- Tinybeans Group has provided a preliminary update on its first-quarter fiscal year 2022 results.
- The Company stated that it expects its revenue to be approximately US$2.6 million in Q1 FY22, an increase of 46% from Q1 FY21 and indicating a quarterly record.
- Backed by the announcement, the stock traded 1.304% higher on ASX during the intraday session.
Australian-based leading app and web platform Tinybeans Group Limited (ASX:TNY) on Tuesday via an announcement provided a preliminary update on its first-quarter fiscal year 2022 results.
The key points announced in the FY22 results include:
- Revenue in Q1 FY22 is expected to be approximately US$2.6 million, an increase of 46% from Q1 FY21 and indicating a quarterly record.
- Subscription revenue is also anticipated to reach record levels in Q1 FY22, with growth expected to be over 20% from Q1 FY21.
- The Company is entering Q2 FY22 with over US$2.2M in direct advertising contracts signed, reflecting an increase of 50%+ from Q2 FY21.
- Monthly Active Users are expected to total approximately 4.4 million inQ1 FY22, indicating a 9% increase from Q1 FY21.
Noticeably, Tinybeans’ first-quarter performance includes advertising wins from both new and existing partners, including Microsoft, MGA Entertainment, Hills Pet Nutrition & CooperVision. In addition, the announcement stated that the US$2.6 million revenues that the Company expects this quarter represents significant growth from the same period a year ago and a 10% improvement from the prior quarter.
The Company expects to release full results for Q1-FY22 on or around Oct 26/27, 2021, respectively, in the US and Australia.
Meanwhile, the stock TNY was spotted trading at AU$1.165 per share, up 1.304% at 2:20 PM AEST.
Tinybeans is a leading app and web platform that enables parents to capture their children’s everyday memories and share them privately with families everywhere. Given the present circumstances that do not extensively promote physical gatherings and family get-togethers, the customers of this product are bound to increase.
On the other hand, the strong revenue growth which the Company expects this quarter demonstrates the strength of the Tinybeans’ brand and the value proposition for the Company’s growing base of advertising partners.