PPH - PushPay (Church/donor software.) [Archive]

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Harvey Specter

03-04-2014, 03:19 PM

Another potential listing, probably on the NZAX:

http://www.nbr.co.nz/article/pushpay-mobile-app-venture-raises-51mln-plans-small-cap-listing-bd-154146

Not sure if there will be an IPO or just a pre-listing round followed by a compliance listing (lie GEO).

steve fleming

16-06-2014, 09:19 PM

I reckon SparkytheClown would quite like this company

Shame he is no longer around to comment on it

percy

16-06-2014, 09:33 PM

I reckon SparkytheClown would quite like this company

Shame he is no longer around to comment on it

Yes, A great shame he is no longer here to comment .As you point out I think too think he would have liked it.He certainly would have spoken to management and given us the good oil.!
Wonder what he is up to? Retired like Phaedrus,cruising the cannels of Southern France,perhaps?

sommelier

14-08-2014, 10:32 AM

"The company has prepared forecasts which indicate that the $2,778,910 of cash generated as a result of the post year end capital raising, cash flows from operations and raising a further $9,000,000 of additional capital subsequent to year end will enable the company to continue operating for the foreseeable future, which is not less than 12 months from the date these financial statements are approved.
"
Sweet, at least 12 months before the next capital raising. $1.6m loss on $316k revenues makes it look similar to the first years of SNK, VML, except they are worth <$20m and this is worth $50m...

Harvey Specter

14-08-2014, 11:10 AM

What was the pre-IPO round priced at? $1?
I assume this is just a compliance listing with no new shares offered?

Edit: found it. July round was at $1, the April round was at 58c and the rounds before that were various but none less than 26c

Harvey Specter

14-08-2014, 11:43 AM

A few buyers, no sellers. I guess a quick 33% return isn't enough.

Shore

14-08-2014, 12:55 PM

Must be missing something with this one... won't this company get squashed like a bug if Apple decide to turn iPhones into a fully fledged payment device (as they are heavily rumored to do). How will an app like this survive when the very functionality they provide will embedded into the iPhone?

Schrodinger

14-08-2014, 01:08 PM

Anyone read the prospectus. Bruce Gordon's bio is fascinating. I cant say Ive seen a prospectus like this one before.

Also note that its valued near SKO which is silly although I agree its worth more than twice RAK.

Shore

14-08-2014, 03:40 PM

:t_up: Two trades totaling $4k adds another $24m in market cap.

Harvey Specter

14-08-2014, 03:47 PM

:t_up: Two trades totaling $4k adds another $24m in market cap.
Its almost worth trading with yourself for those sort of returns!

Zaphod

15-08-2014, 06:14 PM

Yes. And not just be Apple. There are many in the mobile space trying to turn the mobile into a wallet.

Just possible, but extremely unlikely, that the bug won't get squashed but instead taken over.

I agree; I think an acquisition is the most likely long-term outcome for this company, given the number of providers of this type of service. Some consolidation is inevitable.

whatsup

03-09-2014, 05:03 PM

Sloooooowly coming back to earth, still way over priced imo.

robbo24

02-10-2014, 06:47 PM

Is this company so closely held that it is illiquid? Is it so awesome that nobody wants to sell? Or to the contrary with no buyers?

Just had a bit of a laugh trying to do some TA on this stock when it's only had about six trades since listing lol :D:D:D:D:D

I see there is an announcement about quite a well known client, God: https://www.nzx.com/companies/PAY/announcements/256024

More interestingly, and perhaps showing my lack of knowledge of wtf this company even does, is a case study about what PushPay is doing for God: http://www.renewedvision.com/store.php?item=pushpay

$29US per month plus $1US for every God botherer who registers to pay his or her tithe. Perhaps a stick in the sand for someone who understands God botherers and how much money PushPay can make from this.

Strong US$ could be lucrative. I wonder if Westboro Church will sign up? :D:D:D:D:D

robbo24

02-10-2014, 07:12 PM

Different websites give me different total numbers of US churches/places of religious worship... Seems to be between 350,000 and 450,000.

If a few of them signed up, plus the $1 each attributed to the 146,663,972 God botherers (in 2009, see page 15 of this Yearbook of American and Canadian Churches (http://www.cokesbury.com/digitalstore/subscription/9780687466863.pdf)) in the US, then PushPay might be onto something quite spectacular if it takes off.

percy

02-10-2014, 07:18 PM

The mind boggles.
I know of sharetraders who use their mobile appliances to buy shares during agms,but I would love to see all the good flock hitting their PAY appliance friendly phones during a rousing hellfire and damnation sermon."Come on brothers,hit the buttons now to save your soles,or forever live in purgatory,this includes you brother robbo24"!!! .

robbo24

02-10-2014, 07:20 PM

Believe in PushPay and you will find peace.

percy

02-10-2014, 07:32 PM

Believe in PushPay and you will find peace.

