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Quarterlies: There are now 3.2m people using Tinybeans as it approaches breakeven
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There are now 3.2 million people across more than 200 countries using Tinybeans (ASX:TNY) to share their children’s memories, the company says, as it predicted it would reach cash flow breakeven by Christmas.
Tinybeans describes itself as the ‘modern family album app’ and this week soared to year-long heights when it announced a tie-up with iconic child’s plaything Lego.
- Scroll down for the ASX’s other quarterly movements today >>>
The company this morning released its results for the March quarter, which had green lights across the board: revenue of $992k, cash receipts of $1.1m, 1.1m active users and growth across its three revenue streams — advertising, subscription and printing.
Printing revenue jumped 242 per cent to $42k and advertising revenue shot up 187 per cent to $763k, leading to an overall 143 per cent growth in revenue year-on-year.
It also reported cash burn of $557k, nearly half of the previous quarter, and affirmed that it would be cash flow positive by the end of the calendar year.
Company chief Eddie Geller said his company had outdone itself in what is traditionally a soft quarter for the advertising industry.
“This growth over the prior corresponding period highlights the unparalleled appeal of our value proposition to advertising partners seeking to engage with young families in a trusted platform,” he said.
“The feedback from the brands committing to the platform is tremendously positive and longer term deals are also forthcoming, reinforcing the value we’re delivering.”
In other ASX quarterly news today:
The hits keep coming for Audinate (ASX:AD8). The professional audio company had another good quarter, with customer receipts rising 40 per cent to $6.3 million, although investors weren’t overly happy: shares closed yesterday at $6.35 and have fluctuated between $6.46 and $5.87 today.
Employee screening driving growth for CV Check (ASX:CV1). It not be the most exciting business, but screening and verification is paying off for CV Check, which reported cash receipts of $3.1 million for the quarter and positive operating cash flow. But shares fell 7 per cent to 9.8c.
Mint Payments (ASX:MNW) also had a jolly quarter. Revenue in the March quarter was $1.9m, up 193 per cent year-on-year, thanks to increased hardware sales and recurring transaction revenue. It has $4.6m in the bank and only expects to spent half a million next quarter.
