Q4 2021 MoneyLion Inc Earnings Call
Good day, and welcome to Moneyline, Inc, 's fourth quarter and full year 2021 earnings call joining.
Good day and welcome to Moneyline, Inc.'s fourth quarter and full year 2021 earnings call.
Joining us today are D. Chao-Bei, CEO and Co-Founder, Rick Correa, Chief Financial Officer, and Alex Kovtun, the company's External Director of Investor Relations. At this time, all participants are in a listen-only mode.
Joining us today are D. Each all day, CEO and co founder, Rick Correa, Chief Financial Officer, and Alex calls, John the company's external director of Investor Relations.
At this time all participants are in a listen only mode.
Question and answer session will follow the formal presentation.
If anyone should require operator assistance during the conference. Please press star zero on your telephone keypad.
If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is
Please note this conference is being recorded.
Before we go further, I would like to turn the call over to Mr. Kovtun as he reads the company's safe harbor statement within the meaning of the Private Security Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Alex, please go ahead.
Before we go further I would like to turn the call over to Mr. Cove done as he reads the Companys Safe Harbor statement within the meaning of the private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward looking statements. Alex. Please go ahead.
Alex Kovtun: Good morning, everyone, and thank you for participating in today's conference call to discuss Moneyline's results for the fourth quarter and full year ended December 31st, 2021.
Good morning, everyone and thank you for participating in today's conference call to discuss my lines results.
<unk> fourth quarter and full year ended December 31 2021.
Alex Kovtun: Joining us today are D. Chauvet, CEO and co-founder, and Rick Correa, chief financial officer.
Joining us today are each have a CEO and cofounder and Rick <unk>, our chief Financial Officer before I introduce D. I'd like to remind you that any forward looking statements made in his commentary are subject to our safe Harbor statement found in our SEC filings and in our press releases.
Speaker Change: Before I introduce Dee, I'd like to remind you that any forward-looking statements made in this commentary are subject to our State Harbor Statement found in our SEC filings and in our press release.
Speaker Change: Today's call is also accompanied by an earnings presentation that you can view on our webcast and is also available for download on our website at investors.moneyline.com. With that,
Today's call is also accompanied by an earnings presentation that you can do on our webcast and is also available for download on our website at.
Investors thought moneyline dot com.
With that I'll hand, it over to Dee.
Thank you Alex welcome everyone. It's an exciting moment for us to be hosting you for money lines second earnings call as a public company.
Speaker Change: Thank you, Alex. Welcome everyone. It's an exciting moment for us to be hosting you for Moneyline's second earnings call as a public company. We've been looking forward to making this update, especially since we've transformed the company with two key acquisitions.
We've been looking forward to making this update especially since we've transformed the company with two key acquisitions.
Speaker Change: Before we begin, though, we want to acknowledge that despite seemingly having the pandemic in our rearview mirrors, we continue going through unprecedented times and would like to take this opportunity to recognize the trials and tribulations of all those impacted by war globally and its long reaching implications, including many for employees here at Moneyline and their families. With that said.
Before we begin though we wanted acknowledged that despite seemingly having the pandemic in our rearview mirrors, we continue going through unprecedented times and we'd like to take this opportunity to recognize the trials and tribulations of all those impacted by war globally and its long reaching implications, including many of our employees here at moneyline and their families with that said lets get started.
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Our mission here at money line is to Rewire, the American financial system to positively change the path of every hard working American the products. We build are mission critical to our customers our values are not our products, but they define our product experience our values, our northstar motivation community achievement happiness our.
Speaker Change: Our mission here at Moneyline is to rewire the American financial system to positively change the path of every hardworking American. The products we build are mission critical to our customers. Our values are not our products, but they define our product experience.
Speaker Change: Our values are our North Star. Motivation, community, achievement, happiness. Our business model is.
Our business model is quite unique in fintech.
Speaker Change: It leverages our own platform of products, as well as an open architecture ecosystem to allow third parties to live inside the Moneyline experience.
Leverages, our own platform of products as well as an open architecture ecosystem to allow third parties to live inside the moneyline experience. Our approach is to absolutely be customer centric and that allows us to be an ally to the customer regardless of the end product creator and that we differ significantly from incumbent banks had monoline fintech.
Speaker Change: Our approach is to absolutely be customer-centric, and that allows us to be an ally to the customer regardless of the end product creator. In that, we differ significantly from incumbent banks and monoline fintech.
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Speaker Change: We endeavor to become a daily destination for our customers, a destination for financial product discovery, education, excitement, and ultimately transaction fulfillment.
We endeavor to become a daily destination for our customers' destination for financial product discovery education excitement and ultimately transaction fulfillment the technical architecture of our platform, which centers around the multi dimensional understanding of our customers' habits and lifestyle has been built on a near decade experience in customer do.
Speaker Change: The technical architecture of our platform, which centers around the multidimensional understanding of our customers' habits and lifestyle, has been built on our near-decade experience in customer due diligence, application of artificial intelligence and machine learning to financial product journeys, risk management, and underwriting. This is important, and it differentiates us from transactional solutions provided by in-company.
Diligence application of artificial intelligence and machine learning to financial product journeys risk management and underwriting. This is important and it differentiates us from transactional solutions provided by incumbents.
The future of finances, exponential and rooted in personalization, we've moved quickly to assemble the components we've needed to execute on our Fintech three point O strategy announcing two strategic acquisitions in Q4 of multimedia group and even financial with both of these transactions now complete and the teams in there.
Speaker Change: The future of finance is experiential and rooted in personalization.
Speaker Change: We've moved quickly to assemble the components we've needed to execute on our Fintech 3.0 strategy, announcing two strategic acquisitions in Q4 of Malka Media Group and even financial.
Speaker Change: With both of these transactions now complete and the teams and their respective capabilities now in place, we are executing on our vision, combining Moneyline's platform and suite of proprietary products with Malka's content capabilities and growing creator network and Even's vast distribution network of third-party products and channel partners, as well as the technical infrastructure to embed open architecture web and mobile applications.
Respective capabilities now in place we are executing on our vision, combining moneyline's platform and suite of proprietary products with markers content capabilities and growing creator network and evens vast distribution network of third party products and channel partners as well as the technical infrastructure to embed open architecture web and.
Applications.
Speaker Change: This starts with delivering daily knowledge and motivational content to our users. Moneyline seeks to be the ultimate in-the-know destination on a broad variety of money topics, spanning the financial markets to life hacks, helpful tools, financial news, as well as calculators and classes for users to take control of their money life journey. And finally, Moneyline differentiates itself by providing knowledge and solutions in a hyper-personalized and contextualized manner for each individual customer.
This starts with delivering daily knowledge and motivational content to our users moneyline seeks to be the ultimate in the no destination on a broad variety of money topics spanning the financial markets to life tax helpful tools financial news as well as calculators and classes for users to take control of their money life journey.
And finally, moneyline differentiates itself by providing knowledge and solutions in a hyper personalized and contextualized manner for each individual customer.
We deliver this personalized experience through our own content feed the feed is an interactive snapshot of our customers' money life. It's a tool that educates users on a daily basis on financial topics and a fun relevant and engaging way.
