PaySauce Quarterly Market Update – Sept 2020

PaySauce Announces Another Quarter of Continued  
Strong Growth  
 
Lower Hutt, New Zealand - 13 October 2020  
 
SaaS employment solutions provider PaySauce (NZX:PYS) finishes the second  
quarter of FY21 with continued strong growth. Relative to the second quarter of  
F20, total recurring revenue grew 52% to $519K. PaySauce is also reporting high  
performance in customer satisfaction and loyalty, with a Net Promoter Score  
(NPS) of 76. The number of employees in New Zealand paid through PaySauce  
payroll software increased by 37% to 16,117 people, and the total number of  
employers processing through PaySauce increased proportionately to 3,085.  
 
PaySauce welcomed more than 261 new clients this quarter, a 9% increase in the  
total customer base since June 30th, with the majority of the growth being  
organic. A small number of new clients joined the PaySauce platform through  
the strategic partnership announced in March this year. Growth from this  
channel relies on in-person sales and implementation and due to COVID-19,  
uptake has been slower than originally expected.  
 
 
F21 Q2 Key Metrics  
 
 F21 Q2   F20 Q2  Change  
Results for the quarter  Jul - Sep ‘20  Jul - Sep ‘19  % YoY  
Total recurring revenue  $519K  $341K  
1
52%  
# Payslips processed  116,987  82,678  41%  
Gross value of payroll  
processed   
$194M  $134M  45%  
 
 F21 Q2   F20 Q2  Change  
Position at quarter end  30 Sep ‘20  30 Sep ‘19  %YoY   
# Employees  16,117  11,765  37%  
# Payroll customers  3,085  2,248  37%  
1
F20 Q2 total recurring revenue was reported as $400k in the Market update to September 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, attributes the company’s  
enduring growth to a paramount focus on customer happiness. “Our story is a  
testament to the power of word of mouth. We’re dedicated to taking the best  
possible care of our customers, and this makes them our strongest advocates,  
recommending us to their friends, neighbours and communities. Our latest NPS  
score was 76, and the data tells us this is an exceptionally strong result in the SaaS  
sector. That makes us really proud, and we’re determined to continue to deliver  
amazing customer experiences.”  
 
 
 

 
 
KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER  
● Recurring revenue up 52% to $519K  
● Total employees paid through PaySauce up 37% to 16,117  
● Number of payroll customers up 37% to 3,085  
 
For more information about the quarter results to 30 September 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