2024 Annual Meeting Addresses and Presentation

Annual Shareholder Meeting
19 SEPTEMBER 2024

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●The information in this presentation is of a general nature and does not constitute financial product advice, investment
advice or any other recommendation. Nothing in this presentation constitutes legal, financial, tax or other advice.
●This presentation should be read in conjunction with, and is subject to PaySauce’s Annual Report, market releases and
information published on PaySauce’s website - www.paysauce.com
●This presentation may contain forward looking statements about PaySauce and the environment in which PaySauce
operates, which are subject to uncertainties and elements outside of PaySauce’s control - PaySauce’s actual results or
performance may differ materially from these statements. PaySauce gives no warranty or representation as to its future
financial performance or any future matter.
●This presentation may include statements relating to past performance, which should not be regarded as a reliable
indicator for future performance.
●This presentation may include information from third parties believed to be reliable; however, no representations or
warranties are made as to the accuracy or completeness of such information.
●While reasonable care has been taken in compiling this presentation, none of PaySauce nor its subsidiaries, directors,
employees, agents or advisors (to the maximum extent permitted by law) gives any warranty or representation (express
or implied) as to the accuracy, completeness or reliability of the information contained in it, nor takes any responsibility
for it. The information in this presentation has not been and will not be independently verified or audited.
●No person is under any obligation to update this presentation at any time after its release to you or provide you with
further information about PaySauce.
Please refer to the Glossary for definitions of key metrics used in this presentation.
All currency amounts are in New Zealand Dollars unless stated otherwise.
Disclaimer

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Shelley Ruha
Non-Executive Director
(Independent), Chair
Michael O’Donnell
Non-Executive Director
(Independent)
Board of Directors
Mark Samlal
Non-Executive Director
(Independent)
Gavin Thompson
Non-Executive Director
(Non-Independent)
Jim Sybertsma
Non-Executive Director
(Independent), ARC Chair
VOTEVOTE
Asantha Wijeyeratne
CEO & Co-Founder, Director
(Non-Independent)

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Executive team
Jaime Monaghan
Chief Financial Officer
Asantha Wijeyeratne
CEO & Co-Founder
Jess McLean
Chief Product Officer
Mat Stokes
Chief Operating Officer
Troy Tarrant
Co-Founder & CTO
Jacques Labuschagne
Chief Technology Officer
Until 30 Sep 2024
From 1 Oct 2024
Until 30 Sep 2024
From 1 Oct 2024

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Agenda
Chair’s Address
CEO’s Address
Financials
Resolutions
Other Business & Shareholder Questions

Shelley Ruha

Chair’s Address
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We delivered on our strategic objectives
We reinvested for long term growth.

We obsessed over our customers.

We strengthened and developed win-win-win partnerships.

We attracted and retained awesome people.

Asantha Wijeyeratne
CEO’s Address
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1.Net profit after tax
2.Before funds due to customers and IRD
FY24 Highlights: delivered maiden net profit

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FY25 Strategy: foundations for sustainable growth

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Jaime Monaghan
Financials

* after $1.022m deferred tax asset recognition
**excludes funds due to customers and the IRD, collected in performing our role as a PAYE intermediary
FY24 ($000s)FY23 ($000s)Change
Net profit after tax*1,232(558)1,790
Total recurring revenue7,5705,715 32%
Cost to Serve(1,747)(1,569)11%
Gross margin %77%73%4pp
Customer Acq, R&D, Gen & Adm(4,808)(4261)13%
Earnings before tax, depr & amort1,064(80)1,142k
Free cash flow**296(645)941k
Rule of 40 score4667-21
1212
FY24 results: delivered our maiden net profit (1)

Positive free cash flow of $0.3m for
March 2024 increased by $0.9m
year on year.
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*excludes recognition of a deferred tax asset of $1m. Including the deferred tax asset
revenue increases the net profit to $1.2m - an improvement of $1.8m year on year.
Inverted the gap between revenue and expenses
to deliver an improvement of $0.8m* in the
bottom line to a net profit after tax of $0.2m* for
the year.
FY24 results: delivered our maiden net profit (2)

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Recurring revenue grew 32% YoY to
$7.6m for the year ended 31 March 2024
as a result of:

●Increased customer numbers;
●Additional revenue from existing
customers; and
●Increased interest earned on funds
held on behalf of customers.

