Sharechat Logo

Pushpay shares jump 9% after company says third quarter ACMR growth beat second quarter

Monday 9th January 2017

Text too small?

Pushpay Holdings shares jumped after the mobile payments app developer said annualised committed monthly revenue (ACMR) grew US$7.3 million in the December quarter, exceeding its performance in the prior period.

The Auckland-domiciled, Redmond, US-headquartered company lifted ACMR to $41.2 million in the December quarter, more than doubling that figure from a year earlier. That excludes ACMR derived from Pushpay's $3.1 million acquisition of church app business Bluebridge in November, and exceeded the previous quarter ACMR increase by 11 percent. The company will provide more details in its full quarterly update to be released on Wednesday, it said.

The shares climbed 9 percent to $1.95, having risen 23 percent in the past year. The company said it had nothing material to tell the market in December after its share price dropped 27 percent in the month, triggering a price enquiry from the NZX, and last week the stock climbed 28 percent in thin holiday trading. 

Pushpay raised A$40 million in a private placement in October ahead of its secondary listing on the ASX and purchase of Bluebridge, continuing an expansion that saw revenue soar 308 percent in the first half while its net loss widened. The company is targeting US churches with technology that makes it easy for congregations to make donations using their mobile phones and is expanding its mobile payment app to help people pay utility bills.

In October, chief executive and co-founder Chris Heaslip confirmed the company is on target to reach its forecast $100 million of annualised committed monthly revenue by the end of this year.

BusinessDesk.co.nz

  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:

Transpower seeks up to $125 mln in new bond ahead of November maturity
Chorus open to convergence in fixed, mobile networks, CEO McKenzie says
Metlifecare shares fall 4.8% as posts drop as first-half profit falls 66%
Chorus first-half profit drops 29% as wireless competition bites; signals job cuts in cost-cutting drive
February 26th Morning Report
CBL appoints voluntary administrators to 'preserve value' after interim liquidation
NZ dollar holds below 73 US cts as Fed chair Powell testimony comes into focus
World Week Ahead: Rate path check from Powell
RBNZ gets High Court order putting CBL Insurance into interim liquidation
MARKET CLOSE: NZ shares rise, led by Summerset, Metlifecare, Comvita falls after flagging poor season

IRG See IRG research reports