Speaker Change: We deliver this personalized experience through our own content feed. The feed is an interactive snapshot of a customer's money life. It's a tool that educates users on a daily basis on financial topics in a fun, relevant, and engaging way.
Speaker Change: Our acquisition of Malka Media positions us to be authentically involved in the culture of money through conversations being had by today's always-on consumers.
Our acquisition of multimedia positions us to be authentically involved in the culture of money through conversations being had by today's always on consumer we.
Speaker Change: We will be investing in lifestyle content to complement the financial product and content search capabilities inside of Moneyline. As part of the Moneyline team, Malka is able to provide us access to its vast network of creators, which can amplify social messages, increase awareness, and drive.
We will be investing in lifestyle content to complement the financial product and content search capabilities inside of moneyline as part of the money line Tmall, because able to provide us access to its vast network of creators, which can amplify social messages.
Increased awareness and drive customer engagement.
Speaker Change: The Creator Network becomes a brand amplification engine for Moneyline to engage with fans who are actively turning to social channels for financial education and opportunities.
The creator network becomes a brand amplification engine for moneyline them to engage with fans who are actively turning to social channels for financial education, and education and opportunities.
Speaker Change: We estimate Malka's creators provided over 69 million Moneyline brand impressions in Q4 alone.
We estimate milk as creators provided over 69 million Moneyline brand impressions in Q4 alone.
And this doesn't include a 4 million dollar earned brand benefit that moneyline achieved through Marcus network to create a massive Super Bowl campaign hosted by Mike Tyson You May have also seen that we partner Michael Jordan's race team 23, 11, along with double Wallace, we have now amassed a dedicated creator network a financial advice experts in beer.
Speaker Change: And this doesn't include a $4 million earned brand benefit that Moneyline achieved through Malika's network to create a massive Super Bowl campaign hosted by Mike Tyson. You may have also seen that we partnered with Michael Jordan's race team, 23-11, along with Bubba Wallace. We have now amassed a dedicated creator network of financial advice experts and beyond who reach millions of viewers across all social channels on a daily basis.
<unk>, who each millions of viewers across all social channels on a daily basis. This network is growing every day and has now become the vehicle we will use to amplify our platform among all of our most important social communities.
Speaker Change: This network is growing every day and has now become the vehicle we will use to amplify our platform among all of our most important social communities.
Speaker Change: Our full suite of financial products are all built and in-market. Our solutions bundle financial superpowers that serve customers in times of excess and in times of need. It starts with our powerful Roar Money banking account that is a full suite of banking and payment solutions, and we keep adding to it, including new ways to pay bills, auto deposits, and continuous improvement to the user experience. Our low-cost, fully-managed investing solution is a must-have for all households, and we're seeing great engagement with roundups and auto investing.
Our full suite of financial products are all built and in market our solutions bundled financial superpowers that serve customers in times of excess and in times of need it starts with our powerful war money banking account that has a full suite of banking and payment solutions, and we keep adding to it including new ways to pay bills out of deposits and continuous improvement to the user experience.
<unk>, our low cost fully managed investing solution is a must have for all households, and we're seeing great engagement with Roundups and auto invests.
We provide access and education to new asset classes with self directed crypto roundups and investing and we provide access to all types of credit products, now and moneyline, including student loans credit cards personal loans and mortgages of course in 2020 one into cash our advanced product continues to show fast growth product market fit.
Speaker Change: We provide access and education to new asset classes with self-directed crypto roundups and investing, and we provide access to all types of credit products now in Moneyline, including student loans, credit cards, personal loans, and mortgages. Of course, in 2021, Instacash, our advanced product, continues to show fast growth, product market fit, and escape velocity by solving daily cash flow fluctuations for millions of users.
And escaped velocity by solving daily cash flow fluctuations for millions of users.
All of these solutions are in market and there is nothing here on the come.
Speaker Change: All of these solutions are in market and there's nothing here on the come.
Speaker Change: We've talked to you about content and solutions. Let's talk about the technical infrastructure needed for distribution. In the past, we fulfilled single point needs. Now our AI technology combines discovery and intent.
We've talked to you about content and solutions, let's talk about the technical infrastructure need for distribution in the past, we fulfilled single point needs now our AI technology combines discovering and intent we were already down the path of building out our marketplace in 2020 , one, but we can now fulfill almost all customer product intent with a vast network.
Speaker Change: We were already down the path of building out our marketplace in 2021, but we can now fulfill almost all customer product intent with a vast network of curated third-party financial and non-financial products from our acquisition of Even Financial.
A curated third party financial and Nonfinancial product from our acquisition of even financial even creates significant two sided network benefits for moneyline for one through an API Moneyline first party products can now be embedded into mass market popular and leading new sites financial content publishers credit comparison portals.
Speaker Change: even creates significant two-sided network benefits for Moneyline.
Speaker Change: For one, through an API, Moneyline first-party products can now be embedded into mass-market popular and leading news sites, financial content publishers, credit comparison portals, and into cross-sell flows of hundreds of financial institutions.
And then to cross sell flows of hundreds of financial institutions on the other side every type of third party loan product insurance product, including home renters auto life insurance lifestyle products credit cards and mortgages can now be offered natively through the moneyline App we.
Speaker Change: On the other side, every type of third-party loan product, insurance product, including home, renters, auto, and life insurance, lifestyle products, credit cards, and mortgages can now be offered natively through the Moneyline app.
We can credibly say every adult consumer in America can now use money lined to discover the optimal basket of financial product customized exactly for them.
Speaker Change: We can credibly say every adult consumer in America can now use Moneyline to discover the optimal basket of financial products customized exactly for them.
Speaker Change: The network now has offers that span the FICO credit spectrum from 300 all the way to 850 FICO score. The good news is that this API integration is done and in market. We're rapidly working on additional synergies that will continue to improve the consumer value proposition throughout 2022.
The network now has offers that spanned a FICO credit spectrum from 300, all the way to 850 FICO score. The good news is that this API integration is done and end market. We're rapidly working on additional synergies that will continue to improve the consumer value proposition throughout 2022.
This evolution has been a natural progression for us starting all the way back in 2013, when we launched a single beachhead lending product and used our compounding data advantage to evolve into a multifaceted multi product Super App think about it together with even we've seen 125 million Americans come through our ecosystem the power of the community.
Speaker Change: This evolution has been a natural progression for us starting all the way back in 2013 when we launched a single beachhead lending product and used our compounding data advantage to evolve into a multi-faceted, multi-product super app. Think about it. Together with Even, we've seen 125 million Americans come through our ecosystem.
Speaker Change: The power of the community gives us a large competitive advantage to close the growth loop of providing that data-driven hyper-personalized content feed we just described.
Gives us a large competitive advantage to close the gross loop of providing that data driven hyper personalized content feed we just described.
Speaker Change: Now, the goal is to deliver the super app wherever consumers are spending their attention. This is the big bet. Our strategy with the acquisition of Theven is to become the market and participate on both sides of the supply and demand equation.
Now the goal is to deliver the super App wherever consumers are spending their attention. This is the big bet our strategy with the acquisition of even is to become the market and participate on both sides of the supply and demand equation.
