Structural cost reductions with strong top-line growth: Total operating costs and expenses for the quarter decreased 15% year-over-year to US$21.4 million while revenue increased 27% year-over-year to US$20.0 million
SINGAPORE, April 30, 2026 (GLOBE NEWSWIRE) -- MoneyHero Limited (NASDAQ:MNY) ("MoneyHero" or the "Company"), a leading tech- and AI-powered personal finance aggregation and comparison platform and a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the fourth quarter and full year ended December 31, 2025.
Management Commentary:
Danny Leung, Interim Chief Executive Officer and Chief Financial Officer, stated:
"The fourth quarter marks our first profitable quarter as a listed company despite a challenging year 2025 with total revenue falling by 8%. Stepping into the Interim CEO role, I want to recognize the tremendous dedication of our entire team that brought us to this milestone. Building on that foundation, we delivered fourth quarter net profit of US$0.5 million, a significant improvement from a net loss of US$(18.8) million in the same period last year. This was achieved alongside Adjusted EBITDA of US$0.7 million, marking our first-ever Adjusted EBITDA gain since our NASDAQ listing. For the full year, our net loss narrowed 86% to US$(5.2) million from US$(37.8) million and Adjusted EBITDA loss improved 73% to US$(6.4) million from US$(23.7) million. This demonstrates clear, sequential execution toward achieving a better revenue mix, cost base, and technology platform.
Fourth quarter revenue reached US$20.0 million, increasing 27% year-over-year, driven by a strong performance in our core markets: Singapore revenue surged 56% year-over-year to US$7.9 million and Hong Kong grew 27% to US$9.4 million. Together, these two markets represented 86% of revenue during the quarter, up from 79% a year ago, reflecting our deliberate focus on markets with the strongest unit economics. This performance was driven by an acceleration in our higher-margin products, Insurance and Wealth, reaching nearly 30% of total revenue in the fourth quarter. Specifically, Wealth revenue growth accelerated 50% year-over-year during the quarter. Furthermore, Credit card revenue during the fourth quarter grew 38% year-over-year, demonstrating our ability to capture high-intent volume in our core verticals while simultaneously accelerating our revenue mix-shift into higher-margin products.
On a full-year basis, our revenue mix transformation continues unabated, as our higher-margin products, Insurance and Wealth, now represent 26% of full year revenue, up from 21% a year ago and 12% in 2023. Insurance revenue grew 11% year-over-year to US$9.1 million and Wealth grew 19% to US$10.1 million. This structural improvement was driven by a shift in revenue mix and optimized rewards costs, resulting in our cost of revenue for the full year declining by 7 percentage points year-over-year to 51% of revenue. This revenue mix shift, combined with improved approval rates and rewards optimization, is directly driving margin expansion.
Throughout 2025, we reduced total operating costs and expenses, excluding net foreign exchange differences, by 27% year-over-year. These efficiency gains are structural, not cyclical. Technology costs declined 59% for the full year and 71% year-over-year in the fourth quarter as we further consolidated vendors, retired legacy platforms, and streamlined our technology stack. Advertising and marketing expenses also decreased 20% from last year to US$17.3 million through more targeted, data-driven campaign allocation. Furthermore, employee benefit expenses declined 33% for the year to US$16.2 million, reflecting our completed restructuring and increasing AI adoption to build a structurally leaner cost base that will not reinflate as we scale.
We are embedding intelligence across the organization through our AI transformation initiative. Our AI automation now touches up to 70% of customer service queries. Crucially, in December 2025, AI successfully resolved 47% of customer service queries without any human intervention, demonstrating how we are scaling operations and product support without proportionally adding headcount. This operating leverage is clearly visible in the fourth quarter, where approved applications grew 12% year-over-year, while employee benefit expenses declined 32% through efficiency gain. Over time, our AI initiative will drive further technology stack simplification and enable new AI-powered user journeys. During the quarter, we began beta-testing our Car Insurance SaverBot on WhatsApp in Singapore, delivering a conversational AI experience that simplifies product discovery and reduces acquisition costs. Similarly in Hong Kong, Credit Hero Club is building a recurring base of high-intent users through personalized credit insights and monitoring, setting the groundwork for further customer acquisition cost efficiencies.
We ended the year with a highly resilient, debt-free balance sheet with US$37.5 million in net current assets and US$31.2 million in cash and cash equivalents. The US$3.3 million sequential increase in cash from the prior quarter highlights our gradual transition into a sustainable and cash-generative business. This capital position, supported by our 9.4 million Members and over 300 commercial partnerships as of December 31, 2025, allows us to continuously invest in AI, product innovation and higher-margin verticals, while maintaining the strict cost discipline that allowed us to reach this milestone. Looking ahead, we expect our full-year 2026 Adjusted EBITDA to exceed 2025 levels, driven by the continued expansion of our higher-margin products, Insurance and Wealth verticals, AI-driven operating leverage, and the strong conversion of our member base into recurring, multi-product customers."
Fourth Quarter 2025 Financial Highlights
Net profit was US$0.5 million, marking a significant turnaround from the net loss of US$(18.8) million in the same period last year.
Adjusted EBITDA gain of US$0.7 million, compared to Adjusted EBITDA loss of US$(2.9) million in the fourth quarter of 2024.
Revenue was US$20.0 million, a 27% year-over-year increase from US$15.7 million in the same period last year, signaling the successful stabilization and continued diversification of revenue mix to enhance revenue quality.
Revenue from Insurance and Wealth products combined increased 31% year-over-year to US$5.9 million, accounting for 30% of total revenue, compared to 29% in the same period last year.
