Hello, everyone. Thank you for joining us, and welcome to MoneyHero Group's 2025 second quarter earnings conference call. We're currently on the call today with Rohith Murthy, CEO, and Danny Leung, Interim CFO. Our earnings release was issued earlier today and is now available on our website as well as via Global News Roundtable. Before we begin, I would like to remind you that today's call will include a forward-looking statement made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Please refer to the safe harbor statement in our earnings press release, which applies to this call. In addition, please note that today's discussion will include both IFRS and non-IFRS financial measures for comparison purposes only. For a reconciliation of these non-IFRS measures to the most directly comparable IFRS measures, please refer to our earnings release and SEC filings. All MoneyHero Group references will be in US dollars, unless otherwise stated. Lastly, the replays of this conference call will be available on our investor relations website. I will now turn the call over to Rohith, our CEO of MoneyHero Group. Please go ahead. Thank you, and thanks to everyone for joining. When I became CEO last year, we set a simple goal: reshape MoneyHero for durable, profitable growth. Prioritize quality over quantity, compound gross profit, and underpinning discipline. Q2 shows that plan working. Revenue mix continues to shift towards higher margin verticals, cost of revenue is down materially, and adjusted EBITDA losses regained. This puts us firmly on track for positive adjusted EBITDA in the second half of 2025. We're carrying strong momentum into H2, driven by over 20% sequential growth and a clear path to achieving our EBITDA goals. Now, for Q2 at a glance, we generated $18 million in revenue. Adjusted EBITDA came in at a loss of $1.95 million. Cost of revenue was 51%, and around 27% of total revenue was contributed by insurance and wealth. We also reported net income of $0.2 million in the quarter. From Q1 to Q2, revenue grew by over 20% sequentially. This all reflects strong execution on the key levers we have prioritized: mix, margin, and operating discipline. Now, for the progress versus the goals we set out in 2024, we organized execution around five pillars: consumer pool, conversion expertise, insurance brokerage, strong provider partnerships, and operating leverage. We've stayed on that trumpet. Traffic is getting smarter, journeys are faster, insurance and wealth are rising as a share of revenue, and our cost base is leaner even as product velocity increases. Now, for the business highlights, I will focus on four key areas. First, we are selling premium insurance and wealth, including in the digital asset space. Auto insurance is scaling with real-time pricing and end-to-end digital journeys across Hong Kong and Singapore. This has significantly boosted conversion rates as our integrations deepen. Travel insurance is now a three-click purchase with materially higher completion rates. In wealth, we've broadened our marketplace. This includes regulated collaborations with leading digital asset platforms like OSL, giving our consumers more choice through our disciplined regulatory-first approach. Now, to be clear, OSL is not a one-off. It reflects a measured, pragmatic strategy to participate in the digital asset space through licensed partners, ensuring both strong consumer utility and robust compliance. Second, our provider partnerships are strengthening our monetization engine. Our MoneyHero Best of Awards in Singapore attracted over 170 clients, enabling us to strengthen our partner relationships, unlock new fixed-fee opportunities, and significantly bolster our brand, effectively converting the trust in our ecosystem into high-quality revenue. Third, we are further realizing the potential of AI integration in our operations with clear and measurable outcomes. We are operationalizing AI with rewards intelligence, approval intelligence, yield intelligence, and AI-assisted service going live in select scenarios, with holdouts and guardrails firmly in place. We're also lowering CAC for approved application, improving approval quality, and raising first contact resolution. This approach is allowing us to deliver more with a flat headcount. Fourth, our unwavering cost discipline is driving real operating leverage. Our operating expenses remain tight as we continue to modernize our technology stack and tools. That discipline, paired with our shift to higher margin verticals, drives sequential EBITDA improvement, even as we invest in our business roadmap and partner integrations. Now, let's turn our attention to our outlook guidance and our broader value creation framework. Looking ahead, our H2 guidance reflects continued growth and profitability. We saw encouraging sequential revenue growth of over 20% from quarter one and expect to achieve similar levels of sequential revenue growth throughout the second half of the year. This trajectory will keep us on track for adjusted EBITDA breakeven in the second half of 2025, and we expect it to be driven by new bank and insurer actions, insurance and risk scaling, and also our fixed-fee programs. In general, we believe the current market environment is positive for