Record revenue and user growth in 2023 for One Click Life

Key Highlights:

• Record Revenue achieved in 2023 of $3.9m, up a significant 144% from $1.6m in 2022 
• User acquisition continued to be strong during the year  with over 120,000 users now registered on the One Click Life Platform at the end of the Dec 23 (up 85% from Dec 22)
• Average Revenue per user continues to grow reaching $32(1) in 2023, up from $25 in 2022 
• Expanded product suite now includes capability to broker mortgages, personal loans and car loans
• Successfully introduced Next Day Refund Tax product in 2023 providing over 3,000 next day refunds and at increased price point 
• Launched and commenced commercialising One Click Verify digital identity verification platform demonstrating growth in this product vertical 
• The Company is confident of continued growth in revenue and users in FY24

The key focus of 2023 was increasing the registered user numbers on the One Click Life platform and generating growing revenue from both existing and new users through the completion of an online tax return. During this time the Company was also able to focus on expanding the product suite for users and commence building out annuity revenue streams through additional products offered on the One Click Life platform and the One Click Verify platform.  This has seen a significant increase in revenue to a record $3.9m in 2023 ($1.6m 2022). 

Managing Director Mark Waller commented "2023 was an outstanding year of growth for One Click Group. 144% growth to $3.9m revenue combined with over 120,000 users on the One Click Life platform puts the company in an excellent position to continue to expand into 2024. 

2024 will be a pivotal year for the company as new marketing spend continues to grow our registered user base and creates new revenue to add to our existing revenue base. We also intend to continue to expand the product suite available on both the One Click Life and One Click Verify platforms creating additional revenue opportunities from new and existing customers."

The growth in revenue is a reflection of the successful business model the Company employs for it's One Click Life platform. The aim is to further grow revenues to achieve profitability this year, and to ensure a sustainable growth profile in the years ahead. 

In 2023 we saw revenue greater than the operating expenses to run the business which is an important inflection point. Operating expenses for 2023 totaled $3.4m, creating a $0.5m operating margin before marketing expenses for the year. 

Marketing expenses for 2023 totaled $2.3m. Importantly with the marketing efforts we were able to grow revenue by $2.3m when compared to full year 2022 revenue of $1.6m. Marketing efforts and spend in FY24 will benefit the generation of new revenue in FY24 and beyond. 

The resultant EBITDA loss was $1.9m in 2023. 

The financial summary above validates the business model to increase revenue via marketing spend while maintaining a lower growth in operating expenditure each year. 

The One Click Life dashboard contains a combination of free products like tax calculators, HECS calculators and tax estimates as well as financial services products such as tax return lodgments, online Wills, and lending products. 

About One Click Group

One Click Life is a fast-growing Australian based financial technology platform positioned to disrupt and capitalise on the increasing market demand for online self-directed digital financial and life admin services. 

The platform's primary competency and revenue stream is online tax. The One Click Life platform also contains a lending competency and a number of other products for users, with online wills and private health insurance already available with more new products to come in the future. One Click Life aims to be a platform where Australian's can manage all their financial lives in a simple, low-cost, mobile first format. 

One Click Verify is a digital identity verification platform allowing businesses to digitally identity their customers as part of an onboarding or transaction process.