• Improvement in Underlying EBITDA, operating cashflow, and New Students Growth
• Significant reduction in variable customer acquisition costs (CAC)
• Focus on achieving free cash flow generation in FY25 through cost discipline and top-line growth

Cluey Ltd (ASX: CLU) has released its Appendix 4C Quarterly Cashflow Report and Quarterly Activities Report for the quarter ending 31 December 2024 (Q2 FY25). The company reported a 28% improvement in Underlying EBITDA to -$1.0 million, a 14% improvement in operating cashflow to -$2.5 million, and a 2% increase in New Students compared to the prior corresponding period. This reflects the company's focus on cost discipline and a return to top-line growth. Variable customer acquisition costs (CAC) per New Student decreased by 21% to $185. The company remains focused on achieving free cash flow generation in FY25 through continued cost management and delivering sustainable revenue growth. The Q3 FY25 period is the seasonal peak for online tutoring and after-school programs, and the company is well-positioned to capitalize on the increased market demand. Cluey's operating cost base is now at the lowest level in four years, and the company is experiencing improvements in student metrics as the new academic year begins.

The company remains focused on achieving its pathway to profitability with its existing cash resources. Cluey is well positioned to take advantage of the increased demand in the market following the resumption of school in late January and early February 2025, with significantly optimized customer acquisition costs and a lower operating cost base.