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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

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