fintechs that combine profitable growth with visible catalysts, and our H2 plan is built around those catalysts. This confidence is also built on our market leadership and industry consolidation. We are in a uniquely strong position: 8.6 million members, rising exposure to high margin verticals, 260-plus provider partnerships, and the strategic connectivity of our backers, all in markets experiencing attractive long-term adoption of digital finance. This creates a defensible flywheel that we continue to compound. As the market consolidates, our scale, balance sheet strength, and partner ecosystem puts us in pole position. We will act only when opportunities are strategically aligned and return effective. Now, for the next two to three years, we see a clear path to achieving 5% to 10% adjusted EBITDA margins. We expect this to be driven by our market leadership, improved revenue mix and quality, renewable economics in insurance, recording wealth monetization, and an AI-enabled operating leverage. That said, these are objectives, not formal guidance. We will continue to report progress with clarity and discipline. In closing, it's clear we are a simpler, stronger, and more focused company than we were a year ago. This is reflected in our improved mix, rising margins, and controlled operating expenses. Our H2 priorities, 20% or more sequential growth, EBITDA breakeven, and measured expansion in high margin verticals are already in motion. With that, thank you to our teams, partners, and community. Your dedication and ingenuity empower us as we face the future, confident in our ability to deliver continued growth and profitability. Now, I'll hand it to Danny to discuss the financials. Thank you, Rohith. We appreciate everyone taking the time to join us. As Rohith mentioned, when we pivoted the business in the second half of 2024, we set very clear financial priorities: improve the quality of revenue, expand gross margins, and tighten operating discipline. The numbers you'll hear from us today reinforce that the business model is structurally healthier than it was a year ago, and we are maintaining our clear path to sustainable profitability. Let me walk through the quarter in more detail, starting with revenue and mix. We reported revenue of $18 million in Q2, down 13% year-over-year. This discipline was the result of a very deliberate measure. Our position was to moderate lower margin credit card volume in favor of higher quality, higher margin verticals. The results show this: insurance revenue grew from 11% to 14% of total revenue year-over-year, and wealth grew from 11% to 13%, while credit cards by design ticked down slightly from 62% to 61%. Taken together, insurance and wealth contributed 27% of group revenue this quarter, up from 22% in the same period last year. This is exactly the kind of mix evolution we set out to achieve: more recurring, more defensible, and higher margin categories. Now, let's turn to gross margins and cost of revenue. Cost of revenue declined to 34% year-over-year, landing at 51% of revenue versus 67% in Q2 of last year. This material improvement reflects disciplined reward collaboration, smarter traffic, and stronger approval quality. Put simply, we are acquiring customers more efficiently and delivering applications with higher approval rates. These translate directly into healthier unit economics and ultimately stronger profitability. On the cost side, operating expenses, excluding net foreign exchange expenses, fell 37% year-over-year to $20.6 million. The savings were broad-based: advertising and marketing expenses were down 31%, technology costs down 58%, employee benefits down 45%, and G&A expenses down 27%. This reduction reflects a more disciplined and efficient way of operating, making better use of our platforms, processes, and tools, while still investing selectively in AI infrastructure, customer acquisition, and platform optimization. The result is a cost base that is higher, but also sharper and more productive. Next, profitability. The result of the improvements is in margins and reduced operating expenses. Profitability strengthened across every measure. Net income was $0.2 million in Q2, compared to a net loss of $12.2 million in the same quarter last year. Adjusted EBITDA loss narrowed to $2 million, an improvement from $3.3 million in Q1 and $9.3 million a year ago. The numbers paint a clear picture. Sequential progress is consistent and visible. Each quarter, the losses narrow, margins expand, and the business becomes more durable. This is exactly the path we outlined, and we remain confident in delivering positive adjusted EBITDA in the later part of 2025. On capital allocation, we remain flexible. We are deliberately reinvesting into the higher margin verticals, like insurance, personal loans, and wealth, which are growing as the share of revenue and often more every economics. We are also leaning into strategic initiatives such as Credit Hero Club with TransUnion in Hong Kong and regulated digital asset collaboration with licensed partners like OSL. As Rohith mentioned, this is not opportunistic dabbling. This is a programmatic, compliance-first strategy to participate in the digital asset ecosystem, where we can add consumer value responsibly. Going