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Cycliq Group Ltd ( (AU:CYQ) ) has issued an announcement.
Cycliq Group reported Q2 customer receipts of $1.51 million, down 21% year-on-year amid softer conditions in the cycling sector, but delivered a net operating cash inflow of $659,000 and ended the calendar year with $870,000 in cash. Performance in the quarter was underpinned by a Black Friday campaign generating $1.3 million in gross revenue and a higher average order value, alongside a federal R&D tax refund of $188,264, while the company advanced its strategy to broaden its cycling safety and performance ecosystem through new product development and an expanded partnership with Amy’s Foundation, despite board changes including the resignation of a non-executive director.
The most recent analyst rating on (AU:CYQ) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Cycliq Group Ltd stock, see the AU:CYQ Stock Forecast page.
More about Cycliq Group Ltd
Cycliq Group Ltd is an Australian-based smart safety, action and sport cycling company that designs, manufactures and markets integrated light-and-camera safety systems for cyclists, including its flagship Fly6 and Fly12 devices. With operations in Australia and China, Cycliq sells directly via its website and Amazon and through more than 6,000 retail outlets across the USA, UK, EU and Asia-Pacific, and has shipped over 200,000 products to more than 50 countries since its founding in 2012.
Current Market Cap: A$1.38M
For an in-depth examination of CYQ stock, go to TipRanks’ Overview page.