With the various movement restriction orders implemented in the respective countries where 8VI Group operates in, the Group continues to adapt to changing consumer habits and operates digitally with the sale and subscription of VI app, as well as its range of online financial educational programmes through VI College.
For VI App, the acquisition and retention rates maintained an overall healthy growth in users and subscribers in the current quarter. The key performance indicators for VI App are as shown in the table below:
|Total User Growth Rate||6%||108%|
|Subscriber Growth Rate||3%||44%|
Table 1. VI App performance metrics for period ended June 2021
CMGR – Compounded Monthly Growth Rate, LTM – Last Twelve Months
For VI College, total number of graduates for the quarter stands at 6,617, representing a slight year-on-year decrease of 5.1% as compared to 6,975 in the previous corresponding quarter (Q1 FY2021).
During the quarter, VI College also held its first Investopia virtual event on 19th June and was attended by 1,538 participants from the investing community across the Asia-Pacific region.
The results are in line with the Company’s expedited digital transformation strategy across the region with an extended period of recovery expected yet from the COVID-19 pandemic.
Revenue (unaudited) stands at S$7.6 million in first quarter FY2022, up 36.6% as compared to S$5.6 million in first quarter FY2021.
Cash receipts from customers for the June 2021 quarter was recorded at S$8.9 million, up 25.6% as compared to S$7.1 million in first quarter FY2021 (Q1 FY2021).
Table 2 Cash Receipts from Customers
Liquid assets which include cash and cash equivalents and investment in securities as at 30 June 2021 stands at S$26.2 million, 18% increase as compared to S$22.2 million from end of the previous quarter (Q4 FY2021).
Table 3 Cash & Stock Balance Over Time
Cash flows from operating activities for the June 2021 quarter was recorded at S$3.1 million, down 19.7% as compared to cash inflows from operating activities of S$3.8 million in first quarter FY2021 (Q1 FY2021). The reduction in operating cash flows is attributable to bonus payments to employees pertaining to the previous financial year’s performance.
The Company has invested S$4.0 million in financial assets, at FVPL during the June 2021 quarter.
Free cash flows for the June 2021 quarter stood at S$2.8 million, down 26.8% as compared to free cash flows of S$3.8 million in first quarter FY2021. Apart from the abovementioned bonus payment, the Company has invested heavily in expansion investment, namely purchase of studio equipment, securing new office/studio premises, secondary listing expenditures and midterm marketing productions.
The Board and Management maintain cautious optimism on the performance of the Group and will continue to respond to the changing conditions in ensuring that 8VI remain well positioned to navigate the extraordinary circumstances and global environment.
About 8VI Holdings Ltd
8VI Holdings Limited (“8VI”) is a Singapore-based FinEduTech company operating under the brand name VI.
Established in 2008, VI is the representation of our beliefs and roots in Value Investing and empowers the average man-on-the-street to achieve sustainable wealth as part of their mission to make investments smarter, faster and easier.
VI App, a proprietary stock analysis tool developed through 8Bit Global Pte Ltd (“8Bit”), crunches traditional financial data and simplifies the complex stock analysis and decision-making process for equity investors into easy-to-use visuals under a comprehensive framework. As a licensed Financial Adviser approved by the Monetary Authority of Singapore, 8Bit provides financial advice concerning securities and units in collective investment scheme through research analyses and research reports, through VI App.
With numerous offices across the Asia Pacific region, VI College supports a community of graduates and value investors from 29 cities globally through its flagship “VI Bootcamp” and other programmes. As the region’s leading FinEduTech provider, VI College leverages the power of technology and transforms the perception and application of value investing.