• 15% increase in Customer Receipts vs March 2024 Quarter
• 24% increase in Subscription Revenue vs March 2024 Quarter
• 44% decrease in Staff Costs vs March 2024 Quarter following headcount reduction
• 45% decrease in Advertising and Marketing costs vs March 2024 Quarter

Carly Holdings Limited (ASX:CL8) presented its consolidated cash flow report and business update for the quarter ended 31 March 2025. The company's Carly Car Subscription business continued to deliver on its objectives and achieved growth in active subscribers. Key highlights include a 15% increase in Customer Receipts and 24% increase in Subscription Revenue compared to the March 2024 Quarter. The company also saw a 44% decrease in Staff Costs and 45% decrease in Advertising and Marketing costs versus the prior year quarter, despite the increase in subscribers. The asset-light fleet represented 35% of the total fleet size, up from 34% in the prior quarter, as automotive dealers and manufacturers sought subscription monetization for their vehicles via Carly. During the quarter, Carly reviewed its fleet of owned vehicles and disposed of $495,000 worth of vehicles. The company also announced that shareholder approval was received at the 2024 AGM for the sale of its operating entities to CarBar Holdings Pty Limited, with the binding sale agreement in the process of being finalized and expected to settle on 1 May 2025.

The entity is currently completing a sale of its operating entities to CarBar Holdings Pty Limited which will reduce most of the cash operating expenses. The Directors are closely monitoring cash flows and expect that there is a reasonable basis to be able to continue its objectives.