Did you find The Lord on the way??

robbo24

02-10-2014, 08:49 PM

Did you find The Lord on the way??

Kind of. The Heavens opened up and I heard a voice saying:

Dilute the shares on issue by a factor of 10 and it will be more appealing to the every day "tradie."

Crystal Ball

02-10-2014, 08:51 PM

Did you find The Lord on the way??

Haha, wonder if Huljich had godly intentions when he got heavily involved in this company. Or do you think that he figured all the godbotherers would buy into this easy way to pave their way with pennies up the stairs to the pearly gates.....

percy

02-10-2014, 09:49 PM

Haha, wonder if Huljich had godly intentions when he got heavily involved in this company. Or do you think that he figured all the godbotherers would buy into this easy way to pave their way with pennies up the stairs to the pearly gates.....

I am sure he had Godly intentions!!

I ran into the brother of a friend of mine a couple of years ago.Nice guy,bit of an entrepreneur, selling cardboard coffins.
He felt the way to true wealth was to start a new religion.Seems, the more you sin,the more it costs to repent.With the growing number of sinners, I think he was on the right track.!!

airedale

03-10-2014, 10:09 AM

I heard that they are looking to list on the main board soon, or soonish.

Crystal Ball

03-10-2014, 10:43 AM

I heard that they are looking to list on the main board soon, or soonish.

Wonder what that will do to the share price. Not much depth- 1 buyer and 2 sellers only...and not much activity over the last couple of weeks....

Harvey Specter

03-10-2014, 10:44 AM

Wonder what that will do to the share price. Not much depth- 1 buyer and 2 sellers only...and not much activity over the last couple of weeks....They shouldn't be allowed onto the main board without liquidity. The NXT will be better for them as the market maker will provide liquidity (somehow???).

robbo24

03-10-2014, 11:40 AM

Wonder what that will do to the share price. Not much depth- 1 buyer and 2 sellers only...and not much activity over the last couple of weeks....

It will probably do very little to the share price in my view.

It is intriguing that there is such a small number of trades after a listing on the market.

By comparative standards to, say, Snakk Media (SNK) one might surmise that the lack of directors/chairpeople/substantial holders selling out and/or "donating their shares to a charity" is a sign of confidence.

It just makes me wonder what is the point of listing at this stage if the stock was going to be so illiquid - other than raising capital of course. Although, capital could have been raised (again) without listing.

Twitter that.

Crystal Ball

07-10-2014, 01:15 PM

It will probably do very little to the share price in my view.

It is intriguing that there is such a small number of trades after a listing on the market.

By comparative standards to, say, Snakk Media (SNK) one might surmise that the lack of directors/chairpeople/substantial holders selling out and/or "donating their shares to a charity" is a sign of confidence.

It just makes me wonder what is the point of listing at this stage if the stock was going to be so illiquid - other than raising capital of course. Although, capital could have been raised (again) without listing.

Twitter that.

Hmmmm, don t do twitter......

robbo24

12-10-2014, 09:20 PM

Crystal Ball

12-10-2014, 09:23 PM

I see PushPay made another announcement the other day about an agreement with NZ Post (https://nzx.com/companies/PAY/announcements/256134).

A flurry of trading followed, resulting in increased volumes of 2000 shares changing hands.

Saw that, not a huge amount traded though and again lack of buyers and very few available to buy..... Weird stock.

BFG

31-10-2014, 04:43 PM

December is coming up. Be very interesting to see if PAY has reached the 600 forecasted by end of year it had in the prospectus. Hopefully we should see a sales report sooner rather than later to see how this company is tracking!

Crystal Ball

31-10-2014, 08:31 PM

penn

31-10-2014, 08:46 PM

Have you seen the depth of Meridian Instalment reciepts on the Asx? 2 buyers 2 sellers, yesterday there was one buyer no sellers (and I may or may not have been one of them) ?

BFG

31-10-2014, 09:23 PM

Is there any way anyone can justify the current mCap?

Schrodinger

01-11-2014, 09:24 AM

Is there any way anyone can justify the current mCap?

Nope. The world gets stranger I just realised Facebook paid $22b for WhatsApp who turn over $10m so any things possible.

What I find interesting is how global they can make this business. Being successful in small niche markets in the US can provide scale but I think due to the large competitors this will be a successful regional play and not become global. Will be interesting to watch as niche markets in the US can still be very profitable.

BFG

01-11-2014, 10:11 AM

Food for thought there Schrodinger.

