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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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