Tinybeans On Track for Another Record Quarter
NEW YORK, Dec. 16, 2021 (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, is pleased to announce Q2-FY22 is on track for another record performance.
Parenting is the hardest thing most people will do in their lives, and next to their house, it may be the single largest expense for most adults (US$233K is spent per child until 17)1. Multiplied by the number of parents in the U.S. with children under 17, makes a Total Addressable Market of US$1 Trillion (excluding tertiary education). Tinybeans is a brand already trusted by 28 million parents as evidenced by the number of parents accessing our brand directly, and through all our social channels. This in turn drives both growth and commercial outcomes, as TNY acquires more of this market.
Recent Performance Highlights
- Record sales in the recent months with a positive outlook for December. Revenue in Q2-FY22 is expected to be over US$3.5M, an increase of 53% on Q2-FY21
- Advertising revenue on track to be a record of over US$3M, up 57% on Q2-FY21, driven by the new single integrated brand proposition, growing the number of top tier brand partners and larger average campaign sizes with YouTube Kids leading the way as the exclusive relaunch sponsor
- Monthly Recurring Revenues from Subscriptions are on track to double to over US$140k, compared to $72k in Sept-21
- Total Paid subscribers now over 42,000 with trial to paid conversion at over 80% (8X the industry average2)
- Tinybeans continues to grow its consumer revenues through Lifetime value (LTV), which is currently over $US170 and striving to acquire and convert millions of parents to paying subscribers
Tinybeans’ Chief Executive Officer, Eddie Geller, said:
“After a successful first quarter of FY22, we are absolutely thrilled to have such a strong follow up by delivering another record revenue quarter. The current quarter has had significant change including a new website launch, and the introduction of the Beanstalk subscription product. The value proposition for parents remains high and significant effort continues to refine and optimize the newly released products to ensure they are delivering successfully for all our customers.
The Company is forging ahead in executing its strategy to build an award-winning platform where parents go to raise amazing kids, driving multiple complementary revenue streams. This is a testament to the team and the value proposition to parents and brands. This significant revenue growth and early indications of conversion to our paid subscriber model has set us up for an exciting 2022, especially given the exciting product roadmap ahead.”
The announcement was approved for release by the TNY CEO.
For more information, please contact:
| Eddie Geller (CEO) Chris Motsay (CFO) |
About Tinybeans Group
Tinybeans Group Limited (ASX: TNY, OTCQB: 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 3rd 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.
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