PaySauce Quarterly Market Update – Mar 2022

PaySauce accelerates recurring revenue growth to
87% YoY and achieves positive cash flow.
Lower Hutt, New Zealand - 13 April 2022
Employment fintech PaySauce (NZX:PYS) has seen continued strong growth for
the quarter with recurring revenue up 87% year on year (YOY) and positive cash
flow for the first time.
CEO Asantha Wijeyeratne said that the results were driven off the back of
increased revenue from November 2021 following strategic pricing changes, the
SmoothPay acquisition and continued cost control.
“We’ve done what we said we’d do in 2020 - achieved a positive cash position.
This is thanks to an increase in customer numbers from organic growth, the
SmoothPay acquisition and the corresponding opportunity to increase average
revenue for those customers.”
“Generating positive cash flow has been our top priority over the last two years. To
do that in the timeframe we originally set without compromising rapid growth is
really pleasing. We now have a platform from which to reinvest profits back into
the business to further accelerate that growth.”
“The team is also committed to process and system innovations to delight
customers and build scale. By partnering with industry experts in new and
existing markets, we’ve added value by removing friction for our customers.”
KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER
●
Generated positive cash flows for the quarter for the first time
●
Recurring revenue passes the $1.0M milestone (87% increase YOY)
●
ARR of $4.46M (83% increase YOY)
●
Active PaySauce customers at end of period (excl. SmoothPay) 4,664 (38%
increase YOY)
●
Active PaySauce customers at end of period (incl. SmoothPay) 6,052 (79%
increase YOY)
●
Interest income (62% increase YOY) positively impacted by rising interest
rates

Total recurring revenue includes both PaySauce processing fees and interest
income as well as SmoothPay subscription revenue for the quarter from January
to March 2022. The key growth driver was PaySauce processing fees, up 69% YoY,
the fourth consecutive quarter of accelerated growth as shown in the graph
below. Rising interest rates also contributed to growth, with interest income
increasing 62% YoY, albeit accounting for only 5% of total recurring revenue.

PaySauce will be announcing its FY22 full year result on 25th May 2022. Investors
and analysts will be invited to attend a virtual briefing following the result
announcement, where management will discuss PaySauce's results for FY22 and
answer questions.

For more information about the fourth quarter result to 31 March 2022, or to
confirm interest in a virtual briefing please contactinvestor@paysauce.com .
ABOUT PAYSAUCE
PaySauce is a SaaS fintech platform providing solutions for people at work in 14
jurisdictions across the Asia-Pacific region. We give employers the technology to
digitally onboard, pay and manage employees from any device. Our platform
includes rosters, mobile timesheets, payroll calculations, banking integration,
automated payments, PAYE filing, labour costing, automated general ledger
entries and digital employment contracts.
www.paysauce.com