Sharechat Logo

PaySauce Q2 growth strong as customer numbers climb

Wednesday 10th July 2019

Text too small?

Payroll software provider PaySauce saw strong growth in the second quarter as the number of New Zealand workers receiving their pay through its software continued to climb. 

Paysauce, which targets small to medium-sized businesses, said total recurring revenue rose to $343,400 from $156,200 in the same quarter last year. Customer numbers rose to 2,002, from 1,384 in March and 917 in June last year. The number of employees covered rose to 9,851 from 7,237 in March and 4,411 a year earlier. The gross value of the payroll processed was $108.4 million versus $46.5 million a year earlier. 

“It’s been a frantic but extremely rewarding quarter, ticking off several big milestones such as our first ever annual report, hitting the 2,000 live processing customer mark, and processing over $100 million of payroll for NZ SME’s," chief executive Asantha Wijeyeratne said. 

PaySauce listed on the NZX on Dec. 21 via a backdoor listing through the shell of Energy Mad, with a market capitalisation of $128.6 million, based on the last trade in Energy Mad shares at 2.2 cents.

The stock last traded at 1.1 cents, which values the company at around $64 million 

PaySauce provides cloud-based software-as-a-service. It has specialised in services to farming and other primary industries and formed a partnership in December with the 10,000-member Dairy Women’s Network to deliver payroll and compliance services.

(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:

Further Contract Win Strengthens Scott Technology’s Position In Mining Sector
China’s Assertiveness Is Becoming a Problem for Its Friends, Too
New Talisman - Chairman’s Address to AGM 2020 August 6, 2020
T&G reports its 2020 Interim Results
Gold price hits $2,000 for first time on Covid
TruScreen strengthens its market presence in central and eastern Europe
Refining NZ announces non-cash impairment
Ryman Healthcare COVID-19 update Victoria
Talisman Quarterly Activities Report to 30 June 2020
General Capital gives notice of Annual Meeting

IRG See IRG research reports