Tinybeans Q3 FY24 Quarterly Activities Report

Tinybeans Group Limited (ASX: $TNY) provided an update on its Q3 FY24 business activities, reporting a record quarterly subscription revenue of US$0.77m, a 50% increase from the previous year. The Company also successfully launched a fully underwritten A$5.0m equity raising to support its growth strategy. The CEO, Zsofi Paterson, expressed delight in the capital secured, enabling the Company to focus on growth and execute its clear strategy and ambitious goals.

Executive Commentary on Q3 FY24 Performance

Over Q3, we have strengthened the Tinybeans brand, launched a refreshed website, improved the core Tinybeans product experience and commenced strategic partnership discussions. With capital secured, I am delighted that we can turn our focus to growth. My team and I have a clear strategy, ambitious goals and have demonstrated our ability to execute to plan. The capital raised will enable us to add much needed capabilities to the team across Product, Data & Analytics and Marketing to build off good existing foundations, continue our transformation, and begin to execute a US and Australia focussed growth strategy over FY25 and beyond.

Summary of Q3 FY24 Report and Outlook

In Q3 FY24, Tinybeans achieved a 50% increase in quarterly subscription revenue, reaching US$0.77m, and secured a successful A$5.0m equity raising. The Company aims to focus on growth, add capabilities to the team, and execute a US and Australia focussed growth strategy over FY25 and beyond. With strong subscriber engagement rates and a blended renewal rate of 84% across monthly and annual Tinybeans+ subscribers, Tinybeans is poised to drive subscriber growth in the upcoming quarters. The Company also aims to strengthen its advertising sales revenue, improve cost and cash management, and continue building momentum through brand awareness and strategic partnerships.