This morning NZ tech startup PUSHPAY FPO NZX (ASX: PPH) reported its financial results for the year ending September 30 2017.
Below is a summary of the results for the half year with comparisons to the prior corresponding period. All figures in U.S. dollars.
- Revenue of $29.7m, up 145%
- Net loss of $12.5m, up 10.4%
- Annualised committed monthly revenue of $67.5m, up 97%
- Total customers 7,121, up 35%
- Average revenue per customer $790 per month, up 46%
- Aims to breakeven on a monthly cash flow basis by end of 2018
- Aims to pursue a US stock exchange listing within the next 15 months
Pushpay sells software and technology platforms that primarily let Christian faith-based churches and not-for-profit organisations tap their followers for regular digital donations. It falls into the hyper-growth category given its top line growth rates, although the growing net loss over the period reflects its heavy investments for growth.
The stock is up 130% over just 2017 and may remain volatile over the 12 months ahead.