Annualised recurring revenue (ARR) grew
19% YoY to $8m as at 31 March 2024.
$7.6m
Up 32%
We grew recurring revenue 32%

Interest

Processing Fees

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We grew in FY24, but at a slower rate
than in previous years due to:
●Market penetration in our primary
(dairy) sector earlier than
anticipated
●Targeting of new verticals is still in
its infancy
●We chose to focus our
development efforts on our future
payroll platform (Gen 2.0) rather
than new features for the existing
customer base
●Our target market of employers
with 1-5 employees were impacted
financially by the high interest rate
environment.
7% year on year growth of new customers
SmoothPay
Acquisition
(+1,400)
7,368 up 7%

*excludes software impairments and software development time capitalised to the balance sheet as an asset during the year. Total research & development
costs, including software development time capitalised, increased 12% YoY ($0.2m) from $1.8m to $2m.
FY24 ($000s)FY23 ($000s)ChangeChange
Cost to Serve1,7471,56917811% ￪
Customer Acquisition766709578% ￪
Research & Development*934991(57)(6%) ￪
General & Administration3,1082,56154721% ￪
Interest expense97613659% ￪
Depreciation, Amortisation & Impairment87449837676% ￪
Total expenses7,5266,3901,13618% ￪
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We reinvested for long term growth

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We grew total customer lifetime value by 23%
Higher average revenue per customer due to price
increases and higher interest rates.

Cost to serve each customer decreased as
investments into systems and tooling begin to deliver
increased efficiencies and scalability.
Challenging economic environment made acquiring
new customers more difficult, increasing Customer
Acquisition cost.

Customer churn increased slightly, as businesses
failed or removed staffing requirements.

Increase in customers to 7,368 and customer lifetime
value to $5,890 per customer resulted in a 23%
increase in total customer lifetime value to $43.4m
*PaySauce changed the methodology in how it recognises customer activity during the period.
Refer to the annual report for full details on the impact on comparative customer metrics.

Recurring Revenue
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Interest

Processing Fees*
$2.1M( 20% YoY)
for Q1 (June) FY 2025

June 2024 quarter: growth continued at slower
rate
*Net customer growth of 243 during the quarter.

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Outlook: Targeting $10m ARR
We will supercharge customer growth by:
●leveraging the technical improvements we’ve made to deliver more features and
benefits for customers and accountants
●being hyper-focused on our target market - customers employing 1-5 employees
●nurturing relationships with new and existing accountants to make PaySauce their
first choice for their clients
●unifying our platform to create one optimised experience for all customers
●utilising AI where appropriate to build scalable processes
●cementing the relationships with construction partnerships through deep
understanding of their members’ needs

Shelley Ruha

Resolutions
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FOR
AGAINST
ABSTAIN
Resolution A
That James Sybertsma be elected
as a Director of PaySauce.

James Sybertsma
Non-Executive Director
(Independent), ARC Chair

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FOR
AGAINST
ABSTAIN
Resolution B
Having retired, that Gavin Thompson
be re-elected as a Director of PaySauce.

Gavin Thompson
Non-Executive Director

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Resolution C
That the Board is authorised to fix
the fees and expenses of Grant
Thornton as the auditor of
PaySauce.
FOR
AGAINST
ABSTAIN

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General Business
The meeting is now open to
any general questions
?

Thank you!
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Recurring Revenue: Recurring revenue is revenue that is expected to repeat each period into the future. For PaySauce, this is directly linked to the number of customers, their size, and the
number of pays they run using the PaySauce payroll products. There are currently two sources of recurring revenue - processing fees and interest income.

ARR: The total recurring revenue for the last calendar month of the reporting period, multiplied by 12.

ARPU (monthly): Average revenue per user (monthly) is the total recurring revenue for the month, divided by the total customers processing payroll that month.

Gross margin: When discussed as a SaaS term, is the recurring revenue of the business, less the cost to serve customers. This is often then expressed as a percentage, where the gross margin
is divided by the recurring revenue.