Total operating costs and expenses, excluding net foreign exchange differences, decreased by 15% to US$21.4 million in the fourth quarter of 2025, compared to US$25.2 million during the same period last year, driven by a 71% year-over-year decrease in technology costs from platform consolidation and AI automation and a decrease in written off/impairment of intangible assets within general and administrative expenses.
Full Year 2025 Financial Highlights
Total revenue was US$73.4 million, an 8% decrease year-over-year, while net loss narrowed sharply to US$(5.2) million, from US$(37.8) million in the prior year, reflecting a strategic shift toward diversifying revenue mix to enhance revenue quality.
Wealth revenue increased by 19% year-over-year to US$10.1 million, accounting for 14% of total revenue, compared to 11% in the prior year.
Insurance revenue grew by 11% year-over-year to US$9.1 million, accounting for 12% of total revenue, compared to 10% in the prior year.
Collectively, these higher-margin verticals of Wealth and Insurance drove a structural expansion in margins, accounting for 26% of revenue in 2025, compared to 21% in the prior year.
Cost of revenue decreased by 19% year-over-year to US$37.3 million from US$46.2 million last year, accounting for 51% of revenue. This 7-percentage point improvement from 58% during the same period last year reflects improving profitability through optimized rewards costs and accelerating revenue-mix shift into higher-margin products.
Total operating costs and expenses, excluding net foreign exchange differences, decreased by 27% year-over-year to US$84.2 million in 2025, primarily driven by optimized reward costs, cost-efficient marketing campaigns, platform efficiencies driving lower technology costs, and streamlined employee benefits expenses.
Adjusted EBITDA loss improved significantly to US$(6.4) million, compared to US$(23.7) million in 2024, demonstrating clear, sequential execution toward sustainable profitability.
The Company maintained a debt-free balance sheet with US$31.2 million in cash and cash equivalents as of December 31, 2025, a US$3.3 million increase from US$27.9 million as of September 30, 2025. This highlights the Company's gradual transition into a sustainable and cash-generative business.
Fourth Quarter and Full Year 2025 Operational Highlights
Maintained 4.2 million Monthly Unique Users for the three months ended December 31, 2025.
MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 30% year-over-year to 9.4 million as of December 31, 2025.
Approved Application volumes increased by 12% year-over-year in the fourth quarter of 2025 to 190,000, driven by strong growth in Insurance and Wealth products.
Capital Structure
The table below summarizes the capital structure of the Company as of December 31, 2025:
Share Class
Issued and Outstanding
Class A Ordinary
30,572,2522
Class B Ordinary
13,254,838
Preference Shares
2,407,575
Total Issued Shares3
46,234,665
Summary of financial / KPI performance
For the Three Months Ended December 31,
For the Year Ended December 31,
(US$ in thousands, unless otherwise noted)
2025
2024
2025
2024
(unaudited)
(audited)
Revenue
19,967
15,723
73,426
79,511
Adjusted EBITDA
683
(2,922
)
(6,353
)
(23,666
)
Clicks (in thousands)4
1,663
2,222
7,650
N/A
Applications (in thousands)5,6
373
385
1,664
1,858
Approved Applications (in thousands)5,6
190
170
703
790
Revenue breakdown
For the Three Months EndedDecember 31,
For the Year EndedDecember 31,
(US$ in thousands, except for percentages)
2025
2024
2025
2024
US$
%
US$
%
US$
%
US$
%
(unaudited)
(audited)
By Geographical Market:
Hong Kong
9,382
47.0
7,386
47.0
31,117
42.4
30,443
38.3
Singapore
7,869
39.4
5,060
32.2
30,934
42.1
30,890
38.9
Philippines
1,524
7.6
1,977
12.6
7,372
10.0
12,844
16.2
Taiwan
1,191
6.0
1,296
8.2
4,004
5.5
5,137
6.5
Malaysia
-
-
5
-
-
-
197
0.2
Total Revenue
19,967
100.0
15,723
100.0
73,426
100.0
79,511
100.0
1 Adjusted EBITDA is a non-IFRS financial measure. See "Key Performance Metrics and Non-IFRS Financial Measures" section herein for an explanation and reconciliations of non-IFRS measures used throughout this release.2 Includes 350,483 shares issued to Computershare Hong Kong Investor Services Limited ("Computershare") which are held in trust pending exercise and settlement of share options by Computershare to the underlying exercising option holder.3 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money.4 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. While three-month quarterly comparisons are available for 2025 and 2024, we are unable to provide comparable full-year data for 2024 due to this methodology change. Please refer to the section titled "Key Performance Metrics and Non-IFRS Financial Measures" for more information regarding the change in methodology.5 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable.6 Historical MoneyHero Group Members, Applications and Approved Applications as of and for comparative periods prior to December 31, 2024, have been restated to be presented on a comparable basis to our current data governance practices. These revisions had no impact on our consolidated financial statements for any of the periods presented.
By Source:
Online financial comparison platforms
18,060
90.5
13,594
86.5
65,976
89.9
66,815
84.0
Creatory
1,907
9.5
2,129
13.5
7,450
10.1
12,696
16.0
Total Revenue
19,967
100.0
15,723
100.0
73,426
100.0
79,511
100.0
By Vertical:
Credit cards
10,434
52.3
7,559
48.1
43,777
59.6
48,958
61.6
Personal loans and mortgages
2,908
14.6
3,373
21.5
9,309
12.7
12,185
15.3
Wealth
3,587
18.0
2,397
15.2
10,104
13.8
8,504
10.7
Insurance
2,317
11.6
2,125
13.5
9,101
12.4
8,181
10.3
Other verticals
720
3.6
269
1.7
1,137
1.5
1,683
2.1
Total Revenue
19,967
100.0
15,723
100.0
73,426
100.0
79,511
100.0
Key Metrics
For the Three Months EndedDecember 31,
For the Year Ended December 31,
2025
