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

 

PaySauce Interim Results Announcement


Wellington, New Zealand, 28 November 2019
- PaySauce has started the 2020 financial year with a strong six month result, showing continued growth in customer numbers and revenue. As well as financial growth, staff numbers have also grown. This is to help build out the team and strengthen senior leadership to enable PaySauce to execute future growth and strategic plans.

Chief Executive Asantha Wijeyeratne reflects on the period: “With our first anniversary as a listed company coming up, it’s amazing to see how far we’ve come both from a financial growth perspective, but also internally as a company, making several fantastic new hires and continuing to build on our people centric culture.

We’ve been hard at work on our product, improving and adding new features to the existing payroll engine, such as bulk employee importing, more third party integrations, and improvements to our onboard process - making it easier than ever for customers to sign-up for payroll.

Outside of the payroll product, we’ve also developed the Federated Farmers Contract Builder, and are in the final stages of development for the MBIE Contract Builder. Our new Payroll Giving feature is due to be released shortly too - which will allow employees to easily setup and donate directly from their pay to a registered charity, claiming their tax credit on the fly.”

SUMMARY OF FINANCIAL PERFORMANCE & METRICS

PaySauce Limited (NZX:PYS) (‘the Company’) is pleased to present its financial results for the six month interim period ended 30 September 2019[1]. PaySauce Limited is the parent company of PaySauce Operations Limited, and Right Remuneration Limited (together forming ‘PaySauce’ or ‘the Group’).

Financial PerformanceSept 2019Sept 2018ChangeChange %
Total revenue$899,790$433,188$466,602108%
Total expenses($1,761,818)($2,947,839)($1,186,021)(40%)
Net loss for the period($862,028)($2,514,651)($1,652,623)(66%)

MetricsSept 2019Mar 2019ChangeChange %
Staff (FTEs)26161063%
Customer numbers2,2481,38486462%
ARR[2]$1,602,872$1,038,317$564,55554%

Mr Wijeyeratne, on PaySauce’s outlook for the year to come: “Development of our product and growth in the New Zealand market will continue to be our focus, however we’ve talked before about our interest in expanding into other markets.

Recently we were presented with a great opportunity to get some first-hand exposure to the opportunities in Ireland and the UK, as we joined Callaghan Innovation’s Ireland and UK Agritech Mission. Off the back of this, we’ve identified that Ireland and the UK present significant opportunities to employ our knowledge of farming employment and deliver marked improvements for the industry.

We look forward to sharing more with you on our future growth strategies as the year progresses.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

NIWA: Scientists Say Methane Emitted By Humans ‘vastly Underestimated’

NIWA researchers have helped unlock information trapped in ancient air samples from Greenland and Antarctica that shows the amount of methane humans are emitting into the atmosphere from fossil fuels has been vastly underestimated... More>>

ALSO:

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:



Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: