Tinybeans Releases Q2-FY22 Activity Report
NEW YORK, Jan. 31, 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 Q2-FY22 Quarterly Activity Report and 4C Cashflow statement.
Performance Highlights
- Record Revenues of US$3.65M, up 59% YoY
- Advertising revenue hit a record US$3.13M, up 64% YoY, with 24% from new brands and 76% from existing brands
- Subscription revenue hit a record US$361K, up 70% YoY, with the number of paid subscribers up 64% to 46k. Monthly Recurring Revenues (MRR) doubled to US$148k
- Lifetime Value (LTV) on a trailing 12-month basis was US$178. Delivering an LTV-CAC multiple of 3.6
- Tinybeans launched an entirely new website and app under a single brand, driving a new, more comprehensive parenting experience. Shortly, we’ll be launching further updates including an upgraded advertising platform for brands. Continuing to grow complementary revenue streams with brand partners and paid subscribers
- Total Active Users across Q2-FY22 declined as expected and previously communicated. Through Q2, monthly active users settled on 3.5M
Tinybeans’ Chief Executive Officer, Eddie Geller, said:
“We are thrilled to report that Tinybeans set a new record in Q2, making it our most successful quarter ever. Relaunching as one brand across app, web and email, we continued to deliver on our strategy to monetize our customer base across both our subscription and advertising sales businesses while expanding how we serve parents.
In Q2, we delivered overall revenue of US$3.65M, an increase of 59% on pcp. This includes US$3.1M in advertising revenues up 64% on pcp, and growth in Beanstalk, our paid subscription product, to US$148k in Monthly Recurring Revenues (MRR).
Beanstalk, our new paid subscription offering, continues to drive forward and grow. The quarter finished with over 46k paying subscribers, nearly 2x the previous quarter. This new paid offering is an important initiative toward accomplishing our long term strategy of a 50/50 advertising/consumer revenue mix.
We launched a powerful new tinybeans.com, sunsetting the Red Tricycle name and increasing the Tinybeans brand footprint 2.5x. Built on the trust and safety that has always been core to who we are, Tinybeans inspires parents to both create memories and share them. The new Tinybeans.com also offers the market-leading capability of delivering content uniquely to each family, tailored to their children’s ages, interests, and where they live. With a combination of utility and personalized content, the new Tinybeans (through its app and website) has taken a significant step toward accomplishing our goal of being the go to resource for all things parenting.
Advertising continues its aggressive growth curve driven by bigger deals with bigger brands and powered by our first party data.
We remain committed to our roadmap, and we are confident in our ability to grow Lifetime Value (LTV) beyond the US$178 that it is today. With an LTV-CAC multiple of 3.6, we can double down on growth to drive revenue acceleration. We expect the quarter ahead, Q3-FY22, to achieve comparable growth rates to pcp across both subscription and advertising.
While consumer trust continues to erode across many sources of information, inspiration and connection, Tinybeans continues 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.”
For more information, please contact:
Hugh Morgan – Director, Market Eye
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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 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.
