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PaySauce Grows Recurring Revenue by 96%
Wellington, New Zealand, 15 January 2020 -
SaaS employment solutions provider PaySauce
(NZX:PYS) continues to deliver strong year-on-year growth,
with total recurring revenue1 up 96% for Q4 2019. The
number of employees in New Zealand being paid through
PaySauce payroll software increased by 114% to 13,349
people. The number of payslips issued grew 106% to 98,443,
and total employers processing pays through PaySauce payroll
increased by 108% to 2,434. The gross payroll value
processed by PaySauce for the quarter totalled $160.3
million, an increase of 120%.
| Key Metrics[1] | Q4 2019 | Q4 2018 | % YOY Change |
| Total recurring revenue[2] | NZD $461.4K | NZD $235.4K | 96% |
| # Employees (at end of qtr) | 13,349 | 6,227 | 114% |
| # Payslips (total for qtr) | 98,443 | 47,814 | 106% |
| # Payroll customers (at end of qtr) | 2,434 | 1,171 | 108% |
| Gross value of payroll processed | NZD $160.3M | NZD $73M | 120% |
CEO and co-founder of PaySauce, Asantha Wijeyeratne, reflects on the quarter: “It’s safe to say we ended the year on a high note, being named by Deloitte as one of the fastest-growing tech companies in the Asia-Pacific region, and hitting another milestone of $2M ARR based on December monthly revenue. While the majority of our customers come from the agriculture sector, this quarter has seen our customer base diversify across a range of rural industries. We’re really excited to be heading into 2020 with a renewed focus on partnerships and customer experience.”
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