Splitit Reports Double Digit Growth in Merchant Sales Volume

  • Jan 31, 2020 AEDT
  • Team Kalkine

Splitit Payments Ltd (ASX:SPT) has provided an outline of its quarterly activities for the three-month period to 31 December 2019. Q4FY19 was a record quarter for the company, with Merchant Sales Volume (MSV) of more than US$27 million (A$39M), driven by strong holiday sales and new merchants signing up to Splitit’s solution.

  • Revenue declined by 7% to US$433K with an additional US$71K of revenue from Q4 MSV from funded plans to be recognised in Q1FY20;
  • 12 Month Active Merchants reached 386, an increase of 17% on previous quarter, mainly due to strategic focus on merchants with higher Average Order Value with a stronger product-market fit.

At AEDT 12:54PM, the stock was trading at $0.615 per share, down by 10.219% from its previous close.

 

 

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