Cycliq Group Shares Double Following Launch Of New Bike Camera And Light System

Cycliq Group Ltd’s (ASX: CYQ) share price has doubled today following the release of Fly6 Pro, a sophisticated bike camera and light system.

The Fly6 Pro introduces 5Ghz wi-fi connectivity and features advanced optical dual lens technology which enhances rider visibility.

The higher pixel density of the 4K image sensor on the Fly6 Pro ensures smoother, sharper video capture – with the ability to compress 4K video to the same file size as the 1080p video of its predecessor.

Cycliq Chairman Andrew Chapman said: “These features make the Fly6 Pro an ideal device for on-the-go use, facilitating easy saving and sharing of videos across social media platforms.”

More than 200,000 Cycliq products shipped

Cycliq is an Australian-based smart safety, action, and sports cycling company, manufacturing and marketing all-in-one, light and camera safety systems – the Fly6, Fly6 Pro, and Fly12.

More than 200,000 Cycliq products have been shipped around the world to over 50 countries since the company was founded in 2012.

Q2 results

Cycliq delivered a consistent performance for the quarter that ended 31 December 2023 (Q2) with a gross revenue of A$1.7 million for the period.

The company’s net operating cash flow for the quarter was positive despite the strategic postponement of the upcoming new “Hero” product launch from Q1 to Q3 FY24.

This has allowed for the inclusion of additional features before launch and the sale and inventory reduction of existing product lines during the holiday season.

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