Sharechat Logo

Pushpay hits US$100M ACMR target, on track to break even on monthly cash flow basis

Wednesday 3rd January 2018

Text too small?

Pushpay Holdings, the mobile payments app company, reached its target of US$100 million in annualised committed monthly revenue by Dec. 31 and reiterated it expects to break even on a monthly cash flow basis before the end of 2018. 

In October, the Auckland-domiciled, US-headquartered company brought forward the target  to Dec. 31, 2017, from March 31, 2018, after ACMR, the company's preferred metric which measures total billings through merchants that Pushpay collects fees from, was US$67.5 million in the six months to Sept. 30, from US$34.3 million a year earlier.

“Achieving US$100 million ACMR within 27 months after reaching US$10 million ACMR is a significant milestone for the business," chief executive Chris Heaslip said. "We continue to focus on scaling the business in the US faith sector in order to maximise shareholder value over the long term."

“Pushpay remains in a position to reach its targets of FY18 NZ GAAP revenue guidance of US$70 million and breakeven on a monthly cash flow basis prior to the end of calendar 2018," he said. 

Pushpay's app has gained traction in the US faith sector, where its services are used by 2 percent of the estimated 340,000 churches, including 50 of the top 100 churches in the US, according to its latest investor briefing. 

The stock last traded at $4.17 after gaining around 198 percent over the past year. 

(BusinessDesk)

  General Finance Advertising    

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.

Related News:

NZX holds first Investment in NZ seminar to market the market
NZ dollar gains may be short-lived as investor nerves tested
Global Dairy Trade looks to boost liquidity, add new markets
NZ First urged to block exploration ban
Net migration falls as growing number of migrants pack their bags
Ebos tightens grip on Australian chain
October 19th Morning Report
NZ dollar falls vs yen; investors seek haven in heightened volatility
English upbeat about NZ economy, points to headwinds
MARKET CLOSE: NZ shares mixed; Restaurant Brands soars on takeover talk

IRG See IRG research reports