iSignthis published First Half 2019 Results 

Australian Securities and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX / DE: TA8) is pleased to provide the following update for the half year ended 30th June 2019.

First Half Highlights to 30th June 2019:

• Total audited operating revenue for the 1HFY19 of A$7.5m, up +49% YoY from A$5.0m
• Total revenue including other income was A$8.2m, up +48% YoY from A$5.5m
• 1HFY19 statutory loss after tax was 75% lower YoY at (A$0.7m) versus 1HFY18 (A$2.9m)
• EBIT for the 1HFY19, adjusted for non-cash share-based payments, was (A$0.3m) versus 1HFY18 (A$2.85m)
• The Company reported it achieved a cash flow positive position in mid-May and is pleased to report it achieved both an EBIT and cashflow positive result for the 2QFY19
• Cash balance as at 30th June 2019 was $9.9m (not including $3.1m of options exercised early in July, taking the cash balance to ~$13.0m post the end of the half)
• Client Funds held at the end of the 1HFY19 were approximately A$34.0m
• In the period ending 30 June 2019, the Company continued to elect to expense its software development costs, in lieu of capitalising them.

Operational Trading Update:

• The Company maintains the current EBIT guidance for FY2019 of $10.7m supported by the following operational updates for activities post 30 June 2019:
• Actual annualised monthly GPTV at 31st July circa A$830m (Up↑ 96% from 30th June)
• Merchant Services Fee (MSF) from the EU Tier 1 Network continues to grow as expected in line with new merchant onboarding and rising processing volumes (see chart below)
• Group approvals at end of July were up 14% to 240 overall (vs 210 in 2Q report), which is made up of 95 Acquiring approvals (vs 80 in 2Q) and 145 EMA approvals (vs 130 in 2Q).
• In addition, the sales team have built up a significant pipeline of merchant applications which are being processed by the approval/underwriting team.
• The pipeline will see further growth in eMoney and card services.
• On 8th August, iSignthis announced Australian Principal Member licensing agreement with the Asia Pacific (Singapore) based regional subsidiary of Visa Inc (NYSE: V)
• The operating cost base was revised in August to circa $11.0m pa annualised (from $8.75m), taking effect August 2019 onwards, to include additional new product initiatives and allow the Company to capture further revenue generating opportunities.

More details can be found HERE

iSignthis Ltd is on the OneStopBrokers Directory. Find the Company HERE

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