MoneyHero Group Narrows Net Loss 78% Despite Revenue Decline in FY2024

MoneyHero Group significantly reduced its net loss in 2024 by shifting its focus toward high-margin products, particularly in insurance and wealth segments, despite a slight decline in overall revenue. Insurance revenue grew by 40% and wealth product revenue jumped by 138%, now accounting for a larger share of total revenue and strengthening the group's margin profile. Operational efficiency initiatives, including streamlined operations, lower operating expenses, and reduced marketing costs, contributed to the improved financial performance. The company ended the year with a debt-free balance sheet and strong cash reserves, positioning itself for future growth. MoneyHero aims to achieve positive adjusted EBITDA by the second half of 2025, continuing to leverage its strong market position and strategic partnerships. Challenges remain in achieving consistent profitability and improving cash flow, but the group’s strategic direction is expected to enhance long-term sustainability.