• Completed $4.5M capital raise, improved operating cash outflow by 13% vs PCP
• Maintained strong gross profit margin of 59.0%, progressed Cluey+ product development
• Early signs positive for 2026 academic year, with increased investment driving higher customer enquiries and enrolment growth

Cluey Ltd (ASX: CLU) has released its Appendix 4C Quarterly Cashflow Report and Quarterly Activities Report for the quarter ending 31 December 2025 (Q2 FY26). The company reported a 13% improvement in operating cash outflow versus the prior corresponding period (PCP), maintaining a strong gross profit margin of 59.0%. Cluey also completed a $4.5 million capital raise and made significant progress on developing its new AI-driven Cluey+ products and services, scheduled for release in Q3 FY26. In Q2, Cluey delivered an underlying EBITDA loss of $1.003 million, reflecting seasonal softness at the end of the academic year. The company increased marketing investment by 13% versus PCP, while gross profit margin improved and operating costs reduced. Cluey raised $4.347 million net from a fully-underwritten entitlement offer and delivered a total cash burn of $2.438 million, an 8% improvement compared to the PCP.Looking ahead, Cluey's focus for FY26 is on accelerating product and technology investment in AI learning. The company has made significant progress in developing its new Cluey+ offering, which will expand its products and services to deliver a broader range of personalised education, including structured video lessons, an AI-powered practice environment, and AI-enabled exam preparation. As the 2026 academic year approaches, Cluey is seeing positive early signs, with increased investment in customer acquisition driving higher customer enquiries and student enrolment growth.

Cluey expects to provide a further update on the rollout of Cluey+ and new student enrolments in the H1 FY26 Financial Results Announcement in late February.