forward, we expect to continue seeing margin expansion and stronger operating leverage as the mix continues to improve and our cost discipline holds. The structural improvements are already visible in the numbers, and they provide a strong foundation for the quarters ahead. With that in mind, our financial priorities remain unchanged: deliver sustainable profitability, strengthen the balance sheets, and maximize long-term shareholders' value. We have come a long way in just one year. Revenue mix is healthier, costs are leaner, and margins are materially stronger. With these fundamentals in place, we are entering the second half of 2025 with confidence in both growth and profitability. That concludes our prepared remarks for today. I'll now turn the call over to the operator to begin the Q&A session. Operator, please go ahead. Thank you. If you'd like to ask a question, please press star-1-1. If your question has been answered and you'd like to remove yourself from the queue, please press star-1-1 again. One moment while we compile the Q&A roster. Our first question comes from William R. Gregozeski with Greenridge Global LLC. Your line is open. Hey, Rohith. Great quarter. I have a couple of questions for you. You've made references to using AI in the business. Can you talk a little bit more in detail on some of the initiatives you're actually doing with it, whether it's cost savings or revenue generation, or kind of what the depth of AI you're using is? Thanks, Phil. Sure. We're embedding AI in how we acquire, convert, and serve customers. We've really prioritized now production use cases, and we have clear holdouts and KPIs. The impact shows up in a lower cost to serve, a better conversion, and faster shipping without adding headcount. In terms of what's live now, there are a couple of use cases I can talk about. One is in AI customer support. We are automating 70% to 80% of incoming inquiries while maintaining our feed set. The benefits are threefold. Number one, there's a 24/7 coverage now, so there's reduced abandonment. There's instant response versus a multi-minute queue. We see the ability to absorb volume spikes without proportional stopping. As a result, the net effect is we have a lower service cost per case and a higher first contact resolution. Second is an AI competitive intelligence platform. We have an automated collection and analysis of all competitor offers, U.S. changes, and this cuts manual research time by approximately 90%. This feeds pricing and rewards decisions and really helps us prioritize product work where it moves conversion and also improves our approval-adjusted CAC and cost per approval. In terms of near-term revenue drivers, some of them are ready and some of them are piloting. One is the WhatsApp AI quote agent. This is with the auto insurance we launched in Singapore, and we're testing it and soon should be ready for deployment. What this essentially does is the agent guides the customer from a needs discovery to quote comparison and handoff for buying inside a messaging platform like WhatsApp. We expect meaningful conversion lift versus a web-based user journey. Second is AI media creation and experimentation. This is in development. Our goal is 70% to 80% reduction in just pure creative production spend. For a must-be testing cycle, I think hundreds of compliant variants generated, and we can score them automatically just so that we can scale all of this across these markets. Why all of this matters is just three points. One is the unit economics. We want a lower cost per approval and a lower cost to serve with our cost of rewards held in the low 50% and really improve our gross profit per dollar of revenue. Second is our operating leverage. Automation allows us to keep headcount flat while throughput increases. Finally, conversion and revenue. Guided journeys like the WhatsApp agent I mentioned just raise conversion rates and protect the funnel throughput outside business hours. Okay, great, great. I have three additional questions, and there might be some overlap in them. If you don't mind, I'll just ask all three, and you can answer either grouped or separately if that makes sense for you. I was curious about the key growth drivers for 2026 that you're looking for as far as top line and bottom line, and then specifically what the plans are for the insurance business to build that up and if there's milestones we should look for. Finally, just an update on the wealth and crypto side, and just if you can update on where we are in that process of expanding that business. Absolutely. Why don't I start with the wealth and crypto, and then I'll talk about the insurance, and then I'll finally touch upon how are we thinking about 2026. When it comes to wealth, we really view wealth, including digital assets, as an adjacency that extends our marketplace just beyond just credit cards and personal loans. We do this with a very capital-led, partner-led economics. I do want to emphasize our approach is regulatory-first. We route consumers only to licensed providers in each market, and we monetize this via a mix of a CPA for funded accounts, in some cases a tiered revenue share on flow products or just fixed-fee and sponsorship programs. In terms of partnerships and