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

 

Reserve Bank: RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More>>

ALSO:

Elevate NZ: Venture Fund To Lift Productivity

The Government’s new $300 million venture capital fund - announced in last year’s Budget – is now open for business as the Elevate NZ Venture Fund. Finance Minister Grant Robertson says lifting New Zealand's productivity requires well-functioning ... More>>

ALSO:


COVID-19: Case Confirmed In NZ – Expert Reaction

After spreading across the globe for months, the first case of COVID-19 has been reported in New Zealand. The Ministry of Health says the risk of a community outbreak is low, due to their preparedness and the high awareness of the disease. The Science ... More>>

ALSO:

Agriculture: New Legislation To Boost Organics

New organics legislation will boost consumer confidence and help grow an innovative sector, says Food Safety Minister Damien O’Connor. “The Organics Product Bill, introduced to Parliament this week, aims to increase consumer confidence when purchasing ... More>>

ALSO:

Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO: