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Unaudited Trading Update for the Year Ended 30 June 2017
Earthport is pleased to provide an unaudited trading update for the fiscal year ended 30 June 2017 (“FY 2017”).
Financial Highlights
- Revenues grew by approximately 33% to £30.3 million (FY 2016: £22.8 million)
o Approximately 90% of the revenue growth was driven by the existing client base
o Transactional revenues comprised 95% of FY 2017 total revenues
- Adjusted gross profit increased by approximately 30% to £20.7 million (FY 2016: £15.9 million)
- Adjusted gross margin decreased by approximately 2% to 68% (FY 2016: 70%)
- Administrative expenses decreased approximately to £25.5 million (FY 2016: £25.8 million), representing 84% of revenues (FY 2016: 113%)
- Adjusted EBITDA loss decreased by approximately 65% to £2.4 million (FY 2016: £6.9 million)
- Cash Balance at 30 June 2017 amounted to £11.9 million, compared to £14.4 million at 30 June 2016
Operational & Transactional Highlights
- Monetary value of transactions processed increased by 48% to $17.5 billion (FY 2016: $11.8 billion)
- Record number of transactions at approximately 11 million, up 67% (FY 2016: 6.6 million)
o Earthport’s payments processing platform continues to perform at a 99.9% “up-time” rate, ensuring virtually uninterrupted service for our clients
- A total of 143 new opportunities, inclusive of existing and new clients, are currently in the commercial pipeline
- Total of 10+ new countries in our Network pipeline
- Executed payments across 193 destination countries, in 49 currencies
- Average revenue per transaction of £2.64 (FY 2016: £3.12)
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EXCLUSIVE: “Stable & Secure?” – Simone Loefgen, Commerzbank in ‘Discover Sibos 2025’
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CBI Drives Verification of Payee Compliance in Italy
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Lastro Secures $15M Series A Led by Prosus Ventures to Scale its AI Agent, Empowering Over 2M Homebuyers
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EXCLUSIVE: “Scaling Safely – Without Debanking” – Imam Saygili, Flagright in ‘The Fintech Magazine’
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APIs Driving Embedded Finance Innovation
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