Bikeexchange Ltd (ASX:BEX) starts 2024 with a clear intention to drive business to profitability.

The company expects to have a significantly reduced level of committed operating cash outflows in Q1 FY24.

In the quarter, Bikeexchange reported a 6% increase in ecommerce total transaction value versus Q4 2022 to AUD 8.0 million.

The anticipated increase in revenues from the launch of the new consumer front end will support the business well into FY24.

Bikeexchange has exited its retail business operations in Colombia.

The new consumer platform is expected to generate returns as the platform is launched during Q1 and Q2 FY24, positioning the group well on the path to profitability.