Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

PaySauce Grows Recurring Revenue by 120%

PaySauce Grows Recurring Revenue by 120%, Customer Numbers by 118%, and Gross Payroll Processed by 133%1

Wellington, New Zealand, 10 July, 2019 - SaaS employment solutions provider PaySauce (NZX:PYS) maintains its strong year-on-year growth trajectory for Q2 2019. Total recurring revenue1 is up 120%. The number of employees in New Zealand receiving their pay through PaySauce payroll software has increased by 123% to 9,851 people, with payslips issued up 115% to 68,921. The number of employers processing pays through PaySauce payroll software has increased by 118% to 2,002. The gross payroll value processed by PaySauce for the quarter totalled $108.4 million, an increase of 133%.

Key Metrics[1]Q2 2019Q2 2018% YOY
Change
Total recurring revenue[2]NZD $343.4KNZD $156.2K120%
# Employees (at end of qtr)9,8514,411123%
# Payslips (total for qtr)68,92132,051115%
# Payroll customers (at end of qtr)2,002917118%
Gross value of payroll processed NZD $108.4MNZD $46.5M133%

CEO and co-founder of PaySauce, Asantha Wijeyeratne, reflects on the quarter: “It’s been intense but extremely rewarding. We’ve seen major milestones like our first ever annual report, hitting 2,000 live processing customers, and processing over $100M of payroll for Kiwi businesses in a quarter. I’m incredibly grateful for all of the team’s hard work, and truly proud of our continued growth as a SaaS business.”








KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER
Recurring revenue up 120% to $343.3K
Total employees paid through PaySauce up 123% to 9,851
Number of payslips issued up 115% to 68,921
Number of payroll customers up 118% to 2,002
Gross payroll value processed up 133% to $108.4M


Footnotes:
[1] these figures are prepared on the same basis as previous quarterly updates, are unaudited, and may include Non-GAAP financial information which does not have a standardised meaning prescribed by GAAP and therefore may not be comparable to similar financial information presented by other entities.
2 total recurring revenue includes subsidy revenue claims that have yet to be finalised with Inland Revenue, and may be subject to change. A provision has been made in this figure accordingly.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 17.% In June Year: Fuel And Rent Drive Inflation

The consumers price index (CPI) rose 0.6 percent in the June 2019 quarter, due to higher prices for petrol and rent, Stats NZ said today. More>>

ALSO:

Services: Softer June Points To Economic Slowdown

Activity in New Zealand's services sector softened in June, adding to a picture of lacklustre economic growth. The BNZ-BusinessNZ performance of services index fell 0.8 of a point in June from May to a seasonally adjusted 52.7. More>>

ALSO:

Incomings: Migration Remains High

Annual net migration was provisionally estimated at 50,200 (± 800) in the year ended December 2018 compared with 52,600 in the previous year, Stats NZ said. More>>

ALSO:

BusinessDesk: ComCom Files High Court Proceedings Against Westpac

The commission alleges the bank breached the Credit Contracts and Consumer Finance Act 2003 by failing to provide key information it was required to give customers under the law. More>>