NEW YORK, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Tinybeans Group Limited (ASX: TNY) (OTCQX: TNYYF) (“Tinybeans” or “the Company”), an inclusive, informative, go-to resource for all things parenting, released today its Q1-FY22 Quarterly Activity Report and 4C Cashflow statement for the quarter ended September 30, 2021.
The full Q1-FY22 quarterly activity report and Appendix 4C quarterly cash flow report can be found at the Company’s investor relations website here.
Q1-FY22 Financial Highlights:
Revenue increased 42% YoY to a record US$2.54M
Advertising revenue increased 49% YoY to a record US$2.26M
Subscription revenue increased 13% YoY to US$225K
Over US$1M invested through Q1 in product growth initiatives, all culminating into new Beanstalk and impending new web site/app launches in Q2
Q1-FY22 Operational Highlights:
Monthly Active Users increased 9% YoY to 4.4 million
Launched new paid subscription offering, Beanstalk, with an early download to paid conversion rate of 14%
Closed 7 >$100K advertising contracts
Tinybeans’ Chief Executive Officer, Eddie Geller, said:
“We are delighted to report a solid start to the new fiscal year with another record revenue performance. In Q1-FY22, we delivered overall revenue of US$2.54M, which is an increase of 42% on pcp. This includes US$2.26M in advertising revenues, which is up 49% pcp. Delivering these strong results despite the seasonal weakness that typically characterizes Q1 is a testament to the tireless work of our team and our continued progress on our growth strategy.
“During the first quarter, we also launched Beanstalk, our new paid subscription offering, and the early results are very positive, with download to paid conversion at 14%. The Beanstalk offering is a strategic decision to align all our members on a single paid subscription that provides superior value and full access to our expanding and evolving suite of parenting resources.
“We are confident in our ability to not only drive subscription growth from within our existing audiences, but also acquire new subscribers at attractive returns through new paid channels, something that our past offering didn’t permit. Importantly, as the rollout of Beanstalk matures, our complementary advertising business has continued to grow, with more brands committing to the platform and signing longer term deals as we continue to enhance both the advertising and overall user experience on our platform.
“Just last week, we continued to progress our platform enhancements through launching our new website experience, tinybeans.com, which unites our legacy website and Red Tricycle content site under the Tinybeans brand. I’m proud of the team’s work to produce an incredible site that brings together the very best of our memories and content experiences all under a single brand.
“Q2-FY22 is currently on track to be another record quarter. We already have over USD$2.5M in direct advertising contracts signed, and we are working diligently to advance the rollout of Beanstalk and continue growing subscription revenues. We have made exceptional progress on our objectives to date, and we remain focused on further positioning Tinybeans as the go-to resource for all things parenting.”
Tinybeans management will present a business update on an investor conference call today at 6:00pm U.S. EST (October 28th)/9:00am AEST (October 29th). Attendees are required to register beforehand.
After registering, attendees will receive a confirmation email containing information about joining the webinar.
Australia: +61 2 8015 6011
United States: +1 929 436 2866
Webinar ID: 850 5349 9605
For more information, please contact:
About Tinybeans Group
Tinybeans Group Limited (ASX:TNY, OTCQX:TNYYF) is a leading app and web platform enabling parents to capture their children's everyday memories and share them privately with families everywhere. The platform provides rich recommendations that spark everyday family inspiration for what to do, what to buy, and which services to use for their children's needs.
Being twice named Apple’s App of the Day in the U.S. puts Tinybeans in the elite company of the best apps in the world! Plus, Tinybeans became Apple’s #1 content partner and exclusive parenting partner for one of their newest products, Apple Guides. With over 80+ partners and 1,000+ Guides on the platform, Tinybeans is the 5th most read on the platform (total views of Guides content).
Tinybeans serves a deeply engaged user base in over 100 countries/territories and enjoys over 130,000 5-star reviews in the Apple App Store and the Google Play stores.