Churn (monthly): Churn is expressed as a percentage calculated as the net reduction of customers in a calendar month divided by the total customers at the start of that month.

LTV: Lifetime value is the estimated value of a customer over its lifetime with PaySauce. This is calculated by taking the monthly ARPU multiplied by the gross margin percentage, then
divided by the monthly churn percentage.

Total Customer LTV: Total customer lifetime value is the lifetime value multiplied by the total customers.

LTV : CAC: This ratio reflects the return on investment for customer acquisition. It is calculated by dividing the lifetime value of a customer by the customer acquisition cost (per addition).

Rule of 40: The rule of 40 provides a balanced measure of two key metrics for SaaS businesses: growth and profitability. PaySauce uses the combination of recurring revenue growth, and
EBTDA to assess against this measure.

Free cash flow: Free cash flow is a measure that demonstrates the net cash generated by, and invested into the business. PaySauce defines free cash flow as cash flows generated from
operating activities less cash flows used for investing activities (excluding funds held on behalf of customers).

EBTDA: Earnings Before Tax, Depreciation and Amortisation is calculated by adding back depreciation, amortisation and income tax expense to the amounts reported in the NZ IFRS-based
financial statements. PaySauce believes that this measure provides useful insights to measure the performance of PaySauce as a SaaS business.

Note - the terms and metrics above are Non-Generally Accepted Accounting Principles (non-GAAP) measures and should not be viewed in isolation, not considered substitutes for
measures reported in accordance with New Zealand Equivalents to International Financial Reporting Standards (NZ IFRS). Refer to the PaySauce Annual Report for further information.

