launch, last the increasing really we have of powerful XXXX, this or game On marketplace, a to month, is, really by bundle, get said will, that as you been articulation start into partnership clear the first-party of an our a We've traction dashboard EY value. upsell $X.XX our And as proposition this hundreds for incredibly mind. late we of we that this name our said revamped It market our full multiple the the for offers consumers. finding we're target WOW contextual retention over naturally getting message, that

So to marketing And for see to QX. that's with well. perspective cash now things story that make more marketing really execute as efficient our lot around progressing continue an free a bigger have in going been you'll that forward. WOW And of very we messaging we'll as marketing flow, evolution a we message And have reinvest to really down growth on really exciting spend. even nicely more progressing we've us from for in the opportunities generating that

Operator

Our Riley of Harold next the with B. questions Securities. come Goetsch line from

Harold Goetsch

like? arrangement, would this is in do flow what Any expense? on to My this what looks And be the happens? sheet Rick, you look provision question QX forward on Or there how comments might balance as comment it appreciated. difinill or much could QX

Richard Correia

for Yes. time Thanks, opportunities the talked flow basically efficient Harold more on be upfront. receivables realize about, sell the kind forward And arrangement looking and of the flow, as forward in allows our all we on to cash. us So we're real continuously of cash to

our So you'll see cash. an increase to

arcaccapital reconciling our our looking of adjusted is at EBITDA for the of the cash one to receivables. you're the cash, If from for flow-through there items use our

So we of balance them. that away basically flow forward because, steady a provision goes course, state, to in away as arrangement. a for therefore, receivables sheet go perspective, provision and transition longer From the have that as the we soon will no longer on we no

Operator

line of Needham come Our questions the from Company. & Kyle Peterson next with

Kyle Peterson

guys the be of Great. I on performing been some of of but segment, kind still trends are there, in personal well. the to guys kind loans, start seeing mixed, some you what have like to just seem I of our particularly wanted you and checks, from guess, consumer Enterprise

just So any would color helpful. there be

Diwakar Choubey

Rick and for So actually that us let Quarter-over-quarter, brought growth, it start from of continues revenues that saw our see the well be We XX%, chime there. percentage right? loans where right? as I'll XX%. historically total personal marketplace can we marketplace business was some around Kyle, to in a over down as

in more share idea the lot We about lot So been completing those conversion talked whether right? insurance, have. some of the like has hosting of product-led we of of flows increase efforts have insurance, diversification. decisioning financial our institutions, mortgages, of see inside are a mitigating of direct-to-consumer much seamless a So it's a auto the here flows this is, that the result We elements. the cards, experience some or really credit again, verticals of that opportunities marketplace this have the lot to a lot o of the checkout market we a experience, this the growth. of actually consumers

We So But see a Because clear, the area to we things be the you itself of that's decline and really this media some Yes. of in of of of credit just the product-led network, contextual think opportunity. noncore there. mentioned. and mitigating that now strategic have let's to a grow to side. marketplace built-in there continues very decisions loan generating existing also bit, back And the some both think success muting around mentioned The about our I growth personal items get on the for other what's the if return conversions keep our the levels itself think side massive And there. the that's verticals we've in macroeconomic some nicely. the because the even the to made in revenue if rate conversions seeing quarter-over-quarter that at lot really It's consumer low core interest relevant there, growth can us personal an leading continues there's being I and position strong late headwinds right but product-led the some XXXX are cycle we're cross-sell, mutes continues growth areas right? the is an based in led that a to regime out our that marketplace, lot on the actually on Rick on for noncore throughout levels the ultimately, side, us and business, to marketplace little top being quarter-over-quarter consumer where where just we that to had with personal the is loan loan enterprise economic in, growth.I demand historically around consumer we're funnel.

Richard Correia

over and Yes. you as profile the business if around kind with of X see have the revenue revenue And our continue at look recurring that recurring partners. of specifically the of drivers cohorts, you key business the the to I'd profile from marketplace we say XX% that, enterprise

The in heavily second cross-selling AI-driven is that invested functionality. our algorithmic we've

product, expansion subsequently, them for and So margin to able derivative kind when third retargeting opportunities is to we platform, someone on that comes drive the to be of course, of second us. are which,

So is headwinds of in of the that Di marketplace perspective. durability also about that shining of really And a the macro that's face from through. the business some talked

which as the So we early we're confidence believe that's us things that a quarter, in signals the kind gives year. of unfold of over of that the lot turning rest seeing the

Kyle Peterson

Got it. to just is we moving guys anything here? really on profitable the helpful. That's a expense net during to on there onetime forward profitability Just And see something think the quarter. then GAAP Or Great guys? a should this see a should you front, that were basis expect follow-up. income Is we GAAP from from in about benefited quarter? the how you basis