HY report November 14. I shall be watching :)

BFG

13-11-2014, 08:14 AM

HY out tomorrow. I'm expecting them to be closing in on the 600 clients by December number cited in the prospectus. Going to get interesting if they exceed this target.

Am I just speaking to myself on here or is anyone else following MAAAAYYYNNNN? :D :D :D :D

BFG

14-11-2014, 09:35 AM

Looks like I am only talking to myself!

Half year is out. Some great growth going on, losses increasing as well as per other SaaS companies. Some good names sigmed up to Run The Red Program.

No debt & $5.5M at bank to keep growing. Suspect a cap raising to the public will be needed next year.

On track to have 600+ clients by December and break even by 1250 clients, but this depends whether the company goes for growth or profitability.

I shall continue watching with interest.

Disc - not holding

BFG

05-01-2015, 10:22 AM

Retention Rate - Pushpay’s annual revenue retention rate(excluding upsells into the existing Merchant base) continued to exceed 95%.This is in line with Diligent who are considered class leaders.
Huge growth- 2013 HY revenue to September was $90,000. In2014 it was $1,613,000, a growth rate of 1700%. This is, of course, off a very lowbase, but even a growth rate of half that would be massive. ARPM in June 2014was approximately $235 per Merchant per month, with ARPM expected to increaseto over $300 per month over the medium term.
Choice of path – PAY has the ability to either go down theXero (growth at cost of profits) or the Diligent route (profitability, butslower growth). The current idea is that the company will be cashflow positiveafter 1250 clients are signed up, which will be achieved in Q2-Q3 of 2015.However, the company has signalled it would rather forego earnings in order togrow faster (Xero route). Cash in bank is standing @ $5M+.
Margins – Should be 70 to 80% within two years of listingand with client numbers above 2000.
Niche market – Only 4% of global commerce was done viamobile, presenting a 96% opportunity. The company currently has operations inNZ, Australia and the USA. The USA is the biggest market target by far and is targeting314,000 separate church organisations, 1,600,000 non-profits and 5,600,000 SMEs.The company is also looking to target Canada and the UK in the near future, whichadd other massive growth opportunities.
Good backers – PushPay has major shareholders in Chistoperand Peter Huljich (think PEB), Bruce Gordon with many years of electronicpayment knowledge at BNZ and Doug Kemsley who built CA-Systems from scratch andsold it to MYOB in 1999 for $22,000,000.

babymonster

10-01-2015, 07:50 AM

Sounds pretty good to me. I might buy some.

BFG

10-01-2015, 02:36 PM

Sounds pretty good to me. I might buy some.

One caveat - do a market cap to revenue analysis, THEN make a decision ;)

I understand results will be out this week so you will have more info to play with then. I expect them to outperform their estimates (600 clients by December was forecasted)

silverblizzard888

10-01-2015, 04:53 PM

Based on a number trend model where I used the numbers available on the interim report, I came up that they would have to make about $9.8 million dollars in revenue to breakeven based on current method of expenditure. Purely just for fun on my part, numbers may be different realistically. I don't know how long it would take them to get to that, but compared to the MCAP it kind of scares me away. The minute they fail to deliver amazing growth numbers they won't be worth that much, too much value on that potential. If I compare it to other companies like VML who like them have a similar risk factor, but for VML they have a much smaller MCAP and just as much potential. Those numbers for Pushpay don't stack up in my books.

Don't get me wrong its good potential this company has, but its no Xero. In my view businesses always need accounting work to be done so they go out of their way to get Xero as compared to its competition it was something much more effective both in skill and cost, but where as payment methods there is plenty available and I'm not sure people will go out of their way to get the app, some will, but some won't. They have achieved great revenue growth for now, but if I was to place a value on this company 40-50 million is more realistic for me until I see otherwise. Thats my 2 cents and well I am working on limited information too, but we'll see, reminds of a once a upon a time there was Geo OP.

BFG

10-01-2015, 04:59 PM

Breakeven is seen as 1250 clients, but I doubt this will happen as they will choose to chase growth rather than become profitable.

silverblizzard888

10-01-2015, 05:05 PM

As I mention the number I came to was based on current expenditure, so it factors in their growth chasing motives, a company like this will never settle down in cost for the short and medium term anyway, so I prefer not to see it as all they need is 1250 customers to breakeven, but more how much they need to make while still chasing customers to breakeven. Such an investment would test my patiences too much. In the short run price may go up, but unless they deliver in the long run I don't have much to keep these shares in the cupboard and wait. Just to bare in mind I come from a value point of view, not a day traders)

Baa_Baa

10-01-2015, 05:35 PM

By 'clients', does that mean 'merchants' (churches, charities, businesses) who register to receive payments (are 'acquired') and whose ticket is clipped by Pushpay for each payment transaction to them, or 'payers' who download the mobile app and make payments to the merchants that Pushpay has acquired - or both?

