• Locate2u SaaS product revenue grew 10% year-over-year
• Zoom2u courier platform revenue declined 3% due to lower consumer confidence and margins
• 2u Enterprises revenue increased significantly, offsetting Zoom2u decline
• Operating costs reduced by 3% through cost-saving initiatives

Zoom2u Technologies Limited reported its financial results for the half-year ended 31 December 2024. The company's revenue grew by 10% to $3,192,607, compared to $2,889,565 in the prior corresponding period (pcp). This was primarily driven by a 10% increase in revenue from the Locate2u SaaS product, which reached $1,324,489, and an 11% increase in revenue from the Zoom2u business segment (including the Zoom2u courier platform and 2u Enterprises), which reached $1,868,118. The Zoom2u courier platform experienced a 3% decline in revenue to $1,531,575, which the company attributed to ongoing weakness in consumer confidence and lower margins being achieved for Enterprise customers versus the pcp. This decline was offset by a significant increase in revenue from the 2u Enterprises business (comprising Shred2u and marketing/driver services), which grew to $336,543 from $105,478 in the pcp.The company's EBITDA for the half-year improved to $45,027, compared to a loss of $385,342 in the pcp, representing a $430,369 improvement. This was achieved through a 3% reduction in operating costs (excluding depreciation, amortization and finance costs) to $3,222,044, with reductions in employee benefits and marketing expenses.Finance costs decreased to $274,961 from $804,234 in the pcp, mainly due to the expensing of the PURE royalty in the prior period. Depreciation and amortization expense increased slightly by 1% to $636,475.The company ended the half-year with a cash balance of $1,442,452, down from $2,053,160 as at 30 June 2024, as it continued to invest in product development and growth initiatives.

The company is considering undertaking an equity capital raise in the short to medium term and is also considering investing in Bitcoin in accordance with its newly adopted Treasury Management Policy. The company has also enabled customer payments to be accepted in Bitcoin.