Pushpay (NZX:PPH) gets US Army Chaplain Corps as customer, shares rise

Highlights

• Pushpay gets a new customer in the US Army Chaplain Corps.
• The Chaplain Corps will use Pushpay’s software and apps solutions.
• It is one of the largest software agreements for Pushpay.

Pushpay Holdings Limited (NZX:PPH, ASX:PPH), which is a software and services company providing donor management services, announced today (October 6, 2022) that it had acquired the US Army Chaplain Corps as a new customer. According to the agreement, the US Army Chaplain Corps will use a tailored Pushpay software and apps solution for its ministries.

As per the update, this would be the largest software agreement for Pushpay, and it would enable the US Army Chaplain Corps to improve communication and connect with soldiers through mobile solutions across 51 garrisons.

US Army Chaplains are religious leaders who support, motivate and guide soldiers across all faiths. It includes more than 1,000,000 active and retired soldiers.

The organisation actively uses prevailing technologies to provide religious services and spiritual guidance to US soldiers.

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FY22 performance

While announcing its FY22 earlier, the company said while PushPay’s FY22 operating environment was affected by COVID-19 pandemic-induced travel restrictions and pressure on labor and salaries, the shift to technology was a positive for the company. The operating revenue grew by 13% to NZ$202.8 million, exceeding US$200 million for the first time. Gross profit was also up 14% to US$138.4 million. Underlying EBITDA increased by 8% from US$57.8 million to US$62.4 million during the year. A positive cash flow generated US$61.5 million in operating cash flows.

Word from management

Pushpay CEO Molly Mathews said that he was delighted to welcome the new customer to Pushpay’s communities across the world. He further said that that was the first kind of collaboration and the first step toward its long-term strategy to expand to public service organisations.

On the other hand, Information Technology Program manager of the US Army Chaplain Corps said that Pushpay’s partnership would help in supporting the ongoing community revitalisation efforts to strengthen the bond between soldiers and families through increased virtual communication.