MoneyLion, Inc. (NYSE:ML) Q2 2022 Earnings Conference Call August 11, 2022 8:30 AM ET

Company Participants

Sean Horgan - Head, IR

Diwakar Choubey - Co-Founder, CEO, President & Director

Richard Correia - CFO & Treasurer

Conference Call Participants

George Sutton - Craig-Hallum

Joshua Siegler - Cantor Fitzgerald & Co.

Harold Goetsch - Loop Capital Markets

Operator

Good day, and welcome to MoneyLion Inc.'s Second Quarter 2022 Earnings Call. Joining us today are Dee Choubey, CEO and Co-Founder; Rick Correia, Chief Financial Officer; and Sean Horgan, the company's Head of Investor Relations. [Operator Instructions]. Please note that this conference is being recorded.

Before we go further, I'd like to turn the conference over to Mr. Horgan as he reads the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Sean, please go ahead.

Sean Horgan

Good morning, everyone, and thank you for joining us today to discuss MoneyLion's results for the second quarter ended June 30, 2022. Before we begin, I'd like to remind you that forward-looking statements made in this commentary are subject to our safe harbor statement found in our SEC filings and in our press releases. Today's call is also accompanied by an earnings presentation that you can view on our webcast and on our website at investors.moneylion.com.

With that, I'll turn the call over to Dee.

Diwakar Choubey

Thank you, Sean. Good morning, and welcome, everyone, to our second quarter earnings presentation. Q2 was another record quarter for MoneyLion as we continue to drive efficient growth and further diversify our revenue mix. Last quarter, we said we are executing the most exciting strategy in fintech, and that strategy continues to see accelerating traction. MoneyLion is a purpose-driven company. We are rewiring the financial system so that every consumer can access the right content, offers and advice to achieve their financial goals.

While geopolitical and economic conditions continue to weigh on consumers and businesses alike, we remain focused on execution and delivering continued revenue growth and margin improvement. The impact that recessionary environments have in MoneyLion business varies. So let me take a moment to walk you through how these dynamics impact both our Consumer and Enterprise businesses.

Starting with our Consumer business, generally speaking, inflationary environments drive demand for our credit products. High prices at the pump or otherwise leave our customers in need of more cash to cover everyday expenses. Customers with higher credit quality are also interacting with safe haven products, like our Instacash advance service, more often than they would under normal economic conditions.