initiatives that I can talk about, one is our partnership with OSL in Hong Kong. We announced that collaboration. OSL, a licensed virtual asset platform in Hong Kong. This workstream is focused on a compliant onboarding journey, investor education, and a campaign-based acquisition. No balance sheet exposure for MoneyHero and no custody of customer assets. In terms of investment brokers, we continue to partner with a portfolio of licensed retail brokers across Hong Kong and Singapore. These relationships are a mix of CPA for funded accounts, revenue sharing selected products, and fixed-fee sort of sponsorships, both around product launches and campaigns. I'll take the insurance question that you mentioned about. For us, insurance is really a compounding engine. What I mean by that is it carries structurally for us higher margins. It renews annually in many lines and really benefits directly from our data, technology, and AI stacks. Our strategy has three parts when it comes to insurance. One is expand the supply depth and products. Second, streamline our journeys, and we're using AI for that. Three, keep tightening the unit economics so that insurance and wealth continue to rise as a share of revenue while our conversion and profitability improve. Let me talk a little bit about these three strategic sort of drivers. One is expand the supply depth and products, and we're doing that by rolling out more real-time and end-to-end integrations, both in car insurance and other sort of general insurance across Hong Kong and Singapore. What that simply means is that customers can quote, find, and just pay seamlessly on our vehicle. This is the single biggest driver of conversion and economics. I just speak about travel insurance, where we have a three-click purchasing journey that's already live, and it's delivering more than 40% end-to-end completion in Q2 alone. We are extending that UX to additional products and partners. Finally, we need to broaden the shelf with clients, and we are exploring even live insurance in Singapore via broker partnerships or even just structuring it as a profit share rather than a per lead. Number two, streamlining our journeys and lifting conversions. Now, AI is going to be a big part of it. I spoke about our playbook. This is really helping just target shoppers better, recommend the right sort of customer, resolve service faster. All of this will help us with lower approval-adjusted CAC, lower cost per approval, and just shorter fulfillment times. We're really excited about what we're testing with the AI-assisted WhatsApp service I spoke about in auto insurance in Singapore. We believe this can really improve conversion rates. We want to take the same sort of playbook also to scale our travel insurance completion rates, where we do combine real-time pricing, end-to-end APIs, and as I mentioned, we even have a three-click design. Finally, I spoke about tighter unit economics and monetization. We want to target insurance and wealth as a mix to be around 28% to 30% of group revenue in the second half. This is very consistent with our second-half profitability milestones. If we can do this while keeping our cost of revenue in the low 50s, as Danny mentioned, with smarter reward calibration and approval-aware bidding, and combine that with our real strong partner partnerships I spoke about that come in sponsorship programs, fixed fees, these are really material and repeatable for us. That's why our MoneyHero Best of Awards attracted 170-plus clients, and that really reinforces the engagement and monetization. I think finally, a great question around how are we thinking about 2026 because we are in terms of what the growth levers are. Frankly, though the growth levers, the structural growth levers are already in place, which we spoke about. What we're doing is we're building on that prudently as we think about even 2026. Just to recap the growth levers for us, insurance and wealth scaling. Now, we want this mix to continuously improve and contribute 30% or more of our group revenue. We want this supported by broader end-to-end coverage, higher quote-to-buy conversions, and, as I mentioned, newer product lines in Singapore and Hong Kong. Conversion rate improvements are continuous. We want to sustain our travel insurance three-click journeys. We want to scale our auto insurance real-time pricing and end-to-end into more markets, including the Philippines. As I mentioned, AI-driven efficiency is going to be a very critical part for us to continue lifting high-quality traffic, reducing our CAC, and just keeping that operating leverage intact. Provider partnerships will continue to be a very, very important structural sort of lever. On top of that, you know we're adding new initiatives. We're launching and we'll be monetizing the Credit Hero Club membership in Hong Kong in partnership with TransUnion. We will have a membership program in Singapore. All of this really deepens our consumer engagement and newer revenue streams. I just speak about the fact that we're also exploring life insurance partnerships in Singapore and Hong Kong. When it comes to the Philippines, we truly want to digitally transform the Philippines market. We believe by doing this, we can really unlock newer growth