Speaker Change: Our data advantage is compounding. We track over 17 million bank accounts and have 55 machine learning models running in production. The aggregate power of the community allows us to build deep insights and play them back daily to users. The data flywheel leads to better risk predictions, higher engagement and retention, higher ARPU, and the ability to launch first-party products faster based on a data-driven approach.
Our data advantages compounding we track over 17 million bank accounts and at 55 machine learning models running in production the aggregate power of the community allows us to build deep insights and play them back daily to users. The data flywheel leads to better risk predictions higher engagement and retention higher <unk> and the ability to launch first party products.
Faster based on the data driven approach the data advantage also makes our content more relevant and more personalized which creates more opportunities for viral loops in two sided network effects.
Speaker Change: The data advantage also makes our content more relevant and more personalized, which creates more opportunities for viral loops and two-sided network effects.
Speaker Change: 2021 was a remarkable year in the history of Moneyline, full of milestones. We successfully completed our public listing in September , providing us with a fortified balance sheet. As we've said, and it's important to repeat it, we are a unique growth story in the public markets. Some of the tailwinds that drive our growth are changes in how Americans work, with an acceleration of the gig economy, changing the way credit products are consumed, and changes in how consumers access financial recommendations, their community driven discord and social media platforms.
2021 was a remarkable year in the history of Moneyline full of milestones. We successfully completed a public listing in September providing us with a fortified balance sheet as we've said and it's important to repeat it where we are a unique growth story in the public markets. Some of the tailwind that driver growth or changes in how Americans work with an.
Ration of the gig economy, changing the way credit products are consumed and changes in how consumers access financial recommendations their community driven discord and social media platforms.
Speaker Change: We increased the global team to 700 plus members, a majority of our resources are concentrated in engineering, product development, content creation, and product design. We're able to hire the best and the brightest product managers and engineers, and we continue to find increases in productivity while navigating a national and global workforce through the pandemic.
We increased the global team to 700, plus members a majority of our resources are concentrated in engineering product development content creation and product design.
To hire the best and the brightest product managers and engineers and we continue to find increases in productivity, while navigating a national and global workforce through the pandemic, we continue to invest in resources and our Kuala Lumpur, Malaysia location and continue to be one of the leading technology employers in that region, giving us significant competitive advantages in this.
Speaker Change: We continue to invest in resources in our Kuala Lumpur, Malaysia location and continue to be one of the leading technology employers in that region, giving us significant competitive advantages in the speed of execution.
Speed of execution.
Speaker Change: On the heels of our mission, vision, and business model, we posted record results in Q4 2021 as well as for the full year 2021.
On the heels of a mission vision and business model, we posted record results in Q4, 2021 as well as for the full year 2021.
We grew customers to $3.3 million, we originated $1 billion in credit our total products grew to 8 million used by our customers and we expanded our global employees just over 700.
Speaker Change: We grew customers to 3.3 million. We originated with billion dollars in credit. Our total products grew to eight million used by our customers. And we expanded our global employees to just over 700.
Speaker Change: On the growth side, we saw 129% year-over-year total customer growth, we saw 149% year-over-year total origination growth, and 112% year-over-year adjusted revenue growth in Q4 2021.
On the growth side, we saw 129% year over year total customer growth, we saw 149% year over year total origination growth and 112% year over year adjusted revenue growth in Q4, 2021 .
Speaker Change: From a performance perspective, we continue to see strong unit economics. We saw 60 plus percent adjusted gross profit margins.
From a performance perspective, we continue to see strong unit economics, we saw 60 plus percent adjusted gross profit margins. We had a 70 dollar average revenue per user with upside to over $135 for mature cohorts.
Speaker Change: we had a $70 average revenue per user with upside to over $135 for mature cohorts.
Speaker Change: And from an acquisition perspective, we continue to see efficient payback periods with a less than six month payback period on customer acquisition costs.
And from an acquisition perspective, we continue to see efficient payback periods with a less than six months payback period on customer acquisition costs.
Speaker Change: Our top-of-the-funnel advantages continue to persist in Q4, and the flywheel effect of our multi-product strategy is working. While others are just getting on to adding cross-sell features and product lines, our technology platform has been built from the ground up to foster a holistic relationship, as opposed to a transactional one-time relationship. We're seeing this approach pay off, with our customers now trusting us with a second, third, and fourth, and sometimes even a fifth product.
Our top of the funnel advantages continue to persist in Q4, and the flywheel effect of our multi product strategy is working while others are just getting onto adding cross sell features and product lines. Our technology platform has been built from the ground up to foster a holistic relationship as opposed to a transactional onetime relationship. We're seeing this approach paid off with our customers now.
Trusting us with a second third and fourth and sometimes even a fifth product.
Speaker Change: Once they're in, they don't have to leave our ecosystem and our strategy is to remove any reason for them to leave.
Once they're in they don't have to leave our ecosystem and our strategy is to remove any reason for them to leave.
Speaker Change: for financial decision making. A great way to see this in action is through the significant growth in the total products consumed by Moneyline customers.
For financial decision, making a great way to citizen action is through the significant growth in the total products consumed by Molina Moneyline customers. We have 10.8 million registered users on the moneyline platform at the end of 2021 off those total customers with at least one financial account, which is a higher bar of user user measure.
Speaker Change: We have 10.8 million registered users on the MoneyLend platform at the end of 2021. Of those, total customers with at least one financial account, which is a higher bar of user measurement than what the industry typically discloses, increased to 3.3 million at the end of the year, vastly exceeding our 2021 full year expectations.
Meant than what the industry typically discloses increased to $3 3 million at the end of the year vastly exceeding our 2021 full year expectations. Those 3.3 million customers have taken out 8 million products in our platform, representing a 79% growth from Q4 2020 total product adoption over a cohort continues to increase as we cross.
Speaker Change: Those 3.3 million customers have taken out 8 million products on our platform, representing a 79% growth from Q4 2020. Total product adoption over a cohort continues to increase as we cross-sell throughout the lifecycle of the user. It's also a testament to our multi-product, multi-feature FinTech platform approach.
Sell throughout the lifecycle of a user it's also a testament to our multi product multi feature fintech platform approach.
As we think about 2022 we find ourselves in a great position to continue delivering efficient customer and revenue growth, while gradually approaching breakeven adjusted EBITDA as we exit calendar year 2022, our balance sheet is strong and we have good visibility into the levers of efficient growth.
Speaker Change: As we think about 2022, we find ourselves in a great position to continue delivering efficient customer and revenue growth, while gradually approaching break-even adjusted EBITDA as we exit calendar year 2022. Our balance sheet is strong, and we have good visibility into the levers of efficient growth.
While we will continue to invest smartly in our people and marketing and Eric and in expanding our capabilities, we're scaling into profitability and enjoying the benefits of strong unit economics and the operating leverage of the foundation, we have invested in.
Speaker Change: While we will continue to invest smartly in our people, in marketing, and in expanding our capabilities, we're scaling into profitability and enjoying the benefits of strong unit economics and the operating leverage of the foundation we have invested in.
Speaker Change: We ended December 31st, 2021 with $246 million of cash and equivalents on the balance sheet.
We ended December 31, 2021, with $246 million of cash and equivalents on our balance sheet.
