Ann: Q2 FY24 Business Update, page-3

The report says "Minimal churn: AU Active Customers down 1% QOQ"

As usual, a very tricky use of language. A 1% drop in active users is not the churn rate. But putting the two items in the same sentence implies they are the same thing - without actually saying they are. 1% down is the net change in customers. Churn must be much higher, as the 1% drop comes after new members joined. In fact, the better the acquisition rate in this quarter - the worse the churn must have been.

If you want to claim "minimum churn" you should just publish the churn number.

Painting a net fall in members as somehow good news is... well - insert your own judgement here.