MoneyMe (ASX:MME) shares gain on quarterly update - Kalkine Media

April 26, 2022 12:00 PM AEST | By Sonal Goyal
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  • MoneyMe has marked 141% rise in group’s revenue in third quarter of 2022.
  • It has reported 398% increase on in the gross customer receivables.
  • On 15 March 2022, MoneyMe completed the acquisition of SocietyOne.

Shares of MoneyMe Limited (ASX:MME) were trading 5.88% higher today (26 April 2022) at AU$1.44 apiece at 10:26 AM AEST on the ASX. The stock has outperformed its benchmark financial index (XFJ), which has dropped by 1.44% to 6,732.40.

Diversified financial company, MoneyMe, has reportedly delivered a strong set of numbers during the third quarter of the financial year 2022 (3Q22).

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Key highlights of the MoneyMe's third quarterly update

MoneyMe has recorded 141% growth in revenues and 94% rise in contracted revenues for the quarter ending 31 March 2022 as compared to the previous corresponding period. With this, revenues have reached AU$35 million and contracted revenues touched AU$345 million.

The ASX-listed firm has reported a 398% increase in the gross customer receivables to AU$1.2 billion. With increasing demand, the demand for originations continued to rise in the 3Q22 as it increased by 215% to AU$340 million on pcp basis (previous corresponding period). Secured originations of AU$158 million and unsecured originations of AU$182 million make up the total originations.

For the 3Q2022, the closing average Equifax score stood at 695. Over the quarters, the score has improved significantly, as it was 645 in 3Q22. MoneyMe has not specified the reason behind the growth in Equifax score.

Equifax's score is based on the credit activities and history of the organisation or individual. The three-digit score generally ranges from 300 to 850. Moreover, a score above 750 is seen as a good score.


The small-cap company reportedly said that it raised its external funding capacity in the third quarter to AU$1.4 billion. The company is planning to further increase its capacity to support growth in gross receivables.

On the development, CEO and managing director of MoneyMe, Clayton Howes, commented:


Worth mentioning here is that the third-quarter results include SocietyOne (acquired entity) on 15 March 2022.

Acquisition of SocietyOne by MoneyMe


Image source: © Artistashmita |

Online consumer lender, MoneyMe has shared the key benefits of buying SocietyOne, including profit growth, customer growth, and boosting revenues. The company expects to unlock new distribution opportunities, take advantage of SocietyOne's existing customer base and achieve material cost synergy.

According to the ASX-announcement, in the post-acquisition, the company's focus will be to initiate cross-selling, beginning with implementing the technology integration and bringing the people to a cost reduction plan in place.

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