Speaker Change: Our goal to exit Q4 2022 with breakeven-adjusted EBITDA has become a rallying cry inside our organization, and we're confident we will drive towards it, all the while continuing to drive a year-over-year near 100% growth rate.
Our goal to exit Q4, 2022 with breakeven adjusted EBITDA has become a rallying cry inside of our organization and we're confident we will drive towards it all the while continuing to drive a year over year near 100% growth rate.
Speaker Change: In conclusion, I'd like to drive home that we are in a great position with a well-capitalized balance sheet to scale our user base and drive efficient revenue growth this year. Our acquisitions position us with the team and the capabilities needed to execute the most interesting strategy in fintech.
In conclusion I'd like to drive home that we are in a great position with a well capitalized balance sheet to scale, our user base and drive efficient revenue growth. This year, our acquisitions position us with the team and the capabilities needed to execute the most interesting strategy in fintech or.
Speaker Change: Our investments in content, technology, and network are compounding.
Our investments in content technology and network are compounding.
Speaker Change: Moneyline will always innovate on bringing together the best of FinTech, easy to use, powerful financial accounts, insights, advice encapsulated by a delivery mechanism that aims to be at the center of the culture of money and making it fun while doing it.
Moneyline will always innovate on bringing together the best of Fintech easy to use powerful financial accounts insights advice encapsulated by a delivery mechanism that aims to be at the center of the culture of money and making it fun while doing it.
Speaker Change: With that, I'll pass it off to Rick to run through the 2021 results and 2022 guidance in more detail.
With that I'll pass it off to Rick to run through the 2021 results in 2022 guidance in more detail.
Rick Correa: Thanks, Dee. Good morning to everyone and welcome to our Q4 2021 and full year 2021 earnings call. Off the back of our IPO in September , we executed on several ambitious strategic growth initiatives to position MoneyLion for a differentiated customer value proposition, acquisition plan, and financial profile.
Thanks, Steve Good morning to everyone and welcome to our Q4 'twenty one in full year 2020 one earnings call off the back of our IPO in September we executed on several ambitious strategic growth initiatives to position moneyline for a differentiated customer value proposition acquisition plan and financial profile.
Our Q4 initiatives included acquiring mall Commedia group in November announcing the acquisition of even financial marketplace in December and closed in February .
Rick Correa: Our Q4 initiatives included acquiring Malka Media Group in November , announcing the acquisition of Even Financial Marketplace in December , and closed in February . We launched two new debt facilities in Q4 to increase our receivables financing capacity threefold and reduced our cost of capital and simplified our funding model. As you will see in our
Launched two new debt facilities in Q4 to increase our receivables financing capacity threefold and reduced our cost of capital and simplified our funding model.
As you will see in our 'twenty two guidance.
These initiatives have a strong positive impact on our revenue profit and EBITDA.
Rick Correa: These initiatives have a strong positive impact on our revenue, profit, and EBITDA.
Rick Correa: Now let's get into our record Q4 and full year performance.
Now, let's get into our record Q4 and full year performance.
Rick Correa: I'll start off with an overview of our financial performance for the fourth quarter and full year 22, and then transition to our key operating metrics, revenue by type, net income, and end on our 2022 full year and Q1 financial outlook.
I'll start off with an overview of our financial performance for the fourth quarter and full year 'twenty, two and then transition to our key operating metrics revenue by type net income and end on our 2022 full year and Q1 financial outlook.
Rick Correa: As we are going through the financials, please note that unless otherwise stated, I'll be referring to adjusted results and all quarter period references refer to the fourth quarter of 21 versus the fourth quarter of 2020.
As we were going through the financials. Please note that unless otherwise stated I'll be referring to adjusted results at all quarter peered references refer to the fourth quarter of 'twenty, one versus the fourth quarter of 2020.
Our GAAP consolidated financial statements and reconciliations are available in today's earnings release, and our upcoming 10-K filing.
Rick Correa: Our GAAP Consolidated Financial Statements and Reconciliations are available in today's earnings release and our upcoming 10-K filing.
Adjusted revenue for the quarter grew 112% year over year to 54 million another record quarter for us and our fourth consecutive quarter with a 100% plus year over year growth.
Rick Correa: Adjusted revenue for the quarter grew 112% year-over-year to $54 million, another record quarter for us and our fourth consecutive quarter with 100% plus year-over-year growth.
In Q4, 'twenty, one we generated $36 million of adjusted gross profit, which is an increase of 151% over our Q4 'twenty gross profit of $14 million the.
Rick Correa: In Q4'21 we generated $36 million of adjusted gross profit, which is an increase of 151% over our Q4'20 gross profit of $14 million.
Rick Correa: The Q4 2021 adjusted gross profit was also realized at a higher gross profit margin of 66% versus 56% in Q4 2020.
Q4, 2021 adjusted gross profit was also realize at a higher gross profit margin of 66% versus 56% in Q4 'twenty 'twenty.
That represents an 18% year over year gross profit margin improvement.
Rick Correa: That represents an 18% year-over-year gross profit margin improvement.
For full year 'twenty, one we generated 165 million of adjusted revenue, which is 117% increase versus full year, 'twenty 'twenty and exceeded our revenue guidance that we raised upwards from 144 million to $155 million in September representing a 15% beat over our original 'twenty one guidance.
Rick Correa: For full year 21, we generated 165 million of adjusted revenue, which is 117% increase versus full year 2020, and exceeded our revenue guidance that we raised upwards from 144 million to 155 million in September , representing a 15% beat over our original 21 guidance.
Importantly, we accomplished these record levels, while generating 104 million of adjusted gross profit at a 63% gross profit margin.
Rick Correa: Importantly, we accomplished these record levels while generating $104 million of adjusted gross profit at a 63% gross profit margin.
Rick Correa: Our 2021 for year gross profit margin of 63% represents a 25% increase over full year 2020. This is a critical differentiator for Moneylion as historical investments in our technology platform, data, and artificial intelligence driven processes are translating into margin expansion.
Our 2021 for the year gross profit margin of 63% represents a 25% increase over full year 'twenty 'twenty. This is a critical differentiator for moneyline as historical investments our technology platform data and artificial intelligence driven processes are translating into margin expansion.
Three key performance metrics drove our performance. Those include total customers total originations in total products first total customers, which is defined as the cumulative number of customers that have opened at least one account, including banking membership secured a personal loan into cash advance to managed investment.
Rick Correa: Three key performance metrics drove our performance. Those include total customers, total originations, and total products. First, total customers, which is defined as the cumulative number of customers that have opened at least one account, including banking, membership, secured a personal loan, Instacash advanced, a managed investment account, a cryptocurrency account, or affiliate products.
Count of crypto currency account or affiliate product.
Speaker Change: As Dee mentioned, our customer growth continues to be above plan as we added approximately 600,000 new customers in Q4 and ended the quarter with 3.3 million customers, representing a 129% year-over-year increase.
As Dave mentioned, our customer growth continues to be above plan as we added approximately 600000, new customers in Q4 and ended the quarter with 3.3 million customers, representing 129% year over year increase.
Given our 70 dollar ARP, who are the user in the first 12 months on our platform with mature cohorts, yielding over $135, a PARP who.
