Jayride Group Limited (ASX: JAY), the world's leading online travel marketplace for airport transfers, has released its Q4 FY23 Market Update, highlighting exceptional growth throughout the fiscal year. In Q4 FY23, the company witnessed a remarkable 46% increase in passenger trips booked, reaching a record-breaking 199,100 trips. Net revenue also experienced substantial growth, reaching a record AU$1.55 million, representing a 42% surge compared to Q4 FY22.
Notably, net revenue per trip increased to AU$7.77 in Q4 FY23, up from AU$7.57 in the previous quarter. In an impressive achievement, Jayride reached a run rate of 1 million trips booked per year during the final two weeks of June. The company has also made significant strides in expanding its business through recent releases, including a multilingual launch and driver location tracking. Furthermore, Jayride remains on track to launch a new travel agents’ portal in July. With these developments, the company is well-positioned to achieve positive cash flow for FY24.
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