PaySauce Quarterly Market Update – June 2020

PaySauce Sustains Strong Growth During Global  
Pandemic   
 
Lower Hutt, New Zealand - 14 July 2020  
 
SaaS employment solutions provider PaySauce (NZX:PYS) finishes the first  
quarter of FY21 with continued strong growth. Relative to the first quarter of F20,  
total recurring revenue grew 54% to $449K. The number of employees in New  
Zealand being paid through PaySauce payroll software increased by 42% to 13,952  
people, and the total number of employers processing pays through PaySauce  
increased by 41% to 2,824.   
 
PaySauce welcomed more than 330 new clients this quarter, a 13% increase in  
total customer base since March 31st despite the COVID-19 pandemic and  
nationwide lockdown. However, the majority of these new customers came  
onboard late in the quarter, limiting their contribution towards the quarter’s  
recurring revenue.   
 
F21 Q1 Key Metrics  
 
 F21 Q1   F20 Q1  Change  
Results for the quarter  Apr - Jun ‘20  Apr - Jun ‘19  % YoY  
Total recurring revenue  $449K  $291K  
1
54%  
# Payslips processed  99,390  68,921  44%  
Gross value of payroll  
processed   
$158M  $108M  46%  
 
    
 F21 Q1   F20 Q1  Change  
Position at quarter end  30 Jun ‘20  30 Jun ‘19  %YoY   
# Employees  13,952  9,851  42%  
# Payroll customers  2,824  2,002  41%  
 
1
F20 Q1 total recurring revenue was reported as $343k in the Market update to June 2019. The reported figure  
last year included the IRD subsidy which has subsequently been removed and is no longer classified as  
recurring revenue.  

CEO and co-founder of PaySauce, Asantha Wijeyeratne, says “it’s no mean feat to  
have achieved such positive quarterly results during this period of economic  
uncertainty. We’ve continued to grow our revenue and customer base, as well as  
hiring new staff. With this position of relative security, we’ve decided to extend  
the free PaySimple offering through to the end of September, to continue to help  
out Kiwi businesses who have been hard-hit by the pandemic. This is a reflection  
of our “people-first” approach and is something that I’m personally very proud  
of.”   
 
 
 
 

 
 
 
 
KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER  
● Recurring revenue up 54% to $449K  
● Total employees paid through PaySauce up 42% to 13,952  
● Number of payroll customers up 41% to 2,824  
 
For more information about the quarter results to 30 June 2020, please contact  
investor@paysauce.com .  
 
ABOUT PAYSAUCE  
 
PaySauce is software at work for people, providing employment solutions to small  
and medium-sized businesses. PaySauce enables business owners to pay and  
manage employees accurately and efficiently using the 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.  
 
www.paysauce.com