PaySauce Quarterly Market Update - June 2024

PaySauceprovesthewholesaleopportunity
LowerHutt,NewZealand-2July2024
KEYYEAR-ON-YEARPERFORMANCEHIGHLIGHTSFORQ1FY25
●
ExecutedtheProofofConcept(POC)forwholesalepayrollusingournew
Gen2.0engine
●
ARRof$8.2m(Up18%YoY)
●
Recurringrevenueof$2.1mforthequarter(Up20%YoY)
●
Processingfeerevenueof$1.5mforthequarter(Up18%YoY)
●
Customersatendofthequarter-7,611(Up7%YoY)
MetricJun2024YoYIncrease
ARR$8.2m18%
Recurringrevenue(forthequarter)$2.1m20%
Processingfeerevenue(forthequarter)$1.5m18%
Customers(processedinJun2024)7,6117%

AlongsidetheworkontheGen2.0payrollengine,PaySaucehascontinuedto
growitscustomerbaseontheexistingplatform,withcustomernumbersup7%
YoYto7,611.
RecurringrevenueforQ1FY25isup20%YoYat$2.1m,withprocessingfees
contributing$1.5m(18%).Interestrevenuefromfundsheldonbehalfofcustomers
isup26%YoYto$0.6m.
CEOAsanthaWijeyeratnesaid:“It’sbeenanincrediblybusyandexcitingquarter.
Hotofftheheelsofannouncingourmaidenprofit-we’vecompletedtheProofof
ConceptforwholesalepayrollwiththeGen2.0payrollengineandI’mimmensely
proudofwhattheteamhavedelivered.Iamalsoverygratefultotheorganisation
thatworkedwithustoprovetheconcept.ThisworkisapivotalpieceofPaySauce’s
futuregrowthjourneyandactivelymanagesourrisksaroundpotentialtechnical
debt.
“We’vealsobeenfocusedongrowingourcustomerbaseontheexistingplatform-
doublingdownonourSalesandMarketingeffortstogaintractionintheNew
Zealandmarketinnewverticals.Aucklandisaterritorythatisunder-represented
forPaySauce,andourcurrentcampaignistargetingtradies.
INVESTINGFORLONG-TERMGROWTH
Thewholesalepayrollproofofconceptprovedthecapabilitytointegrateintothird
partysoftware,withalltestobjectivessuccessfullydelivered.
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Wijeyeratnesaid:“Wearedelightedtohaveachievedthissignificantmilestone
andwewillcontinuetocapitaliseontheinternalbenefitsfromthecompletionof
theGen2.0payrollengine.Thefirstimplementationwillunifythecustomerswe
acquiredaspartoftheSmoothPayacquisitionintoasinglesolution.
“PaySauceremainsexcitedbytheopportunitiesonofferfornewandexisting
customersandwecontinuetoworktowardsanaccelerationofgrowthaswe
target$10millioninARR.”Wijeyeratnesaid.
ENDS
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Theidentityoftheorganisationremainsconfidential

ABOUTPAYSAUCE
PaySauceisaSaaSfintechplatformprovidingsolutionsforpeopleatworkin14
jurisdictionsacrosstheAsia-Pacificregion.Thetechnologyenablessmall
employerstodigitallyonboard,payandmanageemployeesfromanydevice.The
platformincludesrosters,mobiletimesheets,payrollcalculations,banking
integration,automatedpayments,PAYEfiling,labourcosting,automatedgeneral
ledgerentriesanddigitalemploymentcontracts.ThePayNowfeatureenables
customers’employeestoaccessthepaythey’veearnedbeforepayday,providinga
freealternativetopaydaylenders.
www.paysauce.com
CONTACT
AsanthaWijeyeratne
CEOPaySauce
+6421554600
Pleasedirectanyinvestmentqueriestoinvestor@paysauce.com