PaySauce Q1 2019 Market Update

PaySauce Grows Recurring Revenue by 106%, Payee
Numbers by 94%, and Gross Payroll Processed by 88%
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Auckland, New Zealand - 9 April 2019

Following a December 2018 debut on the New Zealand Stock Exchange,
SaaS payroll provider PaySauce (NZSX:PYS) maintains its strong
year-on-year growth trajectory in Q1 2019. Total recurring revenue is up
106%. The number of employees in New Zealand receiving their pay
through PaySauce payroll software has increased by 94%, to 7,237 people,
with annual payslips up 73% to 46,812. The total number of payroll
customers has increased by 86% to 1,384. The gross payroll value processed
by PaySauce in the preceding year totals $72 million, an 88% increase.

Key Metrics Q1 2019 Q1 2018 % YOY Change
Total Recurring Revenue NZD $240K NZD $117K 106%
# Employees (at end of Qtr) 7,237 3,729 94%
# Payslips (total for Qtr) 46,812 27,046 73%
# Payroll Customers (at end
of Qtr)
1,384 746 86%
Gross value of payroll
processed
NZD $72M NZD $38M 88%


CEO and co-founder of PaySauce, Asantha Wijeyeratne, highlights the
quarter’s key milestones. “By migrating our entire customer base to Inland
Revenue’s new ‘Payday Filing’ system in Q4 2018, well ahead of the April
deadline, we were f ree to focus on product and partnerships. We’re excited
to report that strong growth has continued.

“Q1 saw our strategic partnership with key industry body Dairy Women’s
Network kick off in earnest, with a series of educational workshops
delivered in collaboration with DairyNZ. We hosted 11 events, spanning
f rom Gore in the deep South to Taipa in the far North, attended by
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​these YOY figures are prepared on the same basis as those in the Profile, released at listing date on the NZX.

hundreds of our target customers. These were held in the lead up to major
payroll compliance changes under Payday Filing, giving us an opportunity
to address real and pressing concerns for attendees.”

KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS
● Revenue up 106%
● Total employees paid through PaySauce up 94% to 7,237
● Number of payslips issued up 73% to 46,812
● Number of payroll customers up 86% to 1,384
● Gross payroll value processed up 88% to $72 million

For more information about the results to 31 March 2019, please contact
investor@paysauce.com​.
www.paysauce.com
ABOUT PAYSAUCE
PaySauce provides award-winning SaaS payroll to small and medium sized
businesses. With PaySauce, employers can manage payroll and run pays
accurately and efficiently f rom web, iOS and Android applications. The
PaySauce platform includes mobile timesheets, payroll calculations, banking
integration, PAYE filing, labour costing, automated general ledger entries and
digital employment contracts.