Profit: Loss of$267,000, narrowed 37% from loss of $425,000.
Main takeaway: The company saw growth despite challenging conditions, with its small business customers struggling to cope amidst high interest rates and cost of capital.
High interest rates are a double-edged sword for NZX-listed payroll software-as-a-service company PaySauce: they boost the revenue it earns from funds held on account for its customers, but they also mean its small and micro-business customer base is feeling the pinch.
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Key points
Revenue: Up 40% to $3.6m.
Profit: Loss of$267,000, narrowed 37% from loss of $425,000.
Main takeaway: The company saw growth despite challenging conditions, with its small business customers struggling to cope amidst high interest rates and cost of capital.