Glossary
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2024AnnualMeetingAddresses
LowerHutt,NewZealand-19September2024
Chair’sAddress
2024wasatransitionalyearforPaySauce.Wedeliveredourmaidennetprofitaftertax,
positivecashflowandsuccessfullyexecutedthestrategiesthatwillenableustodeliver
anaccelerationofgrowthanddrivethelong-termsustainabilityofourbusiness.
ReinvestingforLong-TermGrowth
InF24,ourprimarystrategicobjectivewastoreinvestforlong-termgrowth.Achieving
cashflowself-sufficiencyplacedusinaprivilegedpositiontoreinvestinareascrucialfor
PaySauce’slong-termvalue—oursoftware.Wemadetwopivotaldecisionsthatshaped
ourpathforward.First,weembarkedonbuildingabrand-newpayrollenginetopowera
unifiedpayrollplatformforallPaySauceproducts,includingwholesalepayroll.Second,
westrengthenedourexistingtechstacktofacilitatefuturetechnicalandsecurity
enhancements.
Thenewpayrollenginewassuccessfullybuilt,andwesignedoffaproofofconceptwith
athirdpartytoembedpayrollintotheirproduct.Althoughcompetingtechprioritiesfor
theclientpreventedthisfromevolvingintoamulti-yearsalescontract,thenewengine
remainscriticaltoourfuturegrowthplans.Ourfocusonstrengtheningtheexistingtech
stackwasalsosuccessful,andIampleasedtoreportthatwehavemigratedall
PaySauceandgoPayrollcustomerstoAWS.
Thesestrategicchoicesimpactedourcapacitytodelivernewfeaturesforourexisting
customerbase,resultinginaslowerrateofnewcustomeracquisition.However,our
platformisnowinastrongerpositiontoreduceoperationalmaintenanceandenable
fasterproductdevelopmentmovingforward.
CommitmenttoExistingCustomers
Whileasignificantportionofourfocushasbeenonreinvestingforlong-termgrowth,
wededicateddevelopmentresourcestoenhanceourservicedeliverybyinvestinginour
SalesforceCRMsolutionandupskillingourtalentedcustomerserviceteam.This
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commitmenthasbeenrewardedwithincreasedcustomeradvocacy,asevidencedby
ourNPSgrowingfrom48inMarch2023to58inMarch2024.
Wehavealsoengagedwithindustrybodiestogrowourpresenceandbrandawareness
inthetradesandconstructionverticals.Oursalesteamhasfocusedoncustomer
acquisitionthroughaccountingpartnerchannels,addingnewpartnersandexpanding
ourcustomerbasewithexistingones.
GovernanceandLeadership
Turningtogovernance,wearethrilledtowelcomeJamesSybertsma(Jim)totheboard
thisyear.Withover25yearsofexperienceinfinancialleadershiprolesacrossvarious
industriesandcompanysizes,fromstart-upstoscale-ups,Jimbringsawealthof
expertise.Pendingelectiontoday,Jimwillcontinuetobringhiscommercialperspective
totheboardasChairofPaySauce’sAuditandRiskCommittee,ensuringourfinancial
andriskreportingframeworkscontinuetoevolveasweexecuteourgrowthstrategy.
OutlookandGratitude
Theboardandmanagementremainconfidentaboutthecompany’sprospects.While
thecurrenthigh-interestrateenvironmentisexpectedtodropintheshortto
medium-term,forPaySauce,muchofthefutureinterestislockedinathigherdeposit
ratesforthenext6to12months.Theforecastedinterestratedropisdrivingincreased
businessconfidence,andweanticipategrowthfrombothnewbusinessesstartingand
existingbusinessesexpandingtheirheadcount.Weareexcitedabouttheabilityofthe
Gen2.0payrollenginetoimprovethecustomerexperienceforourexistingandnew
customers,andwillassessanyfuturewholesaleopportunitiesastheyarise.
Onbehalfoftheboard,IwanttothankthePaySauceteamfortheirdedicationoverthe
pastyear.Toourshareholders,thankyouforyourtrustandcontinuedsupport.
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CEO’sAddress
FY24wasalandmarkyearforPaySauce,generatingourmaidenprofitaswellaspositive
cashflowsfortheyear.ThiswasahugemilestoneforPaySauce,andformepersonallyas
it’ssomethingthat’sbeenaverycleargoalofminesincestartingthecompanyallthose
yearsago.
Aswellasourmaidennetprofitof$1.2m(or$0.2mbeforerecognitionofadeferredtax
asset)andfreecashflowgeneratedof$0.3m,wealsogrewourAnnualisedRecurring
Revenue(orARR)19%yearonyearto$8m.Wesurpassedtheruleof40forasecondyear
runningat46whichisabovetheindustrybenchmarkandakeymetricthatmanytech
