PaySauce Quarterly Market Update – Dec 2021
PaySauce accelerates recurring revenue growth to
67% YoY
Lower Hutt, New Zealand - 18 January 2022
Employment fintech PaySauce (NZX:PYS) is pleased to report continued strong
growth for the quarter with recurring revenue up 67% year on year and 22%
quarter on quarter.
Quarterly Recurring Revenue
FY22 Q3FY21 Q3Change
Oct - Dec ‘21Oct - Dec ‘20% YoY
PaySauce$887K$569K54%
SmoothPay$62K
1
-N/A
Total Recurring Revenue$949K$569K67%
1
The provisional purchase price allocation for theacquisition of SmoothPay Limited has been
completed. SmoothPay revenue for the previous quarter (to Sep 2021) has been restated from $23k
($57k - $34k) to $55k as a result, increasing last quarter’s total recurring revenue from $747k to $779k.
Total recurring revenue includes both PaySauce processing fees and interest
income as well as SmoothPay subscription revenue for the quarter from October
to December 2021. The key driver of the growth was PaySauce processing fees, up
57% YoY, the third consecutive quarter of accelerated growth, following the 44%
YoY and 45% YoY increases for the quarters to June and September respectively.
The growth comes from consistent growth in PaySauce customer numbers (38%
YoY) and increased average processing fees (17% YoY) following a price increase in
the quarter.
Payroll Customers
as at 31 December
FY22 Q3FY21 Q3Change
Dec ‘21Dec ‘20% YoY
PaySauce4,5113,27438%
SmoothPay1,382-N/A
Total Payroll Customers5,8933,27480%
CEO Asantha Wijeyeratne said that the careful strategic decisions made earlier in
the year to adjust PaySauce’s packages and increase pricing are playing out:
“Our existing customers continue to recognise the value that PaySauce adds to
their business and have supported the changes across the board.
I’m also extremely pleased to see new customer growth for PaySauce at 38% YoY,
testament to the solid reputation we have in the market, built on our sustained
focus on product innovation and awesome customer service.
These key factors mean we’ve exceeded 20% quarterly growth for two
consecutive quarters.”
Customers’ Employee
Numbers as at 31 Dec
FY22 Q3FY21 Q3Change
Oct - Dec ‘21Oct - Dec ‘20% YoY
PaySauce
25,19017,94440%
SmoothPay38,473--
Total Employees63,66317,944255%
KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER
●
PaySauce processing fee revenue up 57% YoY to $827K
●
Total recurring revenue up 67% YoY to $949K
●
Customers using the PaySauce platform up 38% YoY to 4,511
●
Total customers (inc SmoothPay) up 80% YoY to 5,893
For more information about the quarter results to 31 December 2021, please contact
investor@paysauce.com .
ABOUT PAYSAUCE
PaySauce is a SaaS fintech platform providing solutions for people at work in 14
jurisdictions across the Asia-Pacific region. 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,
automated payments, 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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