PaySauce Quarterly Market Update - Dec 2022

MKTUPDTE

Thu, Jan 12 2023 08:30 am

PaySauce lifts Annualised Recurring Revenue 54% YOY with growth from SMEs

Lower Hutt, New Zealand - 12 January 2023

Employment fintech PaySauce (NZX:PYS) increased Annualised Recurring Revenue (ARR) 54% year on year (YOY) to $6.6M at December 2022. The value of gross payroll processed continues to increase and illustrates the growing trust SMEs place in PaySauce.

CEO, Asantha Wijeyeratne, said it was pleasing given the macroeconomic conditions:

“Against a backdrop of economic uncertainty, small businesses continue to place huge value in compliant and straightforward payroll software; one less thing keeping them up at night.”

“The increase in revenue is a result of both continued growth and strategic pricing decisions made in Q2 that have been well received by our loyal customer base.”

“We’re trusted with processing billions of dollars of payroll for SMEs in New Zealand each year. That’s a great platform as we expand our reach into Australia.”

KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER

- Recurring revenue of $1.56M (Up 65% YOY)
- Processing fee revenue of $1.22M (Up 37% YOY)
- ARR of $6.6M (Up 54% YOY)
- Active customers at end of period 6,810 (Up 16% YOY)

Recurring revenue was up 65% YOY at $1.56M for the quarter with processing fees contributing $1.22M of this (up 37% YOY).

Interest revenue grew to $0.35M for the quarter as interest rates rose substantially and the balance of funds held on behalf of customers increased in line with the value of payroll processed. This was a 42% increase on the most recent September 2022 quarter, and nearly 5 times more than the quarter to December 2021.

ABOUT PAYSAUCE

PaySauce is a SaaS fintech platform providing solutions for people at work in 14 jurisdictions across the Asia-Pacific region. We give employers the technology to digitally onboard, pay and manage employees from any device. Our platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE ﬁling, labour costing, automated general ledger entries and digital employment contracts.

www.paysauce.com