The Conversation (0)
Pushpay Achieves Over US$2.2 Billion in Processing Volume
Nov. 06, 2019 03:00PM PST
Australia InvestingPushpay reported strong financials in its interim report across nearly every measure, including cash, EBITDA and operating margins.
Pushpay (ASX:PPH), a digital company principally engaged in church giving solutions announced a 45 percent increase in processing volumes, reaching US$2.2 billion for the period ending 30 September 2019. Adding 485 new customers to its platform compared to last year, Pushpay accelerated profit margins up to 65 percent, while increasing its cash balance to US$22.9 million, a 64 percent increase over the same period.
As quoted in the interim report:
Pushpay increased its Customer base by 485 Customers over the 12 months ended 30 September 2019, from 7,420 to 7,905, an increase of 7%. Pushpay’s strategy is progressing well, with modest growth in the number of new CUstomers and a continued increase in the proportion of new medium and large Customers.
Over the 12 months to 30 September 2019, Pushpay’s proportion of medium and large Customers increased from 54% to 56%. Unit churn driven by small Customer continues to decline.