Moneyhero Group narrows net loss by 78% in FY2024

This was driven by higher revenue from insurance and wealth products.

Moneyhero Group narrowed its net loss to $49.4m (US$37.8m) in FY2024 from $225.4m (US$172.6m) a year ago.

Revenue fell 1% YoY to $103.8m (US$79.5m) as the company began shifting toward high-margin products in H2 2024 to boost profitability.

On the flip side, revenue from insurance products increased by 40% YoY to $10.7m (US$8.2m), accounting for 10% of total revenue, compared to 7% in the prior year.

In addition, revenue from wealth products increased by 138% YoY to $11.1m (US$8.5m), fueled by the growth of the stock account and bank account verticals.

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