The operating results for the period are materially consistent with the headline preliminary results released by the Company on
The results are subject to completion of the year end audit and audited results are expected to be released in September.
FY22 Operational Highlights
- Revenue increased to a record
US$10.9m , up 34% pcp - Advertising revenue hit a record
US$9m , up 31% pcp, won 17$100k deals vs 13 in FY21 - Subscription revenue hit a record
US$1.5m , up 77% pcp - At 56% growth in direct advertising revenues, significantly outpaced single digit industry growth rate outside of top 4.
- Successfully retired Red Tricycle and (re)introduced one brand Tinybeans to ad market
- Grew National deal size from
$30k to$51k (+69%) - Monthly Active Users (MAU) across FY22 grew hit 2.95M for the qtr, up 16% on Q3.
- Advertising wins from both new and existing partners, including CooperVision, Hill’s Pet, MGA, Microsoft, VTech, Marriott and
Paramount ; - Cash balance at the end of the fourth fiscal quarter of 2022 was
US$4.2m (AUD$2.85m). - Loss for FY22 to
$4.5m , up 40% vs pcp, from the adjusted FY21 loss of$3.2m . Tinybeans recently reviewed all costs with the goal of becoming cash flow positive. The Company has reduced its General and Administrative costs as it starts FY23.
Tinybeans’ Chief Executive Officer,
“We are pleased to report Tinybeans’ record-level operating performance during FY22. The rebound in COVID-19 impacted industries, such as travel, contributed to these record results, and we were pleased to see momentum build in our subscription revenues throughout the fiscal year with the release of the paid for product Beanstalk.
Tinybeans’ revenue increased a record 34% from the pcp, delivering
These results highlight the appeal of our value proposition to current and prospective advertising partners who seek to engage with the young families on our platform. We also believe the continued strong engagement from our subscribers is a testament to the value of our content and users’ sustained demand for a platform that puts their privacy at the forefront.
We are on our way in FY23 to delivering double digit revenue growth in advertising, however this may be slower due to economic conditions. We will also continue to make strategic decisions to pull back on programmatic ad revenue to support growth in our subscription product.
FY23 promises to be our most successful year yet. We are launching an array of new product upgrades that should support acceleration in our consumer revenues, and we aim to drive continued growth in advertising revenues.
While consumer trust continues to erode across many sources of information, inspiration and connection,
This announcement is authorised by the TNY Board.
Preliminary Report - Appendix 4E here
For more information, please contact:
Chief Executive Officer
E: investors@tinybeans.com
About
www.tinybeans.com
Source:
2022 GlobeNewswire, Inc., source