Speaker Change: Given our $70 ARPU on a user in the first 12 months on our platform, with mature cohorts yielding over $135 of ARPU.
Speaker Change: These customers continue to represent strong unit economic potential and revenue growth.
These customers continue to represent a strong unit economic potential and revenue growth.
Shifting to our operating metrics total originations, which is defined as the dollar volume of the secured personal loans originated and instant cash advances funded within the stated period.
Speaker Change: Shifting to our operating metrics, total originations, which is defined as the dollar volume of the secured personal loans originated and Instacash advance is funded within the stated period.
From an accounting perspective originations is a key driver for our fee and interest revenue also.
Speaker Change: From an accounting perspective, Originations is a key driver for our fee and interest revenue. Also,
Speaker Change: Given the gap requirement to book credit provisions and reserves up front, this metric, along with our provisions line, provides transparency into the strong performance of our credit product.
Given the GAAP requirement to book credit provisions and reserves upfront. This metric along with our provisions line provides transparency into the strong performance of our credit products.
This of course highlights where originations in excess of our plan can drive noncash provision expenses on our statement of operations.
Speaker Change: This of course highlights where originations in excess of our plan can drive non-cash provision expenses on our Statement of Operations.
However, as you will see from the provision to originations ratio later in the presentation credit performance is very consistent which is indicative of our highly predictive AI based underwriting models.
Speaker Change: However, as you will see from the provision to originations ratio later in the presentation, credit performance is very consistent, which is indicative of our highly predictive AI-based underwriting model.
Speaker Change: We had yet another consecutive record quarter with 386 million of origination.
We had yet another consecutive record quarter with 386 million of originations.
Speaker Change: which is a 149% year-over-year increase and translated directly into our Q4 revenue performance.
Which is 149% year over year increase and translated directly into our Q4 revenue performance.
Speaker Change: This also provides strong momentum for upcoming quarters.
This also provides strong momentum for upcoming quarters.
Lastly, total products is a key driver of both engagement and revenue products is the total number of products that our customers have opened including banking membership subscription.
Speaker Change: Lastly, total products is a key driver of both engagement and revenue.
Speaker Change: Products is the total number of products that our customers have opened including banking membership subscription,
Our secured personal loan in.
Speaker Change: instacash advance, a managed investment account, a cryptocurrency account, an affiliate product, or signing up for our financial tracking service.
Instant cash advance our managed investment account, a crypto currency account and affiliate product or signing up for our financial tracking services.
Speaker Change: If a customer is funded multiple Secured Personal Loans or Instacash advances, it is only counted once for each product type.
If a customer's funded multiple secured personal loans or into cash advances. It is only counted once for each product type.
Speaker Change: From a business equation perspective, we see this as a better metric versus any one of our standalone product KPIs as it demonstrates the utilization of products across the platform.
From a business equation perspective, we see this as a better metric versus any one of our standalone product kpis as it demonstrates the utilization of products across the platform.
Speaker Change: Total products were at a record $8 million, which is a 79% year-over-year increase and is driven by strong product adoption and cross-selling and continues our strong revenue-per-product trend.
Total products were at a record 8 million, which is a 79% year over year increase and is driven by strong product adoption and cross selling and continues our strong revenue per product trend.
Importantly, the increasing total product trend drives our ability to increase our <unk> from $70 for all customers to $135 of our pool for mature cohorts.
Speaker Change: Importantly, the increasing total product trend drives our ability to increase ARPU from $70 for all customers.
Speaker Change: to $135 of ARPU for mature cohorts.
Speaker Change: meaning customers that are on the platform for more than 12 months.
Meaning customers that are on the platform for more than 12 months.
Speaker Change: Our success in cross-selling current and new products to customers is evidenced in both the ARPU and revenue per product trend.
Our success in cross selling current and new products to customers is evidenced in both the <unk> and revenue per product trend.
Our CAC continues to be well within plan and will increase further inefficiency with the close of the even financial acquisition and drives a market leading sub six month payback period.
Speaker Change: Our CAC continues to be well within plan and will increase further in efficiency with the close of the Even Financial Acquisition and drives a market-leading sub-six-month payback period. Looking at our financial summary, adjusted
Looking at our financial summary.
Adjusted revenue by type highlights our detailed revenue performance.
I want to remind you that we report across four revenue types.
Speaker Change: I want to remind you that we report across four revenue types.
Fees, which is our largest revenue type represents revenue from our into cash and credit builder plus membership is made up primarily of optional instant transfer fees and membership subscriptions.
Speaker Change: Fees, which is our largest revenue type, represents revenue from our Instacash and CreditBuilder Plus membership. It is made up primarily of optional instant transfer fees and membership subscriptions.
Speaker Change: Fees generated $39 million of revenue in Q4, representing yet another record revenue quarter and an 89% year-over-year increase in full-year fee revenue of $125 million, 105% year-over-year
<unk> generated 39 million of revenue in Q4, representing yet another record revenue quarter, and an 89% year over year increase and full year fee revenue of $125 million.
105% year over year increase.
We continue to see the benefits of user growth and product adoption and instant cash utilization of instant transfers are high returning customer base and user capacity optimization drove consistently strong performance in the quarter some.
Speaker Change: We continue to see the benefits of user growth and product adoption in Instacash utilization of instant transfers. Our high returning customer base and user capacity optimizations drove consistently strong performance in the quarter.
Similarly.
Speaker Change: Credit Builder Plus memberships continued a strong pace as users benefited from bundled pricing and exclusive rewards.
Credit builder, plus memberships continued a strong pace as users benefited from bundled pricing and exclusive rewards.
Payments. These represent revenue from merchant paid interchange a T M out of network fees and a user admin fee.
Speaker Change: Payments. These represent revenue from Merchant Paid Interchange, ATM out-of-network fees, and a user admin fee.
Speaker Change: Payments generated $3 million of revenue in the quarter, representing a 54% year-over-year increase, and full-year payments revenue of $14 million, representing a 107% year-over-year increase.
Payments generated 3 million of revenue in the quarter, representing a 54% year over year increase in full year payments revenue of $14 million, representing 107% year over year increase well.
While the largest component of revenue merchant paid interchange experienced some seasonality and volatility driven by share rates that vary by merchant and purchase charge backs.
Speaker Change: While the largest component of revenue, merchant-paid interchange, experienced some seasonality and volatility driven by share rates that vary by merchant, and purchase
Payments revenue continues to be an important offering from a platform perspective as it drives lifetime value by unlocking both user data and a better experience across our higher margin products.
Speaker Change: Payments revenue continues to be an important offering from a platform perspective as it drives lifetime value by unlocking both user data and a better experience across our higher margin products.
Advice.
Speaker Change: This represents revenue earned from our managed investing platform and our third-party product marketplace and revenue from Malka Media, which closed in mid-quarter Q4.
This represents revenue earned from our managed investing platform and our third party product marketplace and revenue from bulk of media, which closed in mid quarter Q4.
Not only is this our fastest growing revenue type, but strategically this is an important growth area as we continue to surround our customers with engaging content that provides advice entertainment and education.
