Good Life Plus reports revenue and subscriber surge in FY24/25, proposes AQSE exit

Good Life Plus (GDLF) Follow | GDLF, a UK-based subscription service offering daily prize draws and discounts on popular goods and services, announced its final results for the year ended January 31, 2025 (FY24/25).

Good Life Plus reported £420k in monthly recurring revenues, up from £330k in July 2024, and up 180% year-on-year. The surge in MRR was facilitated by Good Life Plus' scalable subscription-based model and strong demand within the sector. Subscriber growth also contributed, with active users reaching 40,000 by period-end from 37,000 at the half-year. Active subscribers continued to rise post-period, most recently recorded at 43,000.

Total revenue in FY24/25 increased by 63% to £3.8m, driven by the augmented MRR. Net loss widened a bit to £4.2m from £3.9m LY as a result of greater expenditure on customer acquisition, technology, and team expansion to support the young company's aggressive growth trajectory.

Good Life Plus successfully raised £4.2m in FY24/25 through placings, subscriptions, and CLNs, enabling higher investment in marketing, partnerships, and platform development. Costs were kept in check thanks to improvements in operational efficiency, such as reductions in churn and improvements in average revenue per user (ARPU). Additionally, investments in team and technology and customer acquisition supported steady growth in premium subscriptions, driving higher spend per subscriber.

The group also maintained focus on brand and marketing, now reaching over 1.1m email subscribers with more than 400k social media followers, enhancing visibility and engagement.

Separately, Good Life Plus proposed a withdrawal of its shares from AQSE and continuing as a private company to facilitate growth. The rationale given was limited liquidity and high costs on AQSE, an undervalued market cap relative to underlying performance, and that the company did not rely on the market for access to capital.

Good Life Plus said investors were increasingly interested in supporting the company as a private entity, therefore the board would seek shareholder approval for delisting from AQSE at the next AGM on July 30, 2025.

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Good Life Plus reports strong topline growth, a surge in monthly recurring revenues, and steady subscriber growth for FY24/25, with positive momentum continuing into FY25/26. Monthly recurring revenues surged 180% year-on-year to £420k, continuing to rise to £500k+ in Q1. The young company invested heavily in customer acquisition through product development and marketing, as well as technology infrastructure and key hires across senior management.

As expected, at this early stage of growth GDLF 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. Having reached the 40,000 subscribers mark at period-end, up 90% since December 2023, and continuing post-period to over 43,000, GDLF has strong sales momentum into FY25/26.

Overall, the high capex at this stage has materially enhanced GDLF's technology development, content production, and business intelligence, establishing a strong platform on the newly updated website and enabling rapid scaling of revenue streams in both its B2C and B2B markets into FY25/26. 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.

Good Life Plus successfully completed multiple fundraising rounds in FY24/25, collectively worth £4.2m and underscoring strong investor confidence. The proceeds have been used to accelerate the company's next phase of growth, focusing on customer acquisition, brand and media partnerships, and platform development. Capital injections alongside rising revenues and improving operational efficiency have supported the growth of GDLF's subscription product, with expected continued improvements in conversion, retention and average revenue per user.

The global lottery and rewards space sector is currently valued at £261 billion, with continued steady growth projected over the next 7 years. GDLF 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. We expect further progress in FY25/26 in MRR and subscriber numbers, as well as the delivery of positive cashflow and international expansion.

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