BikeExchange Ltd (AU:BEX) has released an update.
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BikeExchange Ltd reported significant financial improvements in its Q3 FY24 report, with a 20% increase in revenue from continuing operations and a 54% improvement in EBITDA. The company also saw a 24% growth in gross margin and a 19% reduction in operating expenses, attributing these successes to their new AI Consumer Platform and strategic focus on profitable growth through technology. Net cash used in operating activities decreased by 40%, signaling stronger financial health and operational efficiency.
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