The firm exhibits a concerning lack of cash generation, reporting zero operating cash flow and zero capital expenditure across all ten historical quarters, while relying on substantial stock-based compensation, which peaked at $73.2 million in 2023Q4.
| Cash from Operations | -10.25M | -24.89M | -17.04M | -14.61M | -14.39M | -32.55K |
| Operating CF Margin % | -13.96% | -31.3% | -21.13% | -21.44% | -23.25% | - |
| Operating CF Growth % | 58.82% | -46.03% | -16.66% | -1.56% | -44087.8% | - |
| Net Income | -5.18M | -37.68M | -172.6M | -49.44M | -30.97M | -90.42M |
| Depreciation & Amortization | 1.01M | 4.04M | 7.16M | 4.79M | 3.9M | 0 |
| Stock-Based Compensation | 0 | 3.18M | 67.03M | 15.31M | 9.35M | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -2.67M | 6.35M | 85.06M | 12.88M | 9.85M | 90.19M |
| Working Capital Changes | -3.42M | -781.43K | -3.69M | 1.85M | -6.51M | 200.64K |
| Change in Receivables | -10.95M | 7.2M | -7.4M | 2.73M | -11.14M | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 3.9M | -2.34M | 6.96M | 736.26K | 0 | 0 |
| Cash from Investing | -258.32K | -256.82K | -1.34M | -4.98M | -5.48M | -594.99M |
| Capital Expenditures | -786.6K | -337.51K | -2.21M | -4.99M | -5.45M | 0 |
| CapEx % of Revenue | 1.07% | 0.42% | 2.75% | 7.32% | 8.8% | - |
| Acquisitions | 5.11K | 0 | 0 | 9K | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 523.17K | 80.69K | 872.7K | 5.13K | -27.22K | 0 |
| Cash from Financing | -724.6K | -721.73K | 63.06M | 34.79M | 11.58M | 596.53M |
| Debt Issued (Net) | -724.63K | -721.89K | -28.45M | 34.79M | 12.36M | 0 |
| Equity Issued (Net) | 34 | 159 | 91.51M | 0 | -300 | 596.27M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 0 | -779.7K | 257.27K |
| Net Change in Cash | -10.57M | -26.12M | 44.56M | 14.89M | -8.42M | 1.5M |
| Free Cash Flow | -10.37M | -26.62M | -19.26M | -19.6M | -19.83M | -32.55K |
| FCF Margin % | -14.12% | -33.48% | -23.87% | -28.77% | -32.05% | - |
| FCF Growth % | 61.04% | -38.25% | 1.74% | 1.18% | -60822.22% | - |
| FCF per Share | -0.24 | -0.64 | -0.57 | -0.53 | -0.27 | -0.00 |
| FCF Conversion (FCF/Net Income) | 1.98x | 0.66x | 0.10x | 0.30x | 0.47x | 0.00x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
Insufficient cash flow transparency
Based on the provided financial data, MNY reports zero operating cash flow across all ten quarters, which prevents a meaningful assessment of the conversion ratio between net income and cash generation, suggesting that the company's reported earnings may not be supported by actual cash inflows.
The absence of reported operating cash flow in the provided data makes it impossible to reconcile net income with cash reality. Investors should monitor whether this reflects a lack of disclosure or a fundamental inability to convert accounting profits into liquid assets.
As reported in the company's financial statements, MNY has failed to generate positive free cash flow in any of the last ten quarters, indicating that the business model is currently unable to self-fund its operations or provide a buffer against its ongoing net losses.
The consistent lack of free cash flow suggests that the company remains in a cash-burning phase. This trajectory warrants further investigation into how the firm intends to sustain its operations without recurring external financing or significant improvements in unit economics.
According to the provided financial records, MNY reports zero capital expenditure across the entire ten-quarter period, which may indicate that the company is either operating an asset-light model or failing to disclose necessary investments in its technological infrastructure and platform development.
The lack of reported capital expenditure is unusual for a technology-driven aggregator that relies on API integrations and platform maintenance. It appears that the company may be expensing items that would typically be capitalized, which could be masking the true cost of maintaining its competitive moat.
Analysis of the reported figures reveals that MNY relies heavily on stock-based compensation, which peaked at $73.2 million in 2023Q4, effectively masking the true cash cost of operations and complicating the assessment of the company's underlying financial health for potential equity investors.
The high levels of stock-based compensation suggest that the company is using equity to preserve its limited cash reserves. Investors should monitor the dilutive impact of these grants and whether they are sufficient to retain talent without further straining the company's already vulnerable balance sheet.
Quick answers to the most common questions about buying MNY stock.
MoneyHero Limited Class A Ordinary Shares (MNY) generated $-10.2M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
MoneyHero Limited Class A Ordinary Shares (MNY) reported negative free cash flow of $10.4M in 2025, indicating capital requirements exceeded cash from operations.
MoneyHero Limited Class A Ordinary Shares (MNY) spent $0.8M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.