Raiz Invest Limited (ASX: $RZI) 1H FY24 Financial Results Overview

Raiz Invest Limited (ASX: $RZI) has released its 1H FY24 financial results, reporting a strong start to the year ended 31 December 2023. The company achieved significant milestones including a 22% increase in Raiz Platform revenue, a 17% growth in Australian Funds Under Management (FUM), and a disciplined cost control resulting in a reduced EBITDA loss of $0.5m, down by 85% from the previous corresponding period.

Executive Commentary on 1H FY24 Financial Results

The company's 1H FY24 financial results reflect our commitment to delivering strong revenue growth and maintaining disciplined cost control. We are pleased with the significant improvement in profitability, as evidenced by the reduced EBITDA loss and the positive net cash from operating activities. Our focus on the core Australian business has produced improved metrics, and we are tracking towards positive EBITDA. We remain optimistic about the outlook for the remainder of FY24 and are confident in our ability to continue this positive trajectory.

Summary of 1H FY24 Financial Results and Outlook

Raiz Invest Limited (ASX: $RZI) has reported a strong performance in the 1H FY24, with notable achievements in revenue growth, cost control, and profitability. The company's focus on the core Australian business has resulted in improved metrics, including a 22% increase in Raiz Platform revenue and a 17% growth in Australian Funds Under Management. With a positive outlook for the remainder of FY24, Raiz Invest aims to continue its growth trajectory and maintain its commitment to delivering value to its stakeholders.