PaySauce Quarterly Market Update – March 2024

PaySauceforecastsFY24netprofit
LowerHutt,NewZealand-2April2024
KEYYEAR-ON-YEARPERFORMANCEHIGHLIGHTSFORQ4FY24
●
Ontracktodelivermaidennetprofitaftertaxandpositivecashflowforthe
yeartoMarch2024(FY24)
●
ARRof$8m(Up19%YOY)
●
Recurringrevenueof$2.02mforthequarter(Up24%YOY)
●
Processingfeerevenueof$1.43mforthequarter(Up16%YOY)
●
Customersatendofthequarter-7,368(Up7%YOY)
1
MetricMar2024YoYIncrease
ARR$8m19%
Recurringrevenue(forthequarter)$2m24%
Processingfeerevenue(forthequarter)$1.4m16%
Customers(processedinMarch2024)7,3687%
1

PaySaucehasclosedoutthe2024financialyear,deliveringgrowthinallitskey
performancemetricsandnowexpectstodeliveramaidenFY24netprofitaftertax
andpositivecashflow.
RecurringrevenuefortheQ4FY24isup24%year-on-yearat$2.02m,with
processingfeescontributing$1.43m(71%).Interestrevenuefromfundsheldon
behalfofourcustomersisup50%year-on-yearat$0.59m.
CEOAsanthaWijeyeratnesays:“I’mimmenselyproudofwhattheteamhasbeen
abletoachieveinsuchashortspaceoftime,especiallywhenconsideredagainst
thechallengingeconomicbackdropofthelasttwelvemonths.
“ARRhasrisen,underpinnedbyfurthergrowthinprocessingfeerevenueanda
favourableinterestrateenvironment.Thewellflaggedmaturationonthecore
dairyfarmingverticalandthehostileeconomicclimatehasseenamoderationof
growthastheyearhasprogressed.However,againstthiswearedelightedwith
theadvanceswehavemadetoreadythecompanyforanexpectedaccelerationin
performanceinthecomingyear.
“Notably,wehaveseenaliftincustomeracquisitioninthetwelvemonthstothe
endofMarch2024of7%to7,368.Thisisearlyevidenceofournewsalesand
marketingstrategiesthroughAccountantsgainingtraction.
“ThecompletionoftheProofofConcept(POC)forourwholesalesolution,which
wepreviouslyreferredtoas‘embeddedpayroll,’isimminent.Wecontinueto
expectthissolution,tobeofferedtoemployeeserviceprovidersglobally,hasthe
potentialtodeliverastepchangeinPaySauce’sgrowth.
“Finally,aswesignaltoday,weexpecttodeliveraprofitandpositivecashflowfor
thefullyearandwehaveachievedthisallwhilecontinuingtoinvesttogrow.We
havestrengthenedtheteaminsizeandcapability,and(aswesetoutbelow)
investedinourinfrastructureforimprovedcompliance,security,andefficiency.
“We’rewellpositionedforthenextstageofscalingthebusiness.Ilookforwardto
providingafurtherupdatewhenwereleaseourFY24financialresults,scheduled
for21May”

Investingforlong-termgrowth
PaySauce,havingmigrateditsproductionserversand
back-endtoolstoAmazonWebServices(AWS)inthe
quarter,hasputinplacetheinformation
infrastructuretoquicklyscaleandtheflexibilityto
offercontinuousproductupgrades.
Themove,alignedwiththecompany’sstrategicgoal
ofinvestingforlong-termgrowth,importantly
preparesPaySauceforthelaunchofitswholesale
payrollsolutionandtheexpectedaccelerationin
demandforservicesitisexpectedtodriveoverthe
comingyear.
AWS’globalnetworkofstate-of-the-artdatacentres,withitsbuilt-inredundancy
guaranteeshighavailabilityandfaulttolerance,safeguardsaseamlessuser
experience.Meanwhile,itsworld-leadingcomplianceandprotectionframeworks,
alignswithPaySauce’sprioritytosafeguardsensitivedataandmaintaincustomer
trust.
ENDS
ABOUTPAYSAUCE
PaySauceisaSaaSfintechplatformprovidingsolutionsforpeopleatworkin14
jurisdictionsacrosstheAsia-Pacificregion.Thetechnologyenablessmall
employerstodigitallyonboard,payandmanageemployeesfromanydevice.The
platformincludesrosters,mobiletimesheets,payrollcalculations,banking
integration,automatedpayments,PAYEfiling,labourcosting,automatedgeneral
ledgerentriesanddigitalemploymentcontracts.ThePayNowfeatureenables
customers’employeestoaccessthepaythey’veearnedbeforepayday,providinga
freealternativetopaydaylenders.
www.paysauce.com
CONTACT
Pleasedirectanyinvestmentqueriestoinvestor@paysauce.com.