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- One Click Group (ASX:1CG) YoY revenue has doubled in CY23 so far
- The company has hit $3.5 million in revenue as of September versus under $2 million in December 2022
- The company’s One Click Life product is an all-rounder fintech application that helps users manage tax returns
- Shares last traded at 2 cents
One Click Group (ASX:1CG) has announced another record-breaking performance milestone, with the company netting $3.5 million in revenue year to date (YTD) for September.
In CY22, revenue amounted to $1.6 million by the end of December.
The company’s revenues have already surged by 120 per cent compared to CY22, and the user base of its key software product, One Click Life, has grown to 115,000.
One Click reached the 100,000-user mark back in July. Overall, the company is now generating an average revenue of $32 per user.
“We’re still seeing a number of areas that we can continue to accelerate user growth and improve our average revenue per user,” 1CG Managing Director Mark Waller said.
“The increased user numbers combined with the increase in average revenue per user has resulted in significant revenue growth.”
One Click Life enables users to automate their tax returns, which is the most popular product. Another solution allows users to manage their mortgages, also gaining popularity.
User numbers continue to rise, even as Australia faces its share of global economic challenges following the COVID-19 pandemic.
When the company reported reaching 100,000 users in July, it highlighted that its tax product, Next Day Refund, was the primary revenue driver.
Of course, tax time remains a key seasonal force that drives user growth each year.
1CG shares last traded at 2 cents.
