Highlights
-- 51% year-on-year growth in H1 sales revenue to $11.1m – new record
-- $12.3m total half year revenue – new record
-- 113% year-on-year growth in H1 processing revenue to $9.1m – new record
-- Strengthened balance sheet with net assets up nearly 370% on prior half
-- Increasingly transactional revenues to benefit from leveraging Novatti’s now global operating base
-- $40m+ capital raise for new growth strategy – focus turned to delivery
-- ATX acquisition has since been completed, after the end of the half
-- Expansion of Ripple partnership in South East Asia
-- Well progressed on launch of payments solution for Reckon Limited, seeking value-add for its 114k users
-- Increasingly positive on near-term bank licence decision – with $10.5m funding committed subject to regulatory approval
Novatti Group Limited (ASX:NOV) (Novatti or Company), a leading fintech enabling businesses to pay and be paid, is pleased to provide an update on its performance for the first half of FY22.
Commenting on the results, Novatti Managing Director, Peter Cook, said:
“The first half of FY22 saw Novatti continue its consistent 50%+ growth rate, with two consecutive quarters of record revenue resulting in combined H1 sales revenue of $11.1m and total revenue of $12.3m. It is worth putting this growth in perspective – our first half sales revenue is now greater than Novatti’s total sales revenue for FY20, just 18 months ago, highlighting the strong growth journey we are on.”
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