Pushpay hits US$100M ACMR target

Pushpay chief executive Chris Heaslip: "significant milestone for the business"

Pushpay Holdings, the mobile payments app company, reached its target of US$100 million in annualised committed monthly revenue by Dec. 31 and reiterated it expects to break even on a monthly cash flow basis before the end of 2018.

In October, the Auckland-domiciled, US-headquartered company brought forward the target to Dec. 31, 2017, from March 31, 2018, after ACMR, the company's preferred metric which measures total billings through merchants that Pushpay collects fees from, was US$67.5 million in the six months to Sept. 30, from US$34.3 million a year earlier.

"Achieving US$100 million ACMR within 27 months after reaching US$10 million ACMR is a significant milestone for the business," chief executive Chris Heaslip said. "We continue to focus on scaling the business in the US faith sector in order to maximise shareholder value over the long term."

"Pushpay remains in a position to reach its targets of FY18 NZ GAAP revenue guidance of US$70 million and breakeven on a monthly cash flow basis prior to the end of calendar 2018," he said.

Pushpay's app has gained traction in the US faith sector, where its services are used by 2 percent of the estimated 340,000 churches, including 50 of the top 100 churches in the US, according to its latest investor briefing.

The stock last traded at $4.17 after gaining around 198 percent over the past year.

(BusinessDesk)


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Once again, management puts up a massive target and hits it dead on. Best team I've ever seen in a listed stock. Makes Xero's growth rate look like a stroll in the park!

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Under promise and over deliver. Pretty good formula for success really. Pushpay still haven’t put a foot wrong. Nice work peeps.

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God on their side?

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As a Christian I have invested in Pushpay and GeoOp both being great New Zealand Technology companies.

New Zealand Investors should back Kiwi business.

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Sorry to hear about GeoOp. I guess you can't get them all right.

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I favour both companies as they are close to break even.
Investor sentiment is variable considering GeoOp has great fundamentals and metrics going forward.

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Chris exemplifies a level five leader.

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"targeting churches for revenue" business model is something I couldn't get my head around at the time, no regrets.

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Similar idea to targeting parishioners for revenue. So not that difficult to grasp, really.

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