PaySauce Quarterly Market Update - Jun 2023

Employment solutions fintech PaySauce (NZX: PYS ) announces a 41% year on year (YoY) increase in Annualised Recurring Revenue (ARR) to $7M for the quarter to June 2023. The company continued to reinvest revenue growth back into the business as it builds for scale and prepares for expansion into Australia.

KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER

- Recurring revenue of $1.73M for the quarter (Up 48% YOY)

- Processing fee revenue of $1.24M for the quarter (Up 21% YOY)

- ARR of $7M (Up 41% YOY)

- Active customers at end of period 7,087 (Up 9% YOY)

CEO Asantha Wijeyeratne, said it’s a been an exciting quarter as the business scales.

“This quarter we’ve invested in the sales and development teams, adding experienced people to accelerate delivery of our strategic priorities. We’ve further enhanced our operational processes as we build for scale in preparation for our launch into Australia.”

Recurring revenue is up 48% YOY at $1.73M for the quarter, with processing fees contributing $1.24M (72%) of this.

Interest revenue grew to $0.49M for the quarter as the balance of funds held on behalf of customers increased in line with the value of payroll processed. This was a 23% increase on the most recent March 2023 quarter, and 2.5 times more than the quarter to June 2022.

ABOUT PAYSAUCE

PaySauce is a SaaS fintech platform providing solutions for people at work in 14 jurisdictions across the Asia-Pacific region. The technology enables small employers to digitally onboard, pay and manage employees from any device. The platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE filing, labour costing, automated general ledger entries and digital employment contracts. The PayNow feature enables customers’ employees to access the pay they’ve earned before payday, providing a free alternative to payday lenders.

•  PaySauce F24 Q1 Quarterly Market Update - June 2023

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes