How many community members are in the team shots 
I see @cookywook featured front (and almost) center
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Severe lack of me, @bee, @Carlo1460, etc 
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Is the third along Jake Wright?
One of those people are sitting next to me rn
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Is the third along Jake Wright?
no but i told him he looks like jake wright
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He should be flattered! 
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Grievance inbound! 
They are two different numbers. £270m is the annual run rate as of June. The reported losses are for the full financial year.
Producing more revenue does tend to increase cost. Presumably they are closer to profitability on this annual run rate, but as they don’t tell us the annual run rate of the losses (unsurprisingly), difficult to know.
I’m guessing they are closer to profitability but haven’t reached it yet (or they’d have announced it). However there’s no certainty they aren’t in the same position, we’d probably have expected them to be closer to profitability this year than last year, but they aren’t.
The increase in revenue will make it a lot easier to raise money though, so that does make the overall outlook look a lot more stable.
I’m aware of that.
I was surprised because I was expecting break even to be reported this time around.
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Seems to be going the other way. This could be deliberate though, they might be spending more on growth being in a stronger position?
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Overall a positive report 
congrats Monzo! 
One slight negative - as a Monzo investor & customer it frustrates me that notification of / or a copy of the report isn’t emailed to us directly. I only saw a mention of this community post as I skimmed through a community update email (which I usually delete as junk). As a company committed to transparancy it seems like a bit of an own goal not communicating publication of the report outside of this community.
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Also interesting that (assuming he’s the highest paid director) TS Anil’s renumeration increased four fold, to 4 mil. Salary increased three fold and the rest was additional share options by the looks of it.
Hopefully all the employees who have contributed to the growth have seen a three times salary increase and additional share options, not just the CEO.
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For better or worse, those days are long gone. By a few years.
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Suspect that reflects the move to Group CEO and he renegoiated?
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Does the ‘group’ hold anything other than the bank he was already CEO of? (genuine question)
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Surely the group holds both Monzo and Monzo USA? He was previously just CEO of Monzo USA.
I think he was CEO of Monzo U.K. and US for most of the last reporting period too though. Actually looking at it, his renumeration on last years report would have been for 10 months or so not 12 so annualised it would be a bit higher (1.2mil). He became CEO may 2020.
It’s still a very significant rise from that to 4 mil though. Some may be agreed share option plans but the salary raise is also very much there.
(yes, I know huge annual increases is how CEO salaries work and it isn’t how non-exec salaries work, I can still hope that isn’t the case though 
)
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Good for him. It isn’t a charity. But now of course he needs to prove he is worth it.
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Might also include costs for relocation from the US etc
It is, indeed, very good for him to gain a 300% salary increase 
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