Speaker Change: Not only is this our fastest-growing revenue type, but strategically, this is an important growth area as we continue to surround our customers with engaging content that provides advice, entertainment, and education based on user data observations. Then, at the right moment, we cross-sell financial and non-financial products and offers to customers.
Just on the user data observations then at the right moment, we cross sell financial and nonfinancial products and offers to customers.
In Q4, we generated $9 4 million of revenue up from 1.4 million last year.
Speaker Change: In Q4, we generated $9.4 million of revenue, up from $1.4 million last year.
Full year 'twenty 'twenty advice revenue was $17 million versus 3 million in 2020.
Speaker Change: Full year 2020 advice revenue was $17 million versus $3 million in 2020.
Speaker Change: Subsequent to the year end, we closed the acquisition of Even Financial Marketplace.
Subsequent to the yearend, we closed the acquisition of even financial marketplace.
Speaker Change: which as Dee explained, represents significant strategic value and will also contribute meaningfully to the growth of our advice revenue.
Which is D explained represents significant strategic value and will also contribute meaningfully to the growth of our advice revenue.
Speaker Change: Interest. This represents the interest from our secured customer loan products that we make available as part of the Credit Builder program.
Interest this represents the interest from our secured customer loan products that we make available as part of the credit build a program at.
Speaker Change: It generated $2.7 million of revenue in the quarter, which is up 82% year over year.
It generated 2.7 million of revenue in the quarter, which is up 82% year over year.
Full year revenue is 10 million, representing an 87% year over year improvement.
Speaker Change: Full year revenue is $10 million, representing an 87% year-over-year improvement.
While secured lending is an important product in the platform to be able to meet the full spectrum of customer needs.
Speaker Change: While secured lending is an important product on the platform to be able to meet the full spectrum of customer needs.
Speaker Change: Our focus is to make the credit available while monetizing through our other product offerings.
Our focus is to make the credit available while monetizing through our other product offerings.
Shifting to EBITDA.
Speaker Change: As Dee highlighted, we are taking advantage of our product market fit, attractive unit economics, and payback period, our 66% adjusted gross profit margins, and unique platform to drive growth from both a user and product perspective.
As D highlighted we're taking advantage of our product market fit attractive unit economics, and payback period or 66% adjusted gross profit margins and unique platform to drive growth from both a user and product perspective. These growth investments of course had short term negative implications to GAAP net income.
Speaker Change: These growth investments, of course, had short-term negative implications to gap net income, contributing to a Q4 adjusted EBITDA loss of $32 million.
Greeting to our Q4, adjusted EBITDA loss of $32 million.
Speaker Change: However, we strongly believe driving compounded growth at attractive gross profit margins strategically represents the optimal use of our balance sheet and will accelerate our path to profitability.
However, we strongly believe driving compounded growth at attractive gross profit margins strategically represents the optimal use of our balance sheet and will accelerate our path to profitability.
Note that we do not include origination financing in adjusted EBITDA, but of course exclude interest on corporate debt.
Speaker Change: Note that we do not include origination financing in adjusted EBITDA, but of course exclude interest on corporate debt.
Speaker Change: As you will see shortly, adjusted EBITDA is the metric that we will use on a go-forward basis for earnings guidance.
As you will see shortly adjusted EBITDA is the metric that we will use on a go forward basis for earnings guidance.
Looking at adjusted net income as we discussed Q4 was another transformative period for moneyline shortly after becoming a public company in September which strengthened our balance sheet to adequately fund our financial plan, we delivered on several strategic initiatives outlined earlier of.
Speaker Change: Looking at adjusted net income, as we discussed, Q4 was another transformative period for MoneyLion. Shortly after becoming a public company in September , which strengthened our balance sheet to adequately fund our financial plan, we delivered on several strategic initiatives outlined earlier.
Speaker Change: Of course, with these strategic initiatives, we realized a few one-time expenses, but more importantly, we funded user and product growth outperformance, which fuels Q4 and creates strong momentum for Q1 in 2022.
Of course with these strategic initiatives, we realized a few one time expenses, but more importantly, we funded user and product growth outperformance, which fuels Q4 and create strong momentum for Q1 and 2022.
With that backdrop, our adjusted net loss for Q4, 'twenty, one is $34 million.
Speaker Change: With that backdrop, our adjusted net loss for Q4 21 is 34 million.
Speaker Change: Further, we do attribute $8 million in unplanned expenses from Malka and bank chargebacks and $4 million of costs in the quarter from variable costs driven by our outperformance versus plan due to variable user acquisition and origination costs.
Further we do attribute 8 million unplanned expenses for Moca and bank charge backs and 4 million of costs in the quarter from variable costs, driven by our outperformance versus plan due to variable user acquisition and origination costs.
Speaker Change: Given our consistent user CAC, short payback periods, increasing revenue per product, and consistent credit performance, our focus on growth outperformance is warranted and will continue to be a priority in Q1.
Given our consistent user CAC short payback periods, increasing revenue per product and consistent credit performance. Our focus on growth outperformance is warranted and will continue to be a priority in Q1, excluding these costs from outperformance metrics. Our adjusted net loss was 22 million for Q4.
Speaker Change: Excluding these costs from outperformance metrics, our adjusted net loss was $22 million for Q4.
Speaker Change: Before moving into 2022 guidance, we want to provide transparency into two items affecting our Q3 2021 financial.
Before moving into 2022 guidance, we want to provide transparency into two items affecting our Q3 2021 financials first a net 4 million noncash fair market value adjustment to our Q3 reported net loss and second the calculation of diluted net income per share for Q.
Speaker Change: First, a net $4 million non-cash fair market value adjustment to our Q3 reported net loss. And second, the calculation of diluted net income per share for Q3 should have included the impact of diluted security.
<unk> three should have included the impact of dilutive securities.
Both of these isolated items have resulted in a restatement of the Q3 financials on form 10, QA, which we released today again. These are noncash adjustments being made to the Q3 2021 financials and have no impact to our Q3 or Q4 2021 operating performance they are.
Speaker Change: Both of these isolated items have resulted in a restatement of the Q3 financials on Form 10-Q A, which we released today. Again, these are non-cash adjustments being made to the Q3 2021 financials and have no impact to our Q3 or Q4 2021 operating performance. They have no impact to our adjusted EBITDA or adjusted net income metrics, given we already exclude fair market value adjustments.
No impact to our adjusted EBITDA or adjusted net income metrics, given we already exclude fair market value adjustments. They have no impact to our cash position or 2022 guidance and there are isolated to the intra quarter completion of the IPO.
Speaker Change: They have no impact to our cash position or 2022 guidance and they are isolated to the intra-quarter completion of the IPO.
Lastly.
We are highly encouraged by the performance of our business and the momentum with which we entered 2022.
Speaker Change: We are highly encouraged by the performance of our business and the momentum with which we entered 2022.
Speaker Change: Our strategic acquisitions, growth priorities, platform investments, and product optimizations give us considerable confidence in our business equation. And as such, we are expecting strong originations, customer ads.
Our strategic acquisitions growth priorities platform investments and product optimizations give us considerable confidence in our business equation and as such we are expecting strong originations customer adds.
