• Underlying EBITDA improved by 7% to -$1.7 million
• New student growth accelerated to +24% compared to prior period
• Variable customer acquisition cost per new student decreased by 7% to a new record low

Cluey Ltd (ASX: CLU) released its Appendix 4C Quarterly Cashflow Report and Quarterly Activities Report for the quarter ending 31 March 2025 (Q3 FY25). The company reported that Underlying EBITDA improved by 7% to -$1.7 million compared to the prior corresponding period (PCP). This was driven by strong cost management, with a 5% increase in customer acquisition spend delivering a 24% increase in new students. However, margin declined from 58.2% in Q3 FY24 to 55.3% in Q3 FY25 due to an increase in customers opting for lower-priced higher-commitment payment plans and a 5% increase in delivery costs. Cash burn improved by 46% to $1.2 million in Q3 FY25 compared to the PCP, reflecting the company's focus on cost management and achieving sustainable revenue growth and profitability. Cash receipts increased by 11% from the previous quarter, while cash payments decreased by 10%, demonstrating positive momentum in the business. New student growth accelerated to 24% compared to the PCP, and revenue growth showed an inflection point, with a 2% increase in March 2025 compared to the PCP. Variable customer acquisition cost per new student decreased by 7% to a new record low of $168, providing the opportunity to continue increasing investment in customer acquisition to drive further growth.

The company did not provide any high-importance, price-sensitive forward-looking financial metrics.

The company remains optimistic about its return to top-line growth and path to profitability, but did not provide any specific forward-looking statements.