Calvin Wong

Calvin Wong asked about MoneyHero's plans for the crypto segment, including revenue targets and partnerships, the potential for AI displacement risk given MoneyHero's comparison platform model, further partnership potential with major backers like Palantir and Pacific Century Group, and the drivers behind the significant Adjusted EBITDA improvement despite flat year-over-year revenue, along with confidence for Q4 and beyond.

Answer

Daniel Loh, CFO, explained that the 68% Adjusted EBITDA improvement, despite flat revenue, was driven by a shift to a higher-quality revenue mix (insurance up 13% YOY, wealth up 5% YOY, now 23% of group revenue) and structurally lower operating costs, including a 13% YOY reduction in operating costs excluding FX, a decrease in technology costs from $2 million to $900,000, and a reduction in employee benefit expenses from $5.7 million to $4.2 million due to AI automation handling 70-80% of service queries. He expressed confidence in Q4 and beyond due to the stronger revenue mix, building sequential growth momentum, and a fundamentally different cost base. Rohith Murthy, CEO, stated that MoneyHero's crypto approach is regulated and compliance-first, focusing on education, comparison, and routing users to licensed platforms, with no standalone revenue target but aiming for digital assets to be a meaningful contributor to the wealth segment in 2-3 years. He views AI as an amplifier, not a risk, due to MoneyHero's vertical integration, deeper credit integrations, and Project Odyssey, which aggregates, normalizes, and curates financial products. Murthy also confirmed ongoing dialogue with major backers like Pacific Century Group, exploring partnerships for strategic scale and capabilities, citing the Bolttech collaboration as an example.