PayGroup limited (ASX: PYG) has released its 1H FY2020 results for the period ended 30 September 2019. It is progressing towards delivering $17.5 million pro-forma ARR (Annual recurring revenue) in FY2020.
- Revenue increased by 17.8% to $3.4 million as compared to 2H FY2019.
- New contracts worth $2.8 million signed during the period across SwaS, SaaS, and treasury services.
- Client revenue retention stood above 96%.
Achievements post 1H FY2020 end-
- Completed the acquisition of Astute One Limited on 14 November 2019.
- Successfully raised $3 million capital on 19 November 2019 to support business growth and integrate Astute’s acquisition.
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