Headline : Earnings call: MoneyLion reports record Q1 revenue, robust customer growth

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MoneyLion Inc. (ML) has reported a record-breaking first quarter for 2024, with a significant surge in revenue and customer base. The fintech company announced a 29% year-over-year increase in quarterly revenue, reaching $121 million, and a 98% growth in total customers, now numbering 15.5 million.

The company's adjusted EBITDA also hit a record at $23 million, translating to a 19.4% margin. MoneyLion attributes its strong performance to product expansion, strategic partnerships, and its focus on becoming a unified consumer platform. With an optimistic outlook, the company projects continued growth in revenue and adjusted EBITDA for the upcoming quarter.

In conclusion, MoneyLion Inc. is forging ahead with robust financial results and strategic initiatives aimed at expanding its customer base and product offerings. The company's focus on a unified consumer experience, coupled with partnerships and new product verticals, positions it well for sustained growth in the dynamic fintech market.

MoneyLion Inc. has demonstrated a solid start to 2024, and the InvestingPro data provides additional context to the company's financial health and stock performance. With a market capitalization of $770.26 million, MoneyLion is positioned as a mid-cap company in the fintech space. The revenue growth of 24.27% in the last twelve months as of Q4 2023, aligns with the company's reported surge in its Q1 2024 revenue, showcasing its expanding scale.

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