No new Pushpay customers in six months

Fri, 06 Nov 2020

Pushpay shares have dropped more than 11 percent since its half-year result on Wednesday with investors spooked by the lack of new customers in the self-described growth stock.At first glance, it's hard to see why a strong result, with revenue growth leading to net profit doubling, had prompted such a sharp fall in the share price.But under the hood there is a worrying metric: the total number of customers was completely flat since March. All the revenue growth came from taking more income from the existing 10,800 customers and cross-sellin...

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