Smartpay Holdings Limited Analysis

Overview

SmartPay Holdings Limited is the NZX listed Company Trading as Smartpay ("NZX:SPY") which is an innovative merchant services company providing merchants with the opportunity to better market themselves, increase revenue or save costs.

SmartPay delivers a range of managed merchant services allowing merchants to deal with one organization but realize many benefits.

The SmartPay offer to merchants uses the latest technology to bring them a range of services that is unmatched by any other single company.

Smartpay listed in March 1987.

Performance

The following information was extracted from SmartPay Holdings Limited's half year results, released 25 November 2024:

• Revenue $50.8m, an 8% increase on the prior year $46.9m
• Australian acquiring transactional revenue:
• $41.5m, a 9% increase on the prior year $38.2m
• Monthly acquiring revenue grew to $7.3m per month
• Normalised EBITDA* $7.9m**, a decrease on the prior year $10.6m**
• Australian transacting terminal fleet grew to 20,000+ at 30 September 2024, 18,400+ at March 2024
• Net debt of ($2.8m)****, prior year net cash of $2.2m

Operating Results

Financial highlights include revenues of $50.8m, normalised EBITDA* of $7.9m**, and normalised net loss before taxation of ($0.2m)**.

Overall revenues were $50.8m, up 8% on the prior year of $46.9m with our Australian revenues the key driver. Australian acquiring transactional revenues grew to $41.5m, a 9% increase on the prior year.

Normalised EBITDA* was $7.9m**, a decrease of 26% on the prior year of $10.6m***, reflecting measured investment in ongoing growth and the development of our New Zealand payments products, building additional solutions for customers across both Australia and New Zealand and modernising and strengthening our business platforms and infrastructure.