PaySauce Quarterly Market Update – Mar 2021

PaySauce grows processing fee revenue by 42%  
 
Lower Hutt, New Zealand - 13 April 2021  
 
Employment fintech PaySauce (NZX:PYS) finished the final quarter of FY21 with  
continued revenue and customer growth.  
 
Processing fees from customers grew 42% YoY to close out the F21 financial year  
in line with the increase in value of gross payroll processed over the quarter. With  
the current low interest rate environment, interest income earned makes up just  
6% of the total recurring revenue for the quarter (F20 Q4: 14%), despite the  
increasing value of funds held on behalf of customers. Combined, increased  
processing fees and the decline in interest earned over the quarter achieved  
recurring revenue growth of 30% YoY.  
 
PaySauce saw net growth in excess of 100 new clients this quarter, bringing the  
number of businesses processing through PaySauce up 36% YoY to 3377. The  
number of New Zealand employees paid through PaySauce software increased  
proportionately to just under 18,000. CEO and co-founder Asantha Wijeyeratne,  
said the last quarter had been pivotal for product development and planning.  
 
“We’ve done a huge amount of work on strategy and development in the last 12  
months, and we’re really excited to begin reaping the rewards. We’ve introduced  
smarter systems, made incisive, data-driven choices and expanded our product  
significantly with the addition of Rosters.”  
 
“We also launched a crucial new partnership and product, BNZ PayNow,  
designed to tackle New Zealand’s payday lending problems and give our  
customers the unprecedented financial freedom of Earned Wage Access.  
 
We’re closing out the year in an ideal position to scale and grow, and we’re eager  
to see what the year ahead will bring.”  
 
  

F21 Q4 Key Metrics (1 of 2)  
 
 
 
 
  
1
F20 Q4 total recurring revenue was reported as $461k in the Market update to March 2020. The reported figure  
last year included the IRD subsidy which has subsequently been removed and is no longer classified as  
recurring revenue.  

 F21 Q4   F20 Q4  Change  
Results for the quarter  Jan - Mar ‘21  Jan - Mar ‘20  % YoY  
Total recurring revenue  $558K  $429K  
1
30%  
# Payslips processed  131,202  93,191  41%  
Gross value of payroll  
processed   
$217M  $151M  43%  

F21 Q4 Key Metrics (2 of 2)  
 
 
 
 
 
 
 
KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER  
● Processing fee revenue up 42% to $526K  
● Total recurring revenue up 30% to $558K  
● Total employees paid through PaySauce up 36% to 17,964  
● Number of payroll business customers up 36% to 3,377  
 
For more information about the quarter results to 31 March 2021, please contact  
investor@paysauce.com .  
 

 F21 Q4   F20 Q4  Change  
Position at quarter end  Jan - Mar ‘21  Jan - Mar ‘20  %YoY   
# Employees  17,964  13,178  36%  
# Payroll customers  3,377  2,492  36%  

ABOUT PAYSAUCE  
 
PaySauce is a SaaS fintech platform providing solutions for people at work. We  
give employers the technology to digitally onboard, pay and manage employees  
from any device. Our platform includes rosters, mobile timesheets, payroll  
calculations, banking integration, PAYE filing, labour costing, automated general  
ledger entries and digital employment contracts.  
 
www.paysauce.com