Jayride Group Accomplished Expansion Milestone In 13 New Countries

Jayride Group Accomplished Expansion Milestone In 13 New Countries

The Sydney-based Jayride Group Limited (ASX: JAY), incorporated in 2012, operates an e-commerce marketplace which enables users to compare airport transfers, both shared and private, then book online at fixed prices. Primarily, the platform provides a seamless channel for travellers to connect directly to more than 3000 transfer companies, that implement the jayride.com APIs to sell ground transport facility and add incremental ancillary revenue to their businesses. 

There are a plethora of services available at more than 1000 airports worldwide (including more than 500 international airports) across Australia, United Kingdom, New Zealand, Ireland, United States of America and others.

Adding momentum to its international growth pace, Jayride has announced the launch of its services across 13 new countries in Asia Pacific, Europe and the Caribbean. The additional coverage comprises Fiji (2 airports), Cambodia (3 airports), India (26 airports) in Asia Pacific; Sweden (16 airports), Norway (12 airports), Denmark (4 airports), Iceland (2 airports), Finland (9 airports) in Europe; and Dominican Republic (7 airports), Barbados (1 airport), Jamaica (2 airports), and Curacao (1 airport) in the Caribbean region. The recent expansion milestone includes 86 new airports, 119 new companies resulting in a vast market reach to all prominent airports in 44 countries and billions of customers.

For the FY2018 ended 30TH June, the company exhibited sustained uptrend and reported cash outflows from operating activities at AUD 3.97 million, cash outflows from investing activities at AUD 1.55 million and cash inflows from financing activities at AUD 8.34 million. In total, the cash and cash equivalents were positively higher at AUD3.56 million as compared to AUD 767,190 in previous FY2017.

In August 2018, Jayride accomplished its Pre-IPO capital raising drive of AUD 8 million to facilitate funding of new technology platform, which was launched in Q2 2018 and boosts business development activities. In Q3 January 2018, the company successfully debuted on the Australian Stock Exchange (ASX) as JAY after completing an IPO raising of additional AUD 1.5 million. Following the move, there was a 28% quarter-on-quarter rise in its Revenue from Commissions Fees booked for Passenger trips, which is Jayride’s primary performance indicator, to AUD 633,000 at the end of Q3 2018, which further rose to AUD 740,000 at the end of Q4 2018.

Jayride has a market capitalisation of AUD 35.34 million and around 80.33 million outstanding shares on ASX. The JAY stock has a 52-week high of AUD 0.540 and a 52-week low of AUD 0.300 since its listing. With the close of the trading session on February 5th, 2019, the shares of JAY stock were trading at AUD 0.450, up by 2.273% indicating an intra-day gain of AUD 0.010 with approximately 34,329 volume of shares traded.

In 2018, the company swiftly built a strong position for the future. Going forward, the company aspires to scale up extensively in the existing destinations and penetrate potential new markets every month amidst the growing popularity of mobility as a service and growing preference for door-to-door services.


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