• Platform SaaS Annual Recurring Revenue grew 23% YoY to $2.335 million
• Cash receipts from customers increased 24% YoY to $3.908 million
• Net operating cash outflows improved by 34% YoY to $(2.198) million

The financial year ended 31 December 2024 (FY2024) was a period of organisational transformation for OpenLearning, underpinned by a strategic focus on SaaS revenue expansion, AI-powered product innovation, and international market penetration. The Company successfully executed its growth and cost optimisation strategy, delivering consistent improvements in recurring revenue, customer adoption, and operational efficiency, positioning itself for long-term scalability and profitability. Key financial highlights for FY2024 include: Platform SaaS Annual Recurring Revenue (ARR) grew 23% Year-on-Year (YoY) to $2.335 million, cash receipts from customers increased 24% YoY to $3.908 million, and net operating cash outflows improved by 34% YoY to $(2.198) million. OpenLearning continued to build strategic alliances and expand into new geographic markets, with initiatives including higher education expansion in Australia, geographical expansion in Malaysia, Indonesia, India, and the Philippines, and the acquisition of The Uni Guide, an Australian higher education marketplace. The Company demonstrated disciplined cost management, achieving a 34% YoY reduction in net operating cash outflows and a 31% decrease in operating expenses. Looking ahead, OpenLearning is focused on expanding its AI-powered LMS capabilities, deepening market penetration in key geographies, scaling CourseMagic.ai, and strengthening its financial performance with the goal of achieving cash-flow break-even.

OpenLearning is focused on accelerating SaaS revenue, enhancing AI-driven solutions, and achieving cash-flow break-even in the coming financial year.

OpenLearning is expanding across multiple verticals and geographies with a focus on expanding its AI-powered LMS capabilities, establishing go-to-market partnerships, deepening market penetration in key geographies, scaling CourseMagic.ai, and strengthening its financial performance.