CLIQ Digital - FY24 outlook weakened

CLIQ Digital has lowered its financial outlook for FY24 due to the transition to new sales channels in H124. This was coupled with elevated churn following a change in refund programmes from credit card providers, flagged in Q124, which allows subscribers to cancel more easily. The transition to the 'Magnificent Seven' sales channels, which aims to diversify CLIQ's marketing channels from traditional display advertising to search engine advertising, affiliation and business-to-business (B2B) partnerships, has meant new customer acquisitions have been slower than previously anticipated. We have cut our FY24 forecasts, which are now towards the lower end of management's guidance. Our reduced FY25 revenue estimate is below company guidance; we will review our forecasts with subsequent trading updates.

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