INDEPENDENT NEWS

PaySauce Grows Recurring Revenue by 96%

Published: Wed 15 Jan 2020 11:16 AM
Wellington, New Zealand, 15 January 2020 - SaaS employment solutions provider PaySauce (NZX:PYS) continues to deliver strong year-on-year growth, with total recurring revenue1 up 96% for Q4 2019. The number of employees in New Zealand being paid through PaySauce payroll software increased by 114% to 13,349 people. The number of payslips issued grew 106% to 98,443, and total employers processing pays through PaySauce payroll increased by 108% to 2,434. The gross payroll value processed by PaySauce for the quarter totalled $160.3 million, an increase of 120%.
Key Metrics[1] Q4 2019 Q4 2018 % YOY
Change Total recurring revenue[2] NZD $461.4K NZD $235.4K 96% # Employees (at end of qtr) 13,349 6,227 114% # Payslips (total for qtr) 98,443 47,814 106% # Payroll customers (at end of qtr) 2,434 1,171 108% Gross value of payroll processed NZD $160.3M NZD $73M 120%
CEO and co-founder of PaySauce, Asantha Wijeyeratne, reflects on the quarter: “It’s safe to say we ended the year on a high note, being named by Deloitte as one of the fastest-growing tech companies in the Asia-Pacific region, and hitting another milestone of $2M ARR based on December monthly revenue. While the majority of our customers come from the agriculture sector, this quarter has seen our customer base diversify across a range of rural industries. We’re really excited to be heading into 2020 with a renewed focus on partnerships and customer experience.”

Next in Business, Science, and Tech

COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy
By: Statistics New Zealand
Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate
By: Joint Press Release
Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea
By: Ministry For Primary Industries
New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand
By: IDC New Zealand Ltd
Whale-watching By Satellite – Follow Their Travels Online
By: University of Auckland
Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million
By: Commerce Commission
Public Transport Distancing Requirements Relaxed
By: Ministry of Health
New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs
By: New Zealand Hemp Industries Association Inc
One In 14 Employed People Report High Risk Of Losing Jobs
By: Statistics New Zealand
ASB Quarterly Economic Forecast Shows NZ Economy Doing Better Than Expected, But Challenges Remain
By: ASB
Successful Bridge Repair Opens Two Additional Lanes To Traffic
By: New Zealand Transport Agency
Engineers Assess Damage To Auckland Harbour Bridge After Truck Strike
By: NZ Transport Agency
Motorists Urged To Avoid Damaged Auckland Harbour Bridge
By: NZ Transport Agency
Harbour Bridge: Public Transport A Great Option And Plan Ahead
By: Auckland Transport
Second Harbour Crossing Needed Now, More Than Ever
By: New Zealand National Party
View as: DESKTOP | MOBILE © Scoop Media