businessesarestrivingforinthesetoughereconomictimes.Asthismetricindicates-
growingrevenueandgeneratingpositivecashflowatthesametimeplacesusina
privilegedpositionwherewe’reinchargeofourowndestinyaswestrivetowardthe
nextbigstepsinourstrategy.
AsShelleymentioned-reinvestingforlongtermgrowthwasoneofthekeyobjectivesof
ourstrategyforFY24,particularlyintoProduct&Development.Weaddedseveralkey
rolesduringtheyearaswebolsteredourProduct&Developmentteam.Jacques
LabuschagnejoinedtheteamasHeadofDelivery,leveraginghispreviousexpertiseto
improvethedisciplineandstructureinourdevelopmentfunction.Thisexpertisehas
givenmyco-founder,Troy,theconfidencetoretirefromthedailyoperationsofthe
company,andhandovertheroleofChiefTechnologyOfficertoJacques.Asmy
co-founder,TroywasourfirstdeveloperandIremaininaweofhisabilitytostandupa
market-fitproductinrecord-breakingtime.Ifitweren’tforTroy,noneofuswouldbein
thisroomtoday.Troyremainsthethirdlargestshareholderandanardentsupporterof
PaySauce.
ItwasTroy’svisiontosplitintosquadstofocusworkintotwostreams,thefirst:delivering
theGen2.0payrollengine,andthesecond:continuingtoimprovetheexistingproduct
supportingthecurrentcustomerbase.Overall,wegrewourProduct&Development
Teamby50%,includingspecialistDevOpstalentandmoredevelopmentcapability.
MigratingthePaySauceproductionserversandback-endtoolstoAmazonWebServices
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(AWS),willallowustoscalequicklyandgiveustheflexibilitytooffercontinuousproduct
upgrades.
Thelongtermfocushasmeantthatwehaven’treleasedasmanynewproductsand
featuresforourcustomersduringtheyearaswehavedoneinpreviousyears.Despite
thisandthetougheconomicconditionsfacedbybusinessesrecently-we’vestill
continuedtogrowourcustomerbaseontheexistingplatform,addingover1,500
customersinFY24.We’vedoubleddownonourSalesandMarketingeffortstogain
tractionintheNewZealandmarketinnewverticals-morerecentlyinAucklandasa
territorythatisunder-representedforPaySaucewithourcampaigntargetingtradies.
WealsocontinuedtodevelopourrelationshipwithMasterBuildersandMaster
Plumbers,aswellasotherwellknownbrandsaroundtheindustry,andwecontinuedto
growourpresenceintheconstructionandtradesspacebothattendingandpresenting
atconferences,roadshowsandseminarsnationwide.
WealsogrewourSalesteamandcontinuedtoleveragethetrustthatbusinesseshave
withtheiraccountants,hittingboththephysicalandvirtualpavementsastheteam
broughtonmorethan50newaccountingfirmstoourpartnershipprogramme,whoin
turnreferredmorethan600payingcustomersinFY24.
Lookingtotheyearahead-we’rebuildingonthefoundationsoftheproduct,people
andpartnershipadvancementsthatwe’vemadeinthislastyear,whichwillpowerour
go-forwardstrategyaroundLovingourCustomers,SuperchargingGrowthandBuilding
forScale.
LovingourCustomersstartswithdefiningourtargetcustomersasthosewith1-5
employees.Byunderstandingtheuniquechallengesthatfacethesesmallbusiness
owners,wewillgivethemthetwothingstheyneedthemost:peaceofmindandtime.
Ourcustomersareourstrongestadvocatesandourmosteffectivemarketingchannel.
SupercharginggrowthiscriticalforustoattractnewcustomerstoPaySauce.Atthe
beginningoftheyear,we’denvisagedthisgrowthfromawholesaleopportunity,which
hasn’teventuated.Overthenext18months,we’llleveragetheGen2.0payrollengineto
createabettercustomerexperienceforourcoretargetmarket.We’llcontinueto
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engagethirdpartieslookingtoembedawholesalepayrollsolutionintotheir
technology,andassesstheseastheyarise,butforthetime-being,we’veprioritisedour
corecustomerbaseofemployerswith1-5employeesoveractivelyseekingnew
wholesalepayrollcustomers.Buildingaunifiedproductthatdelightsbothournewand
existingcustomerswithnewwebandmobileuserinterfacesisakeystepinwinningthe
productbattleinthepayrollspace.Marketingcampaignswillcontinuetoincreaseour
brandawarenessandshowsmallbusinessesthatweunderstandthem.Developingnew
andexistingpartnershipswithindustrybodiesandtrustedadvisorslikeourAccountant
channelwillcontinuetobeafocusaswelooktonurtureourexistingbusiness,andgrow
