Pushpay posts stellar earnings report; will it reflect in its shares?

Summary

  • Pushpay Holdings reported stellar earnings despite challenges due to COVID-19.
  • Pushpay reported a 40% increase in its operating revenue for the year ended 31 March 2021.
  • The company’s net profit after tax (NPAT) almost doubled from US$16.0 million to US$31.2 million.

Pushpay Holdings Ltd (ASX:PPH) on Wednesday reported stellar earnings on account  of operational efficiencies across combined business despite challenges due to COVID-19. For the year ended 31 March 2021, Pushpay reported a 40% spike in its operating revenue, surging from US$127.5 million to US$179.1 million.

Pushpay’s total revenue reported a 39% rise to US$181.1 million, while F clocked a massive 133% surge for the year ended 31 March 2021, increasing to US$58.9 million.

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The company almost doubled its net profit after tax (NPAT), boosting it by 95% from US$16.0 million to US$31.2 million. The operating cash flow surged by US$34.1 million over the year ended 31 March 2021, from US$23.5 million to US$57.6 million, an increase of 145%.

Source: ©Webking  | Megapixl.com

FY21 guidance achieved

Over the financial year ended 31 March 2021, Pushpay upgraded EBITDAF guidance several times. The company with a strong track record of achieving its fiscal guidance since its listing in the year 2014, said that it has delivered on guidance with EBITDAF of US$58.9 million for the 2021 financial year.

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What company says

 

Commenting on the financial results, Molly Matthews, CEO, said that with the significant progress in integrating the Pushpay and Church Community Builder solutions achieved over the 2021 financial year, the company welcomed many new customers, successfully realised strategic cross-selling opportunities within the customer base and achieved operational efficiencies across the combined business.

The financial results were reflective of the company’s innovative products, the dedication of the teams in the US and New Zealand, and the culture of continuous improvement, Matthews added.

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Pushpay’s strong performance throughout the 2021 financial year demonstrated the adaptability of its customers and the team despite the challenges faced worldwide from COVID-19, he noted.

Source: ©Webking   | Megapixl.com

Stock performance

On Tuesday, 11 May 2021, the stock of Pushpay closed at AU$1.50, down 0.045 points, 0r 2.92% as against the previous closing on Monday, 10 May 2021. Pushpay competes with Afterpay (ASX:APT), WiseTech Global Ltd (ASX:WTC), Zip Co Ltd (ASX:Z1P) and Xero (ASX:XRO), among major stocks in the tech sector.

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