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