Diwakar Choubey

say, business sweat leverage show to continue if an significant and Yes. perspective, any We we us our at you year-over-year, operating got there. didn't I would blood, looked tears that that's there. have onetime items that that improvement drove from

year-over-year, XX%. only up XX%. was was revenue up And but OpEx So our

EBITDA hit drive of talking that to tax from kind about happening in We've we net income. about the about being point where inflection quarter. to expansion terms free time. season for us that long flow, good cash is season, coming really net been platform a feel drive continuing And Obviously, we've income of our we So margin really within continuing this margin, talked drive able advantage. the to it our

creating leverage is had changing provision. driver are and our that that real in advantage, we of again, going performance don't overall we see some operating that of our But from platform the the So effect terms forward.

Operator

Markets. Lake Our Street Capital next Stephan Jacob questions from of come line with the

Jacob Stephan

the a enterprise quarter GAAP lower you the could here. hoping on on kind elaborate I rates of and conversion profitability Congrats about side you just further comments made was little on the of like but partners of it's spending you have be really you, you, any be kind would less comments affecting there of It product helpful. the business. with kind might sounds and

Diwakar Choubey

there clear sort But the said and of mortgages, cards, Look, building we're that few we're across When fun, is in in consumer version the the the second that the credit troughs generative in have market These are about we why talk the of preferences. the strength things mix these we as derivative the but doing before, are looking given about that for that be the really, product. verticals AI, of that between the -- when really the partners. insurance, take third in high lot right? and market very the continues spend to we auto talk out there new the our the demand a the our credit is learning, things are we marketing business people derivative, that, loans, in and the out lot intentions aren't doing still products.Now application we of it that machine with we're a of for for mitigating really to of financial verticals, glean we're opportunity, consumer given

So we they're but now from product, the the of able the consumer We're fact problem away credit product. that can with and muted. the are coming in abstract for spends solve mitigate substitution a marketing a to macro

there, a monetize as publisher and your you're a are products, the way because add we leading we're getting of a up if to mitigating we're we set that are to we're conversion to partner financial impressions So because the API suppliers, seeing. publisher, So first, use are So -- right? continuing of class in right? we're we're you're best a through because elements developer-friendly, we that's that lot

I'll conversions, bringing add increase well number turn in that we're growth into we're muted as the Rick to mitigating ecosystem. but that as it over to So yes, with color that an of any supply as are there product-led well. to the

Richard Correia

you into double appreciate I clicking this one. Jacob,

non-lending lending the product. looks to products, again, a to to our about within a is we've where us, insurance, that's reflective offer credit That's opportunities investing non-lending areas actually in sell more and products. we ability kind conversion perspective, think and cards, everyone from our If third see aware, our tracking we If now second of from what certainly up terms the and of acutely in break nonlending derivative look at our where that macro, mortgages, as wellness products, lending, talked away into I our you're invested growing it we've of and looking marketplace like. macro business,

with margin reminder, in take able product, and XX% that XX% margin. going we product product When it's when through cross-sell a journey. And customers margin. product with we When a to have have a a those our come we around take are XX% they strategy. it a they product a third-party XX XX, first-party customers later, us, As XX, call

are so muted on conversions seeing while we side. lending yes, And the

and to successfully increase as within consumption with that XX XX, On second on going within going our through side, to margin we right of products we're get into and product And the we've marketplace. our customers kind to continue the that third focus customer percentage helping XX, we And seeing been are nonlending the in to we're take journey. forward. of overall, because see expansion able able investing the marketing the non-lending us

Jacob Stephan

Got it.

maybe But of for Okay. while margins. a I That's EBITDA we little touching margin a EBITDA on we why sudden helpful. And additional all on then for seen guidance guidance a looking kind some in like here. down, haven't here. down just sequential comments bit just sequentially positive step was something maybe

Richard Correia

Yes.

clarify. would think just I I

of seeing where in company. fact, XX% QX to In to line talked are terms our EBITDA that. targets in extremely quarter as consistent. in about which XX% the range. we is us first life with Guidance you're the think really We've about you us The was strong right margin, medium-term for XX% cycle XX% -- of if guidance in a was

higher so to XX%, it XX.X% In fact, was at higher midpoint. slightly a

talked our in about, confident we're seasonality going of XX.X%. in QX us margin we're given within did really margin we space, As EBITDA of XX% I lift at bit the given give happening terms macro consistent to the be a Kind XX%. terms everything EBITDA really in that's of little some at to of see strong

Operator

you. Thank

our I We bring like have to reached And a that, to your question-and-answer session. the close. We end appreciate would the participation. with of call

at day. You Enjoy the this may disconnect of time. rest your

MoneyLion (ML) 7 May 242024 Q1 Earnings call transcript