PaySauce reports first positive earnings, revenue growth

PaySauce, a New Zealand-based employment fintech company, has reported its unaudited financial results for the six months ending September 2023.

The company achieved its first period of positive earnings before tax, depreciation, and amortization (EBTDA) of $255k, reversing a loss of $200k from the same period in 2022.

Operating revenue increased by 40% to $3.6m, driven by new customer growth and higher interest income.

PaySauce also saw a 32% increase in annualized recurring revenue (ARR) compared to the previous year.

The company is currently building its Gen 2.0 Payroll Engine and has entered an agreement for a proof of concept to embed payroll into third-party software, potentially opening a new market for the company.

PaySauce will continue to focus on a healthy balance of growth and earnings, diversifying its customer base and seeking new potential partners for embedded payroll.