Cycliq Group Ltd (ASX: CYQ) reported a strong Q3 FY2025, with receipts from customers reaching $731,000, a 29% increase compared to the same period last year. This growth is attributed to Cycliq’s established market presence and effective marketing strategies. Demand for the Fly12 Sport remained robust despite inventory constraints. The company’s new product offering strategy, featuring three purchasing options, began in March and aims to increase Average Order Value (AOV) by highlighting bundled offerings. Cycliq’s UpRide platform saw significant engagement, with viral videos boosting Instagram views to 4.6 million, an 80% increase year-over-year. This enhanced social media presence has strengthened brand visibility and expanded the company’s paid media audiences.
Cycliq is upgrading its e-commerce platform to Shopify, to improve the mobile shopping experience. The company is also preparing for its annual UpRide birthday and End of Financial Year (EOFY) sales events, which have historically driven strong sales. Cycliq is focused on developing its software capabilities, including a new desktop application, to build a digital ecosystem around its core hardware products.
The company reported a net cash outflow from operations of $677,000 for the quarter, with operational expenses including product and manufacturing costs ($688,000), administration and corporate costs ($186,000), and staff costs ($380,000). Payments to related parties totaled approximately $59,000, covering director services ($54,000) and registered office fees ($5,000). On April 7, 2025, 2,626,395 options expired. Cycliq continues to expand its reach, with products shipped to over 50 countries since its founding in 2012.
