Australian educational technology company Cluey (ASX:CLU) has released its financial results for the half-year ended Dec. 31, 2025, highlighting a strategic shift towards enhancing its product ecosystem despite a dip in overall revenue.
Joint CEO Matteo Trinca emphasised the successful development and launch of "Cluey+", a new product designed to improve customer retention, reduce churn, and create a new acquisition channel within the Cluey ecosystem.
Cluey achieved a revenue of $12.8 million, representing a 3% decrease compared to the prior-year period.
Despite this, the company saw a modest improvement in its gross profit margin, which rose to 58.1%, up 0.3% a year earlier.
While the firm is investing heavily in future growth, financial metrics indicate a period of transition.
The underlying EBITDA showed a deficit of $1.5 million, although this represents a 4% improvement (reduction in loss) compared to the prior year.
Operating cash flow was negative at $2.6 million, a 14% improvement.
Customer acquisition metrics showed a contraction, with 15,643 new students joining, a 13% drop compared to the previous year.
Total student sessions fell 9% to 211,000. Additionally, the company reported a 23% increase in the variable cost of acquisition per new student, which rose to $199.