NEW YORK, April 29, 2022 (GLOBE NEWSWIRE) -- Tinybeans Group Limited (ASX: TNY) (OTCQB: TNYYF) (“Tinybeans” or “the Company”), the only personalized platform trusted by parents to help them raise amazing kids, released today its Q3-FY22 Quarterly Activity Report and 4C Cashflow statement.
Performance Highlights
- Tinybeans delivered another strong performance in Q3, generating overall revenue of US$1.85M, up 40% on the same period 12 months prior (pcp)
- Advertising revenue of US$1.31M, up 37% pcp, with 30% from new brands and 70% from existing brands
- Subscription revenue of US$460K, up 110% pcp, with the number of paid subscribers up to 48k. Monthly Recurring Revenues (MRR) grew to US$160k
- Monthly Active Users (MAU) across Q3-FY22 settled on 2.6M for the qtr, down from 4.2M 12 months prior.
- Tinybeans intends on becoming cash flow positive. The Company expects to maintain a positive cash balance without raising further capital
- Plans for a Nasdaq uplist have been paused for now. The Company still intends to dual list on Nasdaq, however the timing will be delayed.
Tinybeans’ Chief Executive Officer, Eddie Geller, said:
“We are pleased to report that Tinybeans delivered another strong performance in Q3, generating overall revenue of US$1.85M, up 40% on the same period 12 months prior (pcp). While this quarter tends to be slower due to seasonality as advertising budgets reset in the U.S., the significant growth across both advertising and consumer segments is very positive and encouraging.
The result includes US$1.31M in advertising revenues up 37% on pcp, and growth in Beanstalk, our paid subscription product, to US$160k in Monthly Recurring Revenues (MRR). The quarter finished with over 48k paying subscribers, which is slower growth relative to Q2, but not unexpected given the need to prepare the product for paid channel investment.
Tinybeans has been on a tear over the last two years--investing aggressively and growing revenues rapidly. As the U.S economy shows signs of stress, we will take a more cautious approach to our financial strategies as we move toward the new fiscal year ahead.
We will delay our uplist to the Nasdaq, and shift our priorities to strengthening our foundations, slowing our investments and aiming for cash flow positive. Based on this adjusted strategy, we have pushed out our goal of getting to a 50/50 revenue split between Advertising and Consumer by 2026.
Advertising: We will continue to deliver double digit revenue growth in advertising however we expect a slower rate of growth. We will also continue to make strategic decisions to pull back on programmatic ad revenue to support growth in our subscription product.
Subscriptions: We will employ a new customer centric product strategy aimed at restoring 5 star app ratings and rebuilding organic growth for the audience on the web, amongst other key growth drivers.
While consumer trust continues to erode across many sources of information, inspiration and connection, Tinybeans has never been more relevant than today as we continue to place our stake in the ground as a trusted member of the family, which parents can count on for relevant content, safe connections and private photo sharing to help parents raise amazing kids.”
Tinybeans Q3 Earnings Presentation here
For more information, please contact:
Hugh Morgan – Director, Market Eye
P: +61 407 453 109
E: hugh.morgan@marketeye.com.au or investors@tinybeans.com
About Tinybeans Group
Tinybeans Group Limited (ASX:TNY, OTCQB:TNYYF) is the only high trust app and web platform offering a personalized experience for new and growing families that helps them achieve their #1 goal in life–to raise amazing kids. Our purpose is bigger than simply making parenting easier. We help families thrive by giving them a safe, useful and inspirational place to go to capture and share memories, engage with trustworthy content and find thoughtful recommendations tailored to their family’s needs, interests and where they live.
Tinybeans engages 28 million mindful parents every month, enjoys over 130,000 5-star reviews in the Apple App and Google Play stores, and has been recognized by Apple for excellence in both content–top 3 most viewed and exclusive parenting partner for Apple Guides, and utility–twice being named U.S. app of the day.
www.tinybeans.com
