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ONE CLICK GROUP LIMITED — Capital/Financing Update 2023
Jul 13, 2023
64250_rns_2023-07-13_bb095296-be01-4005-bf56-eb0d0f3bd4a8.pdf
Capital/Financing Update
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ASX / MEDIA RELEASE 14 July 2023
One Click Life Powers Through The 90,000 Registered User Mark as Revenue for CY23[(1)] Already Surpasses Entire CY22
Key Highlights:
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One Click Life continues its rapid business growth surpassing 90,000 registered users on its fast-growing fintech platform
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Significant increase in revenue generation with:
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July revenues already surpassing $1 million[(1)] as at 12 July 2023, in the start of the busy tax period
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Year to date revenue of $1.7m[(1)] now exceeding the entire prior full-year revenue of $1.6m
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Strong start to tax season with new user acquisition over 250% up on the prior comparative period in first 12 days of the financial year
Fast growing life admin technology platform One Click Group Limited (ASX:1CG) (“Company”) is pleased to announce that it’s registered user base has now surpassed 90,000 users, a massive increase of ~12% in the last week alone. This represents a continued and step change in growth for the Company on prior years and is demonstrating the ongoing success in the business model employed by the Company.
Further, and importantly, this is translating to outstanding revenue growth in July with revenue of over $1 million[(1)] between the 1[st] and 12[th] of July 2023, which is more than 300% on the prior comparative period.
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1 Unaudited
One Click Group Limited | ACN 616 062 072 | Suite 5 CPC, 145 Stirling Highway, Nedlands, WA 6009
Revenue growth has been driven by a combination of strong returning customer numbers, strong user growth and an increased suite of products available on the One Click Life platform.
Due to the strong start to July, revenue year to date[(1)] has also exceeded 2022 full year’s revenue, with over 5 months of trading still left in the year to continue to grow revenues on a comparative basis. Importantly, revenue is continuing to grow with the growth in user numbers.
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Registered users have now exceeded 90,000 on the platform, which is growth of over 25,000 new users this calendar year, representing a 38% increase on the 65,000 users registered as at 31 December 2022, and an over 250% increase when compared to the same period last financial year. This growth has been as a result of a consistent and funded marketing campaign leading up to the tax season, with a maturing of multiple digital channels.
Based on the current rate of growth, the Company expects to have over 110,000 registered users on the platform by the end of the year. The continuing growth in user numbers this year continues to demonstrate the growing demand for digital financial services in Australia and specifically the excellent penetration for the One Click Life Platform.
The significant growth in user numbers creates many opportunities for the Company to generate revenue from both its core tax product, and other products available on the One Click Life platform, such as One Click Mortgages. The number of mortgage applications received on One Click Mortgages has continued to increase month-on - month, with revenue generated from this product continuing to grow. An update on this product will be provided to the market shortly.
One Click Life takes complicated financial products and conquers the complexities to create simple financial products capable of being easily consumed via a mobile phone. Financial products made simple.
Managing Director Mark Waller commented “Our focus for the last two weeks has been assisting as many customers as possible with their tax lodgement needs. This has resulted in over 10,000 tax lodgements since 1 July 2023, with over 15% selecting a Next Day Refund, significantly increasing the average revenue per customer.
A substantial amount of work has been put into our marketing strategy and product improvements, which are generating a significant growth in user numbers for the One Click
One Click Group Limited | ACN 616 062 072 | Suite 5 CPC, 145 Stirling Highway, Nedlands, WA 6009
Life platform. Surpassing 90,000 users so quickly this year is a great achievement and we’re expecting to be at over 100,000 users soon, which will be a great milestone for the business.
July revenue[(1)] to date has been over 300% of revenue generated in the same period last year, which is an excellent achievement. Importantly, this is significantly higher than the 250% increase in user growth compared to the prior year. This has been driven by high returning customer numbers and an increase in revenue per lodgement due to our Next Day Refund product.”
To see Managing Director, Mark Waller, discuss this announcement, please follow us on LinkedIn: One Click Group (ASX:1CG) or YouTube: @OneClickGroupASX1CG.
This ASX Announcement has been authorised for release by the Board.
For further information please contact:
One Click Group Limited T: + 61 8 9389 3160 E: [email protected] W: www.oneclickgroup.com.au www.oneclicklife.com.au
About One Click Group
One Click Life is a fast-growing Australian based financial technology platform positioned to disrupt and capitalise on the increasing market demand for online self-directed financial and life admin services.
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The platform’s primary competency and revenue stream at the moment is online tax. The One Click Life platform now contains a lending competency and a number of other products for users, with online wills and private health insurance already available with more new products to come in the future. The One Click Life platform aims to be the one stop shop for everyday Australians who want to manage their financial life admin across, tax, wills, insurance, mortgages, investing and more.
One Click Verify is a digital identity verification platform allowing businesses to digitally identity their customers as part of an onboarding or transaction process.
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One Click Group Limited | ACN 616 062 072 | Suite 5 CPC, 145 Stirling Highway, Nedlands, WA 6009