Ann: Q2 FY24 Business Update, page-30

No one can know from that alone. Active customers is likely just as, if not more important in the short/medium term. Majority of Raiz revenue is still derived from the basic $4.50/month account fee for accounts below 20k. This is the majority of accounts and the fee is same regardless of 1k or 15k account size. Of course FUM growing is very important but the accounts over 20k that are charged .275% of their account size pa are still a lesser portion of revenue.

I think the next 2-3 quarters will be pivotal to Raiz fully turning into profitability, and by extension increasing share price. If they can end the year with 320-325k active customers it should go a long way to increasing revenue. Hopefully with the seven advertising continuing through the afl season we can see this happen. Raiz is definitely moving in the right direction and I am very bullish on it overall. There is still work to do, but the upcoming quarterly numbers hopefully continue to track well.