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.
No comments yet
MARKET CLOSE: NZ shares mixed ahead of Anzac Day holiday; A2, Synlait fall further, Fisher & Paykel bounces
USX: Introducing Pharmazen Limited
NZ dollar falls to 3 1/2 month low as rising US interest rates bring trading back to fundamentals
Gold Report 23rd April 2018
Gold Report 16th April 2018
Gold Report 9th April 2018
Gold Report 3rd April 2018
Gold Report 26th March 2018
Gold Report 19th March 2018
Gold Report 12th March 2018