Pushpay targets Merchant ACMR of $100m within 36 months

Pushpay targets Merchant ACMR of $100m within 36 months

Auckland, New Zealand | Redmond, Washington, USA – 13 August 2015

Pushpay Holdings Limited (NZSX:PAY) (‘Pushpay’ or ‘the Company’) announces that the Company’s Merchant Annualised Committed Monthly Revenue (ACMR)1 has reached $10 million. Pushpay increased its Merchant ACMR from $1 million to $10 million in less than 10 months.

This rapid growth is classed as “Hyper-Growth” by Software as a Service (SaaS) expert, Jason Lemkin.2 Hyper-Growth is defined as growing from $1 million to $10 million of annual recurring revenue in five quarters or less.

Pushpay’s Chief Executive, Chris Heaslip said, “We are proud to have reached this milestone of increasing our Merchant ACMR from $1 million to $10 million in less than 10 months. By way of comparison, Xero reached the same growth in around 23 months. Our payments solution has been well received in the US, which has led to Pushpay achieving best in class growth momentum in a short period of time and a strong foundation from which to realise its potential at scale.

“We are now looking to our next target of increasing our Merchant ACMR to $100 million which we are confident in reaching within the next 36 months. Pushpay remains committed to delivering best-in-class SaaS metrics as the Company continues to execute on its strategic plan, driven through a keen focus from management and the teams coordinated across our USA and New Zealand operations.”

1 Annualised Committed Monthly Revenue (ACMR) – ACMR is all annualised recurring revenue, plus bookings for future recurring revenue, minus revenue that the Company is likely to lose within the year. ACMR is a key metric to track how a SaaS business is acquiring revenue.

Merchant ACMR - Annualised Committed Monthly Revenue derived from Pushpay’s Merchants, a ‘Merchant’ is a business or organisation that utilises Pushpay’s payment platform to process electronic transactions.

2 http://www.saastr.com/gadi-shamia-coo-of-talkdesk-8-things-i-learned-after-joining-a-hyper-growth-saas-startup/

To download the Pushpay App, visit the iTunes App Store or Google Play and search for “Pushpay”.

Visit www.pushpay.com to learn more and see an online demonstration of how Pushpay enables merchants and consumers to “never miss the moment”.

ENDS

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