• Revenue was $52.7m, down $1.2m on the prior corresponding period
• Underlying EBITDA was $6.8m, up $3.4m on the prior corresponding period
• Statutory net loss after tax was $0.7m, an improvement of $11.3m on the prior corresponding period

3P Learning Ltd has announced its results for the half financial year ended 31 December 2024. Revenue was $52.7m, down $1.2m or 2% on the prior corresponding period, mainly due to the transition of Reading Eggs customers from Edmentum in the US schools market. Underlying EBITDA was $6.8m, up $3.4m or 98% on the prior corresponding period, driven by the company's cost management initiatives. Statutory net loss after tax was $0.7m, an improvement of $11.3m on the prior corresponding period. The company's CEO, Jose Palmero, noted that Annual Recurring Revenue was 4% higher than June 2024, which includes the acquisition of LiteracyPlanet that closed on January 3, 2025. The company's B2C business delivered 1% Billings growth despite significant cost of living pressures for parents. The company's Executive Chairman, Matthew Sandblom, stated that FY25 has been a year of transition with the introduction of the 3 Essentials and the company has passed the peak of its large investment in new and existing products. The company expects to see a greater impact from the 3 Essentials in FY26 and is focused on showing continued improvement and better returns for its shareholders.

The company expects its Underlying EBITDA and cash generation to be stronger in the second half of FY25 as it continues to simplify and make its operations more efficient.