Raiz Invest (ASX: $RZI) 1H24 Financial Report Overview

Raiz Invest Limited (ASX: $RZI) has released its half-year financial report for the period ending 31 December 2023. The Group reported a 14.7% increase in revenue for the first half of the financial year 2024, reaching $10,653,000. The loss attributable to the owners of the parent entity decreased to $1,451,000, compared to a $4,151,000 loss in the previous corresponding period. The Group's net tangible assets per share and strategic focus are key highlights of the report.

Executive Commentary on Financial Performance and Strategic Focus

The Group's revenue growth and improved financial performance in the first half of the financial year 2024 reflect our continued efforts to provide innovative financial services and products through our mobile-first micro-investing platform. We are pleased with the 14.7% increase in revenue, driven by a 21.9% growth in revenue from the Raiz Invest Micro-Investing Platform segment. Our strategic focus remains on increasing the 'Lifetime Value of Customers' through new products and services, accelerating revenue growth, and expanding our operations into Southeast Asia. We are committed to developing and distributing new financial services and products to meet the evolving needs of our customer base. The Group's ability to return to positive net cash from operating activities in the first quarter and achieve a 198% growth in the second quarter demonstrates our resilience and operational efficiency.

Summary of Raiz Invest (ASX: $RZI) 1H24 Financial Report

Raiz Invest Limited (ASX: $RZI) reported a 14.7% increase in revenue for the first half of the financial year 2024, reaching $10,653,000. The Group's net tangible assets per share stood at $36,772,000 as at 31 December 2023. Raiz's strategic focus includes increasing the 'Lifetime Value of Customers', accelerating revenue growth, expanding operations into Southeast Asia, and developing new financial services and products. The Group's improved financial performance, positive net cash from operating activities, and strategic initiatives position it for continued growth and value creation in the future.