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- One Click Group (1CG) releases its financial report overviewing the company’s performance for the half-year ended June 30, 2023
- Increasing users for both 1CG’s products clocked the company $743,417 in 1H CY23 revenues
- Compared to the first six months of June of 2022, it only made $126,919
- Cash on hand in late June 2023 sat at $1.1 million and OpEx was larger at $1.4 million
- One Click Group continues to act as a Gateway Service Provider for Australia’s Department of Home Affairs and retains an ongoing partnership with Viridian Financial
- Shares last closed at 2 cents
One Click Group (1CG) has released its financial report for the company’s performance over the half-year ended June 30, 2023.
The microcap fintech developer and producer has seen a strong start to the year with its flagship online taxation software products retaining new user interest.
The company’s One Click Life product is intended to disrupt the existing online-directed financial admin and life services space.
Its One Click Verify product also allows for anti-fraud usability, and both products clocked the company $743,417 in 1H CY23 revenues.
Compared to the first six months of June 2022, it only made $126,919.
The company’s revenues are now up more than 540 per cent over the last year. However, One Click Group is ultimately recording a $1.5 million loss for the period.
“As a company in its growth phase, the company’s operations are currently loss-making as it deploys capital to marketing and development and seeks to grow its user base and expand its product offering,” it stated.
Still, the numbers show a company with growing users and revenue year on year.
Cash on hand in late June 2023 sat at $1.1 million, and OpEx was larger at $1.4 million.
While user growth in 1H CY23 saw a user base of 65,000 grow to 78,000, the company reported that as of mid-August it has hit in excess of 100,000 users.
The average revenue per user has climbed from $25 per year to $28 per year as of June 30, 2023. Its One Click Life product is multifaceted – it contains the capability for users to handle tax, accelerated tax returns, wills, private health insurance, and mortgages.
One Click Group also intends to begin facilitating lending on the road ahead. The company already offers a Loan Pack software capability that allows users to compile tax documents needed to obtain financing.
One Click Group continues to act as a Gateway Service Provider for Australia’s Department of Home Affairs and maintains an ongoing partnership with Viridian Financial.
1CG shares last closed at 2 cents.
