Good Life Plus reports record revenues in FY24/25, driven by brand partnerships and new products
() , a UK-based subscription service offering daily prize draws and discounts on popular goods and services, issued a trading update for the financial year ended January 31, 2025 (FY24/25).
Good Life Plus expected revenues for the full-year to exceed £3.7m, compared to £1.7m in H1. Monthly recurring revenues (MRR) were at £420m in January 2025, up from £330m in July 2024. Subscriber numbers also continued to rise, reaching over 40,000 at period-end from 37,000 at the half year.
Positive trading continued into the new financial year, with March 2025 expected to be a record month for revenues, set to surpass £500k for the first time in the company's history. Active subscribers continued to rise post-period, most recently recorded at 43,000.
As focused on customer acquisition and product expansion, costs increased during the period, resulting in an expected EBITDA loss of c. £3.5m. Most of the investments were made in marketing activities to support and promote 's subscription product. also launched a new website in January 2025, reporting improved customer engagement and conversion rates.
On the operating side, launched a number of new products, including Instant Wins in February 2025, with expectations for revenue and active player growth, improved margin and a positive cash contribution. Partnership expansion also continued, with new and existing relationships strengthening with brands such as Gambling.com, News UK, Reach, and an undisclosed leading UK mobile network operator.
said more high-profile partnerships were in negotiation, with further announcements expected in the coming months.
Charlie Chadd, CEO, commenting: "We are making strong progress, growing the subscriber base and expanding our reach to new customers through a much wider product portfolio and partnership roster. The team is working extremely hard on several new opportunities throughout the first quarter, which we anticipate will deliver further growth and upside from Q2 onwards. Our recent partnerships and the investments made into technology and customer experience position us very favourably within our market. Our goal remains to scale quickly, whilst maintaining the best customer experience: exciting, entertaining and enriching millions of UK Households via our low-cost subscription and other innovative products."
View from Vox
Good Life Plus continues to report steady growth in subscriber numbers and recurring revenues, with strong momentum into the new financial year. The young company invested heavily in customer acquisition during the period through product development and marketing, as well as technology infrastructure and key hires across senior management.
As expected, at this early stage of growth is still recording EBITDA and operational losses. However, the aforementioned investments have driven rapid subscriber growth, with steadily improving ROI on marketing spend. Customer acquisition costs are also decreasing while customer lifetime value continues to rise.
Overall, the high capex at this stage has materially enhanced 's technology development, content production, and business intelligence, establishing a strong platform on the new website, and allowing rapid scaling of revenue streams in both its B2C and B2B markets into FY25/26. Additionally, the group has continued to sign partnerships with major brands, significantly enhancing exposure while growing its product portfolio.
Having reached the 40,000 subscribers mark, up 90% since December 2023, and building on strong YoY growth over the past two years, has strong momentum into FY25/26. The group's record revenue performance in recent quarters and strong commitment to continued investment in customer acquisition underpin significant further upside.
The global lottery and rewards space sector is currently valued at £261 billion, with continued steady growth projected over the next 7 years. is well-positioned for success within the rapidly expanding market, with its disruptive freemium model enabling low-cost subscriber acquisition while driving recurring revenue predictability, similar to SAAS/B2C models.
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