MoneyLion Inc. (NYSE:ML) Q4 2023 Earnings Conference Call March 7, 2024 8:30 AM ET

Company Participants

Sean Horgan - Head of IR

Diwakar Choubey - Founder and CEO

Richard Correia - President, Chief Financial Officer and Treasurer

Conference Call Participants

George Sutton - Craig-Hallum

Hal Goetsch - B. Riley Securities

Josh Siegler - Cantor Fitzgerald

Jacob Stephan - Lake Street Capital Markets

Operator

Good day and welcome to MoneyLion Inc.'s Fourth Quarter and Full Year 2023 Earnings Call. At this time, all participants are in a listen-only mode. We will have a question-and-answer session following the formal presentation. [Operator Instructions] Please note this conference is being recorded.

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

[Technical Difficulty]

Ladies and gentlemen, we thank you for your patience. We will now resume our event. Sir, please go ahead.

Sean Horgan

Thank you, operator. Hi, everyone. Thank you for joining us for our fourth quarter and full year 2023 earnings conference call. MoneyLion's CEO, Dee Choubey; and CFO, Rick Correia are here with me today to discuss our results. You can find a presentation accompanying our earnings release on our Investor Relations website at investors.moneylion.com.

Please note that any forward-looking statements made in this commentary are subject to our Safe Harbor statement found in our SEC filings and in our earnings press release.

With that, I will turn the call over to Dee.

Diwakar Choubey

Thank you, Sean. Good morning, and thank you all for joining us for our fourth quarter and full year 2023 earnings call. I'm excited to share that MoneyLion had its strongest year ever in 2023. We achieved record financial performance for the year and were positioned to scale efficiently going into 2024. In 2023, we prioritized profitability and we exceeded the guidance we provided on profitability. In 2024 we are well positioned for an efficient growth stance. We're going to play offense while remaining disciplined on costs and we're very confident we can do this.

Now, let me provide our key investor takeaways for 2023. First, we achieved record revenue of $423 million for 2023. That represents 24% year-over-year growth. We generated record revenue across both our consumer and enterprise businesses for the year 2023, representing the strength of our two-sided ecosystem. It's worth repeating we have a diversified revenue model.

Our marketplace solutions, technology advantage, customer acquisition and monetization products have set us up nicely as the gateway to American financial services. This diversification provides durability and importantly, it will continue to propel MoneyLion forward and position the company for accelerating growth.