opportunities, even in credit cards and personal loans, again supported by our provider partnerships there. Finally, we are very selective and thoughtful in the expansion of digital asset partnerships with licensed brokers, and we want to continue doing this in a regulatory-first and capital-lightweight way. That's how we're thinking about going into 2026. All right, perfect. Thank you very much. Thank you. Our next question comes from Stephen Wong with Speaker Capital. Your line is open. May I ask a question? Can you hear me? May I ask a question? Similar to Q1, I've seen that the Q2 revenue has decreased year over year. What initiatives should the company take to restore the revenue to last year's level? Okay. May I take this question? Yeah, go for it, Danny. Okay. Thanks, Steve. Thanks for the question. As I mentioned, Q2 revenue was $18 million, down 13% year over year. That decline reflects the strategic reset we began in the second half of last year to prioritize revenue quality and unit economics. Importantly, on a sequential basis, revenue actually grew more than 20% from Q1 to Q2. That shows that momentum is already returning on this healthier base. The health of the model has also improved. Cost of revenue is down 51%, and insurance and wealth reached 27% of revenue. Our focus now is to layer growth back onto its stronger foundation. Concretely speaking, first, we'll aim to scale higher margin verticals like insurance and wealth, such as auto and travel insurance, by expanding real-time pricing and end-to-end integration in Hong Kong and Singapore. To sustain the free click flow in travel and roll the same pattern into auto as more insurer API goals alike. As for wealth and digital assets, we'll continue a regulatory-first partner-led approach, like our collaboration with OSL in Hong Kong. We target to move insurance and wealth to 28% to 30% of revenue in the second half to support gross profit compounding. Secondly, we'll deepen member engagement, like with Credit Hero Club and TransUnion in Hong Kong, where we provide free credit scores, monitoring, and personalized offers to drive more qualified applications and cross-sell across phones, cards, insurance, and wealth. We'll also focus on AI assist journeys, such as on applying our rewards, approvals, use, intelligence, and AI assist service. We are testing an AI assist WhatsApp, as Rohith has already mentioned, for auto insurance in Singapore to speed quoting and resolution, which we expect to lift conversion. Thirdly, we will leverage on commercial momentum and selective reinvestment, such as fixed-fee and sponsorship programs with banks and insurers, are now material and repeatable. These add high margin dollars alongside transactional commissions. Our cost base gives room to reinvest selectively in growth channels and content while keeping our quality flat and cost of revenue in the low 50s. Thank you. I have a question to follow up. Yeah, go for it. I've seen that the revenue drops, this has been a consistency, but I've also seen that the net loss and the EBITDA have improved year over year. Would you mind clearly illustrating the factors that have contributed to this improvement? Sure, I'll take this question as well. Yeah, go for it. Okay. First, that's a great question. The improvement is really about building a structurally healthier business model, and that is showing clearly in the numbers. Three drivers stand out, I would think. Firstly, mix shift towards higher margin products. Insurance and wealth contributed 27% of revenue in Q2. That is up from 20% a year ago. These verticals are structurally higher margin and more recurring, so every revenue dollar contributes more gross profit than before. Secondly, unit economics and cost discipline. Cost of revenue improved to 51% of revenue from 67% last year, a 16-point gain, driven by tighter reward collaboration, better approval quality, and improved partner terms. Operating costs fell 37% year over year to $20.6 million as we reduced the spend across marketing, technology, and also employee costs. Importantly, AI is now embedded in service, approvals, and reward optimization. That helps us to scale throughout while keeping headcount flat. Thirdly, adjusted EBITDA loss narrowed to $2 million in Q2 from $9.3 million a year ago. Net income this quarter was positive $0.2 million compared to $12.2 million loss. These gains are not one-off. They reflect structural changes that will continue into the second half. Even with lower revenue year over year, the cost structure is leaner, the revenue mix is stronger, and the path to profitability is clear. That is why we remain confident in reaching positive adjusted EBITDA in the later part of 2025. Thank you. Thank you. I'm showing no further questions. I'd like to turn the call back over to Rohith for closing remarks. Thank you all for your time, and thank you all for the questions. We are very happy and pleased to discuss our Q2 results with you. As we mentioned, we are very excited of what's in store for us in the second half as we continue our path to profitability. We look forward to sharing our next Q3 results in the next call. Thank you, everyone. Thank you for your participation. You may now disconnect. Everyone, have a great day.