Overview of One Click Group's activities and key facts

One Click Group Limited (ASX: $1CG) has released its quarterly activities report for the period ended 31 March 2024. The report highlights an 80% increase in cash receipts from the Tax product compared to the prior corresponding quarter, demonstrating wider general growth for the Company. Additionally, the One Click Life Platform saw a growth of over 55,000 registered users, even with reduced marketing spend in the quieter period of the year. The Company remains adequately funded in preparation for the busy Tax lodgement period commencing in July, with an expected further growth in revenue compared to the previous year.

Managing Director's perspective on company's performance and outlook

Managing Director, Mark Waller, emphasized the focus on improving and expanding the product suite available on the One Click Life fintech platform during the March Quarter. He highlighted the company's motivation to simplify customers' financial lives and the significant growth in cash receipts, particularly during the quietest quarter. Waller also noted the continuous growth in registered users on the One Click Life platform and the demand for financial products outside of tax products, validating the business model. The company's efforts to improve the One Click Verify platform and seek distribution opportunities were also emphasized.

Summary of operational highlights and outlook

The operational highlights of the quarter include a substantial increase in cash receipts from the Tax product, continuous growth in registered users on the One Click Life platform, and a focus on improving and expanding the product suites. The company's outlook involves a digital marketing strategy to grow user numbers, pursue revenue growth from existing and new users, and seek distribution opportunities for the One Click Verify digital identity verification platform. The company aims to create an ecosystem of products on the One Click Life platform to enable customers to manage their financial lives in a simple format. With significant user growth in 2023, the platform is poised to build on its achievements and improve further in 2024. The company will continue to invest in improving the existing product ecosystem and user experience on the platform, as well as expanding the products available. Additionally, the focus will remain on the distribution of the One Click Verify platform.