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PaySauce grows recurring revenue and customer numbers - PaySauce

Contributor:
Fuseworks Media
Fuseworks Media

SaaS employment solutions provider PaySauce (NZX:PYS) continues to deliver strong year-on-year growth, with total recurring revenue1 up 96% for Q4 2019. The number of employees in New Zealand being paid through PaySauce payroll software increased by 114% to 13,349 people. The number of payslips issued grew 106% to 98,443, and total employers processing pays through PaySauce payroll increased by 108% to 2,434. The gross payroll value processed by PaySauce for the quarter totalled $160.3 million, an increase of 120%.

Key Metrics / Q4 2019 / Q4 2018 / % YOY Change

Total recurring revenue  / NZD $461.4K / NZD $235.4K / 96%

# Employees (at end of qtr) / 13,349 / 6,227 / 114%

# Payslips (total for qtr) / 98,443 / 47,814 / 106%

# Payroll customers (at end of qtr) / 2,434 / 1,171 / 108%

Gross value of payroll processed / NZD $160.3M / NZD $73M / 120%

CEO and co-founder of PaySauce, Asantha Wijeyeratne, reflects on the quarter: "It’s safe to say we ended the year on a high note, being named by Deloitte as one of the fastest-growing tech companies in the Asia-Pacific region, and hitting another milestone of $2M ARR based on December monthly revenue. While the majority of our customers come from the agriculture sector, this quarter has seen our customer base diversify across a range of rural industries. We’re really excited to be heading into 2020 with a renewed focus on partnerships and customer experience."

KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER

● Recurring revenue up 96% to $461.4K

● Total employees paid through PaySauce up 114% to 13,349

● Number of payslips issued up 106% to 98,443

● Number of payroll customers up 108% to 2,434

● Gross payroll value processed up 120% to $160.3M

For more information about the quarter results to 31 December 2019, please contact investor@paysauce.com.

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