Speaker Change: and product adoption to drive 2022 full-year revenue of between $325 million and $335 million at a 60-65% gross profit margin that will put us on a path to profitability.
In product adoption to drive 2022 full year revenue of between 325 and $335 million at a 60% to 65% gross profit margin that will put us on a path to profitability.
Speaker Change: In 2022, we are expecting a 45 to 50 million full year EBITDA loss. However, as a testament to our platform strategy and unit economics, we expect to exit 2022 with a break-even adjusted EBITDA.
And 2022 we're expecting a 45 to 50 million full year EBITA loss. However, it's a testament to our platform strategy and unit economics, we expect to exit 2022 with a breakeven adjusted EBITDA.
Speaker Change: Looking at our Q1 2022 guidance, in terms of this quarter, we were expecting to generate $60-65 million in revenue at a 60-65% gross profit margin.
Looking at our Q1 2022 guidance in terms of this quarter, we were expecting to generate 60 to 65 million of revenue at a 60% to 65% gross profit margin.
Speaker Change: with an EBITDA loss of $20-25 million, which again puts us on our near-term path to profitability.
With an EBITDA loss of $20 million to $25 million, which again puts us on our near term path to profitability.
Speaker Change: As you can sense from our tone, we are very bullish on MoneyLion and look forward to being the platform of choice for hardworking Americans. With that, I'll turn it back to Dee for final comments and Q&A.
As you can sense from our tone, we are very bullish on moneyline and look forward to being the platform of choice for hardworking Americans with that I'll turn it back to D for final comments and Q&A.
Thank you very much Rick in conclusion, I'll say it again moneyline is pioneering a unique hyper personalized money and lifestyle feed powered by an individual customers own data.
Dee: Thank you very much, Rick. In conclusion, I'll say it again. Moneyline is pioneering a unique, hyper-personalized money and lifestyle feed powered by an individual customer's own data.
Dee: We engage in educator customers with money related and money adjacent content, including video podcasts, shows, live events and seminars. This helps us create a long term relationship.
We engage an educator customers with money related and money adjacent content, including video podcasts shows live events and seminars. This helps us create a long term relationship with the user our business equation works by monetizing through our proprietary first party financial products like banking credit instead.
Dee: Our business equation works by monetizing through our proprietary first-party financial products like banking, credit, instacash, investing, crypto, and advice, and third-party products through our marketplace technology, even financial. This strategy allows us to rewire the American financial system to positively change the path of every hardworking American.
Cash investing crypto and advice and third party products through our marketplace technology, even financial this strategy allows us to rewire, the American financial system to positively change the path of every hard working American thank.
Speaker Change: Thank you very much for spending some time with us today. With that, I'll turn it over to the operator for Q&A. Thank you, sir.
Thank you very much for spending some time with us today with that I'll turn it over to the operator for Q&A.
Thank you Sir.
At this time, we'll be conducting a question and answer session. If you'd like to ask a question. Please press star one on your telephone keypad.
Speaker Change: If you'd like to ask a question, please press star 1 on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star 2.
A confirmation tone will indicate your line is in the question queue.
You May press star two if you'd like to remove your question from the queue for.
Speaker Change: For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star key.
For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys.
And our first question will comes from George Sutton with Craig Hallum. Please proceed with your question.
Speaker Change: And our first question comes from George Sutton with Craig Callum. Please proceed with your question.
Thank you guys nice to finally have these results so.
You mentioned, the big bet that you're making which I found to be an interesting way to look at this could.
George Sutton: Dee, you mentioned the big bet that you're making, which I found to be an interesting way to look at this. Could you talk about what you mean by the big bet and how do we best measure the success in your view of that bet?
Could you talk about what you mean by the Big bet and how do we best measure of success in your view of that bet.
Sure so as.
Dee: Sure, so as we said in the.
As we said in the in.
Dee: in the conversation, we acquired Even Financial. So if you think about what Even Financial is, it is.
In the conversation we acquired even financial so if you think about what even financial is it is.
Dee: purely infrastructure technology to connect.
Purely infrastructure technology to connect.
Dee: 500 channel partners to 400 financial product manufacturers.
500 channel partners to 400 financial product manufacturers and with that technology money wine list gets to live everywhere. So if you think about some of the challenges that the industry faces the market faces its all around customer acquisition and what this infrastructure gives us is an unfair advantage in.
Dee: And with that technology, Moneyline gets to live everywhere. So if you think about some of the challenges that the industry faces or the market faces, it's all around customer acquisition. And what this infrastructure gives us is an unfair advantage in our ability to provide our first-party product.
Our ability to provide our first party products inside all of those 500 financial partners on.
Dee: Inside all of those 500 financial partners on the front end as well as on the back end. So with that
On the front end as well as on the backend so with that.
Dee: API Rail, we get to become, if you will, embedded inside of the websites, the portals.
A P I O L. We get to become if you will embedded inside of the websites. The portals the entertainment sites, where our customers are spending a lot of their time. So if you think about the CAC and the customer acquisition model on the one side, we have a creator network, where we're now engaging with.
Dee: entertainment sites where our customers are spending a lot of their time. So if you think about the CAC and the customer acquisition model, on the one side we have our creator network where we're now engaging with consumers on TikTok, on Instagram and social media sites. And then with even financial, we're now engaging with consumers wherever they're spending their attention. So this idea of money line everywhere is the big bet that we're making with the two acquisitions.
Consumers on Tech talk on Instagram, and social media sites, and then with even financial we're now engaging with consumers wherever they are spending their attention. So this idea of moneyline everywhere is the big bet that we're making with the two acquisitions.
No I'm fascinated by the opportunity provided by the $7 5 million.
Speaker Change: Now, I'm fascinated by the opportunity provided by the 7.5 million folks that you've brought in but have not yet gotten a product. Can you talk about how even influences that opportunity? And then how does it also influence that $130 mature cohort number that you talked about?
Folks that you've brought in but have not yet gotten the product can you talk about how even influences that opportunity and then how does that also influence that $130 mature cohort number that you talked about.
Yeah, It's a great questions. If you look at our evolution in whereas we started the business. We were a monoline lending product from 2013 to 2017, we added Robo advisory because we saw that the average American household didn't need alone more than two or three times.
Speaker Change: Yeah, it's a great question. So if you look at our evolution in as we started the business, we were a monoline lending product from 2013 to 2017. We added robo advisory because we saw that the average American household didn't need a loan more than two or three times a year. And we were very specific and we were very intentional with the user base that we were going after.
A year and we were very specific and we were very intentional with a user base that we're going after as our data advantages compounded over the years. We now have seen over 17 million bank accounts linked to my lines. So what this gives US is treats German tells us exactly how many tacos get eaten Texas happening how much gas goes in the cars in Ohio and that Mike.
Speaker Change: As our data advantage has compounded over the years, we now have seen over 17 million bank accounts linked to MoneyLion. So what this gives us is truth serum. It tells us exactly how many tacos you could eat in Texas, how much gas goes in the cars in Ohio. And that microeconomic view of the American consumer on an aggregate basis has made MoneyLion
So economic view of the American consumer on an aggregate basis has made moneyline are really a data play from from an engagement perspective, and now what we see is that instead of being very specific from a segmentation perspective, the existence of even financial up.