newbusinesswithinthesechannels.
Scalabilityissignificantlycloserwiththeinvestmentmadelastyeartoensurewecan
supportcustomergrowthinasustainableway.Fromonboardingnewcustomers,to
providinganintuitive,self-servicepayrollexperiencetoensuringthatbackend
processesarepoweredbyreliabletoolingwiththeoptimallevelofhumaninput.
Financials
We’reveryproudtohavedeliveredourmaidennetprofitaftertax.Therecognitionofa
milliondollardeferredtaxassetinflatedthatvaluefrom$0.2munderlyingNPATto$1.2m
onthefaceoftheaccounts.Importanttonotethatapproximately$1.5moffurther
deferredtaxassetsareavailabletorecogniseinfutureasappropriate.
AsaSaaSbusiness,theunderlyingNPATresultishighlycorrelatedtofreecashflow.The
$941kimprovementinFY24ledtopositivefreecashflowinFY24of$0.3m.
The32%increaseinrecurringrevenuecamefrombothprocessingfees(14%)and
interestincome(18%).Theincreasedinterestincomecontributedtothe4basispoint
improvementinthegrossmarginto77%forFY24.Furthermore,processimprovements
andefficiencygainsmadethisyearandinpreviousyearscontinuetoreducetheimpact
thatourgrowingcustomerbasehasonourcoststoservethosecustomers.Theruleof
40scoreremainsabovethebenchmark,buthasdeclined21points.Thatmetricisa
combinationofthegrowthrateandtheprofitabilityandthedownwardmovementis
drivenfromtheARRgrowthrate.We’lldrillintotherevenuebreakdowninacoupleof
slides
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Puttingthecurrentyear’sresultintocontextofthelastfouryearsisbestillustratedin
charts.Inthesetwocharts,youcanseethatwe’veconsistentlyincreasedrevenueata
fasterratethanwe’veincreasedcosts,andtheimpactonfreecashflowhasresulted.
Ourinvestmenthasbeendeliberateandstronglycorrelatedwithpositioningour
businessforlong-termefficiency,ratherthanimmediateshort-termgains.
Theincreasedfreecashflowenabledustosettlethe$650kbankloaninJune2024,
replacingitwithamuchlowerworkingcapitalfacility.
Totalrecurringrevenuegrew32%from$5.7mto$7.6minFY24,fromprocessingfee
revenuegrowthof17%(or$0.8m)onlastyear,andinterestrevenuegrowth,up96%(or
$1.1m)onlastyear.TherevenuegrowthfromprocessingfeesslowedinFY24,asour
customerswereimpactedbyhighercostsresultingfromthehigherinterestrates.This
formsanaturalhedgeforPaySauceandweanticipatethatwewillseeincreased
processingfeesfromnewandexistingcustomersasthoseinterestratesdrop,offsetting
therevenueimpactofthedecliningyieldfrominterestearnedoncustomerfunds.
Drillingdeeperintothecustomernumbers,thedeclineintherateofgrowthisevident
fromthechart.Weattributetheslowdowntofourprimaryfactors:
●
Wereachedmarketpenetrationinourprimarysector(dairy)earlierthan
anticipated;
●
Marketingactivitiestargetingnewverticalshavecommenced,butthere’salong
runwaytogainingtractionfromnew
●
Wemadeaconsciousdecisiontofocusourdevelopmenteffortsonthefuture
payrollplatform,ourGen2.0payrollengine,ratherthannewfeaturesinour
currentplatformtoattractnewusers;and
●
Ourtargetmarketofemployerswith1-5employeesfoundtheimpactofthe
higherinterestrateschallengingandreducedtheirappetiteforadditional
expense
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Ourexpensesgrew18%yearonyear,by$1.1mto$7.5mfortheyear.$0.7mofthis
increasewasintopeoplecosts-withemployeeexpensesgrowingfrom$3.7minFY23to
$4.5minFY24.
BreakingdownourkeySaaScategories-ourlargestcostisgeneralandadministration
costs-thisgrewprimarilyasaresultofinvestmentintoourpeopleasweaddednew
hiresandmanagedwageinflationacrosscriticalbackofficefunctionsinfinance,
management,peopleexperienceandoperations(increaseof$547kyearonyear-21%).
OurR&DcostgrewwithseveralnewhiresincludinganewHeadofDeliveryrole,
specialistDevOpstalent,andadditionalsoftwaredevelopers(increaseof$218kyearon
year-12%).Thisinvestmentalsoledtoanimprovementinefficiencieswithintheteam-
reducingtheproportionoftimespentmaintainingtheproductrelativetotimespent
developingtheproduct.Theimpactincreasedthepercentageofdevelopertime
capitalisedby7percentagepointsfrom49%to56%inFY24.
CosttoServeincreasedprimarilyduetowageinflationanddirectcostsduetoincreases
