Sleep Cycle interim report April-June 2023: Increased focus on core business to drive growth
Revenues increased by 11 % in the second quarter and 1 % excluding foreign exchange effects. The growth was driven by price increases of up to 30% for new users in selected markets implemented during 2023, improving blended ARPU by 6 %, offset by a reduction in the number of subscribers of 5 % compared to last year. The number of new subscribers increased in the second quarter compared to last year, which is a reversal of the trend of the prior three quarters that all saw a decline in new subscribers. During the second quarter, an optimisation program was launched to refocus resources to