Cycliq Unveils New Shopify Platform Amid 35% Revenue Dip Ahead of Cyber November
Cycliq Group has completed a major e-commerce platform upgrade while preparing inventory for the critical Cyber November sales, reporting a 35% drop in quarterly customer receipts as it invests in future growth.
- 35% decrease in Q1 customer receipts to $0.78 million
- Successful launch of three localized Shopify stores
- Introduction of CycliqPlus Garmin Edge integration
- Strategic inventory deposits secured for peak Cyber November sales
- Non-Executive Director Andrew Cotterill resigns post-quarter
A Transitional Quarter Focused on Infrastructure
Cycliq Group Ltd (ASX – CYQ), the Australian smart cycling safety company, has reported a transitional first quarter for fiscal 2026, marked by a strategic pivot towards modernizing its e-commerce infrastructure and gearing up for the all-important Cyber November sales period. Customer receipts for the quarter ended 30 September 2025 fell 35% year-on-year to $0.78 million, reflecting a deliberate shift of operational resources away from immediate sales towards platform deployment and inventory positioning.
Shopify Migration and Market Localization
Central to Cycliq’s transformation was the successful launch in August 2025 of a new Shopify-based e-commerce platform, replacing a legacy system dating back to 2017/18. The new platform features three distinct stores tailored to the US/global, Australian, and UK markets respectively. This multi-store architecture allows Cycliq to deliver localized content, region-specific payment options, and seasonally targeted marketing campaigns, enhancing the customer experience and mobile functionality across all regions.
Product Innovation and Strategic Inventory Moves
In addition to the platform upgrade, Cycliq introduced its CycliqPlus Garmin Edge integration in September, enabling seamless connectivity between its cameras and Garmin cycling computers. This integration aims to deepen user engagement by combining safety and performance tracking technologies. Meanwhile, the company secured advance inventory deposits for key products ahead of the Cyber November sales rush, ensuring production and delivery capabilities align with anticipated peak demand.
Corporate Changes and Financial Overview
Post-quarter, Cycliq announced the resignation of Non-Executive Director Andrew Cotterill, who stepped down to focus on other business interests. Financially, the company reported a net cash outflow from operations of $341,000 for the quarter, with expenses primarily driven by product manufacturing, administration, and staff costs. Payments to related parties, including director fees, amounted to approximately $51,000.
Looking Ahead to Peak Season Execution
With the platform transition complete and inventory commitments secured, Cycliq is positioned to shift its focus from infrastructure implementation to execution and optimisation during the critical Cyber November trading period. The coming months will be pivotal in assessing how the new e-commerce capabilities translate into sales recovery and growth, as well as how the company leverages its enhanced product integrations to capture market share.
Bottom Line?
Cycliq’s strategic investments set the stage for a crucial sales season, but the market will be watching closely to see if these changes translate into a rebound.
Questions in the middle?
- Will the new Shopify platform drive a meaningful recovery in sales post-Cyber November?
- How will the CycliqPlus Garmin Edge integration impact customer retention and product appeal?
- What are the implications of the Non-Executive Director’s resignation for corporate governance?