incustomernumbers-ourcustomersupportheadcountremainedthesameand
absorbedtheincreaseincustomercountasaresultoftheinvestmentmadeinto
improvedsystems,toolsandprocesses(increaseof$178kyearonyear-11%).
CustomerAcquisitionincreasedprimarilyduetosplittingthesales&marketing
functionsintotwowithspecialisttalent.Investmentintodigitalmarketingremainedlow
-adeliberatechoiceasweprioritisedbuildingandnurturingrelationshipswithourkey
partnerchannel-Accountants.(increaseof$57kyearonyear-8%).
Thecustomerlifetimevalueisakeymetricwemonitortounderstandeachstageofthe
customer’sjourneywithPaySauce.Averagerevenueperuserincreased11%to$91per
monthandthecosttoservethosecustomersreduced6%to$21peruserpermonth.
Theimprovementinmarginperuserwasslightlyoffsetbya3%YoYreductioninthe
averagelifetimeofacustomer,asaresultofincreasedchurnrates.Churnrateshave
increasedasmoreofourcustomershaveeitherstoppedemployingstafforgoneoutof
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businessaltogetherasthey’vefacedeconomicchallenges.Thesefactorscombinedhave
ledtoanincreaseincustomerlifetimevalue(CLTV)of15%yearonyearto$5,890per
customer.
Acquiringnewcustomerswasalsomorechallengingthisyearwiththecostof
acquisition(CAC)percustomerincreasing24%yearonyearto$510percustomer.That
cost’sequivalentto5.5monthsofrevenuepercustomerwhichislowrelativetoindustry
benchmarks.Thetotalcustomerlifetimevalueof$43.4misderivedbymultiplyingour
averagecustomerlifetimevaluebytheclosingnumberofcustomersat31March2024,
beinga23%yearonyearimprovementonthepreviousyear.
Sincethe2024AnnualReportwasreleased,wehavereleasedamarketupdateshowing
thetoplinerevenuenumberstoJune2024.Inthatperiod,wegrewrecurringrevenue
20%yearonyearto$2.1mforthequartertoJune2024.Ofthis,therewasan18%yearon
yeargrowthinprocessingfees,contributing$1.5m,withinterestrevenuecontributing
theremaining$0.6m.
Thequarterlytrajectoryshowsthetotalvalueofquarterlyinterestincomehasgrown
moreinlinewithprocessingfeesoverthelastyear,particularlyrelativetotheprevious
year.Lookingforward,weanticipatetheproportionofinterestrevenuerelativetototal
revenuetodeclineslightly,butwithafasterincreaseinprocessingfees.
Outlook
Thekeychallengeforusistoacceleratecustomergrowth.Weunderstandthechallenge
andwe’vesetourselvesuptobeabletoaddressthat.Theeffortoverthelast18months
tostrengthenourplatformhaspositionedustodelivermoreimprovementstomore
customersfaster.
We’vegotaclearmarketthatwe’rebuildingfor-employerswith1-5employees.The
Productteamishyper-focusedonthethosecustomersandhasclearprioritiestobuild
solutionsthatmeettheirneedsandtheneedsoftheiraccountants.
We’llcontinuetonurtureourrelationshipswithAccountants,listeningtothemto
understandtheirclientsneedstoensureweoffertheirclientsvalueformoneywhile
givingthemthetwothingstheyneed-peaceofmindandtime
We’llnurtureandevolvetheindustrypartnershipswe’veformed,beingfrontofmindfor
futureclients,andclearlyunderstandingtheircollectiveneeds.
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We’llpauseseekingnewwholesaleopportunitiesuntilwe’veutilisedourgen2.0payroll
enginetodeliverabeautifulmobileexperienceforcustomers
Overall,I’mveryhappythatthegroundworkhasbeencompletedtoenableustodeliver
thecustomerbenefitsthatwilldriveourfuturegrowthandI’mlookingforwardtothe
opportunitytoshareournextquarterlyupdatewithyouearlyinOctober.
ENDS
PaySauceisaSaaSfintechplatformprovidingsolutionsforpeopleatworkin14
jurisdictionsacrosstheAsia-Pacificregion.Thetechnologyenablessmallemployersto
digitallyonboard,payandmanageemployeesfromanydevice.Theplatformincludes
rosters,mobiletimesheets,payrollcalculations,bankingintegration,automated
payments,PAYEfiling,labourcosting,automatedgeneralledgerentriesanddigital
employmentcontracts.ThePayNowfeatureenablescustomers’employeestoaccess
thepaythey’veearnedbeforepayday,providingafreealternativetopaydaylenders.
www.paysauce.com
CONTACT
AsanthaWijeyeratne
CEOPaySauce
+6421554600
Pleasedirectanyinvestmentqueriestoinvestor@paysauce.com
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