Tinybeans Group Ltd. (AU:TNY) has released an update.
Tinybeans Group Ltd., a global consumer subscription platform for families, has reported a significant increase in paid subscription revenue, up 40% to US$2.97 million in FY24, despite a 36% decrease in total revenue due to a slump in advertising sales. The company has a high renewal rate of 89% following a price increase and has raised its cash balance to US$3.39 million after a successful equity raise. Moving forward, Tinybeans is focusing on marketing strategies and partnerships to expand its user base, particularly in the US and Australia, while continuing to optimize costs.
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