One Click Group Year to Date Revenue Already Surpass $3 million
Announcement posted by One Click Life 24 Jul 2024
Fast growing financial life admin technology platform One Click Group Limited (ASX:1CG) ("Company") is pleased to report that there has been a significant increase in demand for Tax lodgements through the One Click Life Tax Product in July so far and in comparison to the prior year. As at the 22nd of July 2024 the Company has recorded $2m of revenue from tax lodgements which sees calendar year to date revenue reach $3.1m. This outstanding growth represents a circa 40% increase in revenue to the $2.2 million achieved at the same point in 2023 and shows clear traction with existing and new users on the One Click Life platform.
Key Highlights:
- One Click Group continues to demonstrate significant revenue growth in its core business offering of One Click Tax
- Revenue recorded from tax lodgements in the month of July (as at 22 July) has hit $2m(1), which takes the total revenue for CY24 to date to $3.1m([1])
- The revenue earned to date represents a significant 40% increase on the previous year, with revenue of $2.2m achieved at the same point in 2023
- The busy tax lodgement period is expected to continue through October and the Company is expecting further revenue and user growth during this period
- One Click Life has over 150,000 registered users on its fast-growing fintech platform and growing
The One Click Life registered user base has also recently surpassed 150,000 users, a massive increase of 57% on the same time last year. 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.
The busy tax lodgement period continues through October and the Company remains confident of continued growth through that period which would deliver substantial year on year revenue growth.
One Click Life creates simple financial services and products to allow everyday Aussies to manage their own financial lives. These simple financial services and products are easily consumed via a mobile phone. Your financial life made simple.
Managing Director Mark Waller commented "It's great to see revenue tracking to the growth in registered users we've seen on the One Click Life platform this year.
We're at the start of the main revenue generating period for the One Click Life platform. To have achieved over $3 million revenue year to date already is demonstrating the success of the business model as we scale up, and we expect to deliver significant revenue growth on the prior period.
In short, our strategy and our fintech platform is working. If we continue to grow at this rate, we have the potential to be a major profitable business in the near term given the scalability of the business model."
For further information please contact:
One Click Group Limited
T: + 61 8 9389 3160
E: mark@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.
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.
[1] Unaudited