Cluey Ltd (AU:CLU) has released an update.
Cluey Ltd reports significant improvements in its Q4 FY24 financial results, with a 64% increase in underlying EBITDA and a 68% reduction in cash burn compared to the same quarter last year. Despite a strategic reduction in customer acquisition costs and a shift in service composition, which led to lower revenue and student numbers, the company is advancing towards profitability. Additionally, Cluey announces a $4.5 million fully underwritten Entitlement Offer to bolster its balance sheet and support future growth.
For further insights into AU:CLU stock, check out TipRanks’ Stock Analysis page.
