Payment provider Pushpay (ASX:PPH) has announced it has surpassed its US$100 million annualised committed monthly revenue (ACMR) target by US$6.4 million, achieving US$106.4 million in ACMR to 31 December 2017, an 84 per cent increase over the year.
Pushpay’s CEO Chris Heaslip said this is a significant milestone for the company, with Pushpay remaining in a position to reach its target FY2018 NZ GAAP revenue guidance of US$70 million and break even on a monthly cashflow basis to the end of the 2018 calendar year.
Over the year to December 2017, Pushpay’s proportion of ACMR derived from large customers increased to 57 per cent from 51 per cent a year earlier.
The company’s customer base increased by 17 per cent to 7,190 over the year, and also increased its staff numbers in New Zealand and the US by 345 people.
Pushpay intends to pursue a US market listing this calendar year.
Shares in Pushpay (ASX:PPH) are trading 0.25 per cent lower to $3.98.