Speaker Change: really a data play from an engagement perspective. Now what we see is that instead of being very specific from a segmentation perspective, the existence of even financial, up-market products, higher FICO products, student loans.
Market products higher FICO products student loans every American and I said this in the end.
Speaker Change: Every American, and I said this in the earnings call, that every American consumer now can download Moneyline, engage with our blogs, engage with our content, and find a path, a customized and personalized path for the right product. So if you think about some of the capabilities we now have with Even, if you're looking for a mortgage,
And in the earnings call that every American consumer now can download moneyline engage with our blogs and engage with our content and find a path a customized and personalized path for the right product. So if you think about some of the capabilities. We now have with even if you are looking for a mortgage you can look at you can look for that mortgage through money.
Speaker Change: You can look at, you can look for that more just through Moneyline. If you're looking for an insurance product, come to Moneyline. And not only will we provide the right product, we'll customize it and we'll give you a playback of how that fits into your specific lifestyle and your.
I think we're looking for an insurance product come to moneyline and not only will we provide the white product will customize it and we'll give you a playback of how that fits into.
Your specific.
Lifestyle and your specific financial profile.
As a customer currently in Texas planning I've tacos for lunch, so if I'm a very humbling.
Speaker Change: As a Moneyline customer currently in Texas planning to have tacos for lunch, I find that very humbling. Lastly, if I could...
Yes, Lee if I could you mentioned 69 million impressions.
Speaker Change: You mentioned 69 million impressions from Malka in the quarter. Can you just give us any sense of a way to quantify that in terms of value?
From market in the quarter can you just give us any sense of a way to quantify that in terms of value to you.
Yeah. It's a great question. So when you look at what our trend wise in terms of cat, we've always had that market leading CAC.
Speaker Change: Yeah, that's a great question. So, you know, when you look at what our trend was in terms of cap, we've always had that market leading cap.
Speaker Change: And we saw a slight increase to that when we were in Q3 and in Q4, we saw that coming back in. And that's part of that strategy in terms of the brand awareness and the investment that we've made with the multimedia acquisition. So we continue to see that translate into what is a low 20s tack for us. And so that's where you'll see the value from those impressions.
And we saw a slight increase to that no longer in Q3 and into Q4, we saw that coming back in and that's part of that strategy in terms of the brand awareness and the investment that we've made with the multimedia acquisition. So we continue to see that translate into what is a low twenties cat.
For us and so that's where you'll see the value from those impressions.
Thanks Scott.
Thank you our next question, Josh Seigler with Cantor Fitzgerald. Please proceed with your question.
Speaker Change: Thank you. Our next question comes from Josh Siegler with Cantor Fitzgerald. Please proceed with your question.
Yeah, Hi, good morning. Thanks for taking my question can we have an update on the integration process with even in which quarter will we start seeing a material impact and is that factored into your current guidance.
Josh Siegler: Yeah. Hi. Good morning. Thanks for taking my question. Can we have an update on the integration process with EVEN? You know, in which quarter will we start seeing a material impact? And is it factored into your current guidance?
Yeah. Thanks, Josh for the question, Yes, certainly it is factored into our guidance, where youll start to see those synergies is through our affiliates marketplace business.
Speaker Change: Yeah, thanks, Josh, for the question. Yeah, certainly it is factored into our guidance. You know, where you'll start to see those synergies is through our affiliates marketplace business. And you'll also start to see it in terms of our CAC as we continue to expand that top of funnel through the even marketplace. And then lastly, the ability for us to distribute Moneylion's first party products into that ecosystem. You'll see us be able to kind of drive that product.
And you'll also start to see it in terms of our Tac as we continue to expand that top of funnel through the through.
Through the even marketplace and then lastly, the ability for us to distribute money Lyons first party products into that ecosystem, and you'll see us be able to kind of drive that products.
Speaker Change: KPI that you see that we have generated over 8 million products consumed on the platform. And so that's where you'll start to see the benefits of those acquisitions. In addition to that, with Malka Media, the synergies have already started to be integrated in terms of the customer experience. And so seeing just that enhanced feed, driving that content engagement and advice within the MoneyLion feed allows our customer to have that more engaging experience.
Kpis that you see that would be.
You'll have generated over 8 million kind of products consumed on the platform and so thats, where youll start to see the benefits of those acquisitions. In addition to that with multimedia the synergies have already started to be integrated in terms of the customer experience and so seeing just that enhanced feed drive net content engagement.
And advice within the money live feed allows a customer to have that more engaging experience drives that lifetime value, which is youll see continues to expand out with the multimedia acquisition.
Speaker Change: drives that lifetime value, which, as you'll see, continue to expand out with the multimedia acquisition.
Great. Thank you for the color there.
Speaker Change: Great. Thank you for the color there. My other question, how did retention trends in 4Q, and do you expect it to actually improve as we move into 2022, especially considering the additional solutions and content you're bringing to the platform?
The other question how did retention trend in four Q and do you expect it to actually improve as we move into 2022, especially considering the additional solutions and content you are bringing in the platform.
Yeah.
Yeah retention continues to be an exciting metric for us in that as we've both increased that engagement and the advice and content with no platform alongside having now not only first party products, but a massive expansion of third party products that are available allow us to surround the customer with that right set of financial.
Speaker Change: Retention continues to be an exciting metric for us in that as we've both increased that engagement and the advice and content within the platform alongside having now not only first-party products, but a massive expansion of third-party products that are available, allow us to surround the customer with that right set of financial products.
Speaker Change: and allows us to start to even offer non-financial products. And so we're seeing retention continue to be that improving metric for us.
<unk> and allows us to start to even offer non financial products and so we're seeing retention continued to be that improving metric for us across the platform and certainly we headed into 2022 with a lot of momentum.
Speaker Change: across the platform and certainly headed into 2022 with a lot of momentum around just extending that lifetime value.
Around just extending that lifetime value.
Great. Thank you.
Speaker Change: As a reminder, if you'd like to ask a question, please press star 1 on your telephone keypad. One moment, please, while we poll for further questions.
As a reminder, if you'd like to ask a question. Please press star one on your telephone keypad one moment. Please while we poll for further questions.
Right.
Yeah.
Okay.
Speaker Change: And ladies and gentlemen, at this time, this concludes our question and answer session. I would now like to turn the call back over to Mr. Chauvet for closing remarks.
And ladies and gentlemen at this time. This concludes our question and answer session I would now like to turn the call back over to Mr. Zhao for closing remarks.
Thank you very much. Thank you all for joining our full year results. We report to a bang out 2022, and we look forward to doing this again for Q1 and a couple of months. Thank you very much.
Chauvet: Thank you very much. Thank you all for joining our full year results. We look forward to a Banyan 2022 and we look forward to doing this again for Q1 in a couple of months. Thank you very much.
Ladies and gentlemen, this does conclude today's teleconference. You may disconnect. Your lines at this time. Thank you.
Speaker Change: Ladies and gentlemen, this does conclude today's teleconference. You may disconnect your lines at this time. Thank you for your participation.
You for your participation.
Speaker Change: ?? ?? ?? ?? ?? ??
Okay.
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