Moneyme (ASX:MME) shares zoom on strong fourth quarter results

2 min read | July 25, 2022 03:34 PM AEST | By Ritwika

Google News:

Moneyme (ASX:MME) shares zoom on strong fourth quarter results — Image source: Image source: © Thinglass | Megapixl.com

Recent News

ASX Miners Lift Payouts as Reporting Season Delivers

Woodside climbs as oil shock stirs takeover chatter: The Shift Few Are...

Uranium names surge as Australia-India deal lands

Gold Miners Steady After Sharp ASX Retreat This Week

Make Kalkine Media
My Trusted Source

Highlights:

Moneyme shares gained over 27% around 12:51 PM AEST on the ASX today.

The diversified financial firm shared its FY22 fourth quarter results today, showcasing a positive cash profit.

Moneyme’s gross revenue has gone up more than 190% in Q4FY22, as compared to the previous corresponding period.

The ASX-listed diversified financial firm Moneyme Limited (ASX:MME) released the trading updates for Q4 FY22 and ended on 30 June 2022. Moneyme managed to deliver a positive cash profit in H2 FY22 as well, along with H1 FY22.

On the other hand, Moneyme’s shares outperformed ASX today. The company’s share price jumped by 27.205% and traded at AU$0.865 per share at 12:51 PM AEST on the ASX today (25 July).

Key highlights of Moneyme’s trading updates of Q4FY22:

For Moneyme, FY22 was a period of resilient revenue and receivables growth.

The company’s gross revenue was over AU$$55 million in the given period, which increased by more than 190% compared to the previous corresponding period.
Moneyme’s contracted revenue in Q4 FY22 was worth AU$398 million, up by 306% compared to the prior corresponding period.
The company’s gross customer receivables gained by 366% from the previous corresponding period to AU$1.4 billion in Q4 FY22.
Autopay managed to secure an asset finance balance of AU$0.5 billion, up by 7000% from the previous corresponding period.

In FY22, Moneyme’s revenue jumped to AU$138 million, up by 138% from the prior corresponding period. The strong revenue was driven by the company’s organic growth after including the revenue from SocietyOne over AU$15 million from the date of acquisition (15 March 2022).

Furthermore, the online consumer lending firm is expecting to deliver over AU$200 million of revenue in FY23.

Clayton Howes, Managing Director and CEO, Moneyme, believes that the company’s agility during challenging market conditions is what makes it a strong consumer lender. Moneyme’s innovation-driven business model gives it the edge to recalibrate quickly to support the delivery process of profitable returns.

Moneyme’s share price performance on the ASX:

In last 12 months, Moneyme’s share price declined by more than 61% on the ASX. Furthermore, on Y-T-D-basis, share price fell over 62% (as of 1:51 PM AEST on the ASX today, 25 July).

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.