PaySauce Quarterly Market Update – Dec 2020
Small businesses’ confidence helps drive another quarter
of growth for PaySauce
Lower Hutt, New Zealand - 13 January 2020
Online employment solutions provider PaySauce (NZX:PYS) finished the third
quarter of FY21 with continued revenue and customer growth.
Total recurring revenue grew 44% to $569K, compared to the third quarter of F20.
The number of New Zealand employees paid through PaySauce software
increased by 34% to 17,944 people, while the total number of businesses
processing through PaySauce increased proportionately to 3,274. PaySauce
welcomed more than 300 new clients this quarter, leading to a 6% increase in the
total business customers since the last quarter.
CEO and co-founder, Asantha Wijeyeratne, said the platform’s continued growth
reflects the recovery of the small business economy in the wake of COVID-19.
“Over the last quarter we saw both new and established businesses coming on
board,” said Mr Wijeyeratne.
“It’s been particularly uplifting to see our nation’s entrepreneurs regaining their
balance and confidence over the last quarter”.
“We’ve seen a significant number of customers resume payroll processing after a
break, as they’re once again in a position to employ staff. Our customers are a
tenacious and resilient bunch, and it’s our pleasure to support them and see
them bouncing back after a diabolically challenging year.”
F21 Q3 Key Metrics (1 of 2)
1
F20 Q3 total recurring revenue was reported as $461k in the Market update to December 2019. The reported
figure last year included the IRD subsidy which has subsequently been removed and is no longer classified as
recurring revenue.
F21 Q3 F20 Q3 Change
Results for the quarter Oct - Dec ‘20 Oct - Dec ‘19 % YoY
Total recurring revenue $569K $395K
1
44%
# Payslips processed 131,851 98,433 34%
Gross value of payroll
processed
$218M $160M 36%
F21 Q3 Key Metrics (2 of 2)
KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER
● Recurring revenue up 44% to $569K
● Total employees paid through PaySauce up 34% to 17,944
● Number of payroll business customers up 35% to 3,274
For more information about the quarter results to 31 December 2020, please contact
investor@paysauce.com .
F21 Q3 F20 Q3 Change
Position at quarter end Oct - Dec ‘20 Oct - Dec ‘19 %YoY
# Employees 17,944 13,349 34%
# Payroll customers 3,274 2,434 35%
ABOUT PAYSAUCE
PaySauce is a SaaS platform providing payroll and employment solutions to small
and medium businesses. We give business owners the technology to pay and
manage employees accurately and efficiently from any device. Our platform
includes mobile timesheets, payroll calculations, banking integration, PAYE filing,
labour costing, automated general ledger entries and digital employment
contracts.
www.paysauce.com
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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