Story image

Pushpay revenue climbs as US churches sign up for service

08 Jul 15

Pushpay Holdings, the mobile payments app developer, boosted revenue 39 percent in the first quarter as growth in its US faith-based merchants offset a decline in its SMS business. 

Total annualised committed monthly revenue was $12.8 million at June 30, up from $9.2 million three months earlier, the Redmond-based company said in a statement. Merchant ACMR, which tracks its clients who use the PushPay system to collect money, rose 69 percent to $9 million, while its Run the Red ACMR fell 2.4 percent to $3.7 million. 

Pushpay is targeting the US faith sector for growth where there are more than 314,000 churches with an average 500 attendees each. The company aims to push merchant numbers above 2,000 by its Sept. 30 half-year mark, and those client numbers climbed 42 percent to 1,416 in the three month period ended June 30. 

The company raised $13.8 million in April, via a pro-rata non-renounceable entitlement offer with eligible shareholders offered 1 new ordinary share for every 14 shares already held. A portion of the funds were used to repay outstanding debt under the Christopher & Banks standby facility. As at June 30 the company had $13.84 million in cash and available funding, up from $4.32 million three months earlier. 

Last month the company migrated to the NZX main board from the small cap NZ Alternative Index. Pushpay shares fell 2.4 percent to $4. 

52mil users affected by Google+’s second data breach
Google+ APIs will be shut down within the next 90 days, and the consumer platform will be disabled in April 2019 instead of August 2019 as originally planned.
GirlBoss wins 2018 YES Emerging Alumni of the Year Award
The people have spoken – GirlBoss CEO and founder Alexia Hilbertidou has been crowned this year’s Young Enterprise Scheme (YES) Emerging Alumni of the Year.
SingleSource scores R&D grant to explore digital identity over blockchain
Callaghan Innovation has awarded a $318,000 R&D grant to Auckland-based firm SingleSource, a company that applies risk scoring to digital identity.
IDC: Standalone VR headset shipments grow 428.6% in 3Q18
The VR headset market returned to growth in 3Q18 after four consecutive quarters of decline and now makes up 97% of the combined market.
Spark Lab launches free cybersecurity tool for SMBs
Spark Lab has launched a new tool that it hopes will help New Zealand’s small businesses understand their cybersecurity risks.
Preparing for the future of work – growing big ideas from small spaces
We’ve all seen it: our offices are changing from the traditional four walls - to no walls. A need to reduce real estate costs is a key driver, as is enabling a more diverse and agile workforce.
Bluetooth-enabled traps could spell the end for NZ's pests
A Wellington conservation tech company has come up with a way of using Bluetooth to help capture pests like rats and stoats.
CERT NZ highlights rise of unauthorised access incidents
“In one case, the attacker gained access and tracked the business’s emails for at least six months. They gathered extensive knowledge of the business’s billing cycles."