iSignthis released 4C quarterly results; Revenue in FY18 compared to FY17 is 363% greater
Australian Securities and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX|FRA_DE:TA8), the global leader in RegTech for identity verification and transactional banking/payments, is pleased to provide the following business update and Appendix 4C for the quarter ended 30th June2018.
iSignthis Ltd is able to provide the following details based on our unaudited management accounts.
Total Operating Revenue (A$) *
• Unaudited management accounts reflect the following revenue performance for the period ending 30 June 2018;
o Revenue in FY18 compared to FY17 is 363% greater.
o Revenue in Q4FY18 compared to Q3FY18 is 167% greater.
o Revenue in Q4FY18 was in excess of $3.95m.
o Unaudited revenue for the 6 months from 1st January 2018 to 30th June 2018 was in excess of A$5.5m.
• Cash Receipts increased to A$2.633m, representing a 67.4% increase versus the March quarter of A$1.571m
• The Company continues to increase the value of its contracted GPTV, which is now in excess of AU$600m
• The uptake of the Company’s expanded suite of emoney services and products based around the unique patented Paydentity® KYC technology solution, continue to build momentum.
• The Company continues to strategically invest in establishing the infrastructure and network connections to process and settle funds at the highest possible margins and reducing the reliance on third party providers. The initial increase in costs and operating at lower margins is seen as a necessary short term issue with expected margin growth to occur in the coming quarters.
• Tier 1 or direct connect capabilities to Credit Card Association, Central Banks, and Payment Schemes (e.g. SEPA, RITs, BECS, SWIFT) will be the Company’s focus for the coming three quarters, in order to eliminate third parties in our supply chain, and reduce our dependency on third party networks, and the associated costs. These facilities will progressively be going live in our EU and Australian operations, with each Credit Card Association, payment scheme and central bank connection being a discrete milestone.
• Implementation of Tier 1 infrastructure will be by the inhouse iSignthis software development team, with marginal increase in staff costs.
• The Company has requested a certification slot with Mastercard for Australia, which is likely to be in circa 10-11 months based upon information received from Mastercard. AMEX is likely to be sooner, as preparations have already commenced.
• The Company commenced execution of its Australian strategy to reduce reliance on incumbent banks and legacy networks.
The Company advises that its accounts are currently being audited by the Company’s auditors, mGrant Thornton, and detailed commentary on revenue performance will be provided with the release of the full-year results in August 2018.
Read the full release at: ISX Quarterly Update
About iSignthis Ltd (ASX : ISX | DE_FRA : TA8)
Australian Securities and Frankfurt Stock Exchange listed iSignthis Ltd is the global RegTech leader in remote identity verification, payment authentication and payment processing. iSignthis provides an end-to-end onboarding service for merchants, with a unified payment and identity service via our Paydentity™ and ISXPay® solutions.
By converging payments and identity, iSignthis® delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world’s 4.2Bn ‘bank verified’ card or account holders, that can be remotely on-boarded to regulated merchants in as little as 3 to 5 minutes.
iSignthis Paydentity service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business.
iSignthis’ and its subsidiary, iSignthis eMoney Ltd, trade as ISXPay®, and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, Australia and New Zealand. ISXPay is a principal member of Visa Inc, Mastercard Worldwide and JCB International.
Read more about the company at our website www.isignthis.com.