The business model requires growth in both merchants and payers. The more merchants, the more likely there will be payers who choose the app. Their focus should be heavily towards acquiring merchants.

On the other hand, all the churches, charities and businesses who could become merchants have already been 'acquired' by banks. I think is it a big ask to take on the banking and payments sector, particularly as said sectors have also realised the requirement to aggressively move into mobile payments platforms.

It's all very well to develop a payments platform and isolate it from mainstream payments systems and banks, and even to acquire merchants who will get on board to diversify their payment sources, however it is a far more difficult proposition to convince people to download another app that helps them part with their money ... particularly when any online/mobile banking app can and does do the same thing - for any merchant and any payer, not just the merchants that Pushpay are able to acquire.

I don't see this business model being based on humungous growth and world domination of mobile payments, I see it as positioning for just sufficient scale that the business might be attractive to another organisation looking for a closed payments system, i.e. one not controlled by mainstream payments providers and banks. That or be bought by a bank, perhaps.

I also think, fwiw, that there is no way the current SP can be justified at current levels. Happy to hear other views on whether it is though.

LegendOfRiot

10-01-2015, 06:19 PM

Although the implementation of Apple Pay in NZ is going to be slow, it'll eventually be commonplace. Are there any immediate benefits of pushpay, compared to the lure that Apple seems to have on partnering with big banks at the moment?

BFG

11-01-2015, 09:37 AM

With regards to ApplePay (and a host of other payment options), those technologies and tools are aimed at point-of-sale. EG, Walmart, Target, supermarkets etc.

Pushpay on the other hand, is aimed at non-point-of-sale. This, in the main, means churches and charities for Pushpay. However, there is other non-point-of-sale uses that could include enterprise (think of paying utility bills, particularly where you are a late payee), or where you might have an ongoing relationship with a merchant, such as a plumber, personal trainer or similar.

You would never use Pushpay to pay for your new kettle at Briscoes.

If ApplePay picks up in NZ, then it will be in places like Briscoes, Farmers, Starbucks, and Countdown. It is a product designed for payments to a merchant integrated with a cashier system that tabulates a sum. It’s not a donation tool, or a means by which companies recover costs from clients. It doesn’t do bank account withdrawals either, just credit cards.

Big differences here, just like when everyone was worried about Mobile Embrace (MBE.AX) being taken out by ApplePay. Not going to happen!

LegendOfRiot

11-01-2015, 10:26 PM

BFG

12-01-2015, 10:48 AM

Those who visit the Pushpay website will see that one of the divisions of the company is “eChurchGiving”. This is the division of Pushpay which is the greatest focus of the company for sales at present.

https://pushpay.com/echurch

A video that can be linked to from the eChurchGiving pages is this one - which sums up the Pushpay proposition very well - http://vimeo.com/103174354

This is material aimed at Church Pastors, so for someone with no church connections is might seem a little alien, but it is perfectly aimed at the decision makers in a faith based organisation.

There are a lot of Vimeo testimonials from happy clients at this page too - http://echurchgiving.com/?utm_source=Pushpay-com

BFG

13-01-2015, 11:31 AM

Mr Huljich has been bumped up to the Board of PushPay. Hello!

bmrm

13-01-2015, 11:36 AM

Mr Huljich has been bumped up to the Board of PushPay. Hello!

I am speechless, how anyone would let this guy on a board is beyond me.

Harvey Specter

13-01-2015, 11:37 AM

Mr Huljich has been bumped up to the Board of PushPay. Hello!Hello! Isn't it just replacing one Huljich for another (a position held (in part) due to their significant shareholding?).

klid

13-01-2015, 04:47 PM

Trying to buy the shares and they won't let me. Reckon I can only put an order on for $2.56 at most. $0.01 above the highest bid??
Seems like they're doing the manipulating rather than me.

BFG

14-01-2015, 10:24 AM

Interesting price action this morning. A few bids filling up the spread as well as 5 bids up to $2.85 (being filled at $2.75). This is a very tightly held stock and if things get exciting (I'm expecting an announcement soon as per mid-January update in last report) then this thing could get legs fast.

Hey, if GeoFlop can rocket 100% in a week with the terrible metrics it has, who says this thing can't with its huge growth and way bigger revenue numbers???

BFG

14-01-2015, 10:25 AM

Trying to buy the shares and they won't let me. Reckon I can only put an order on for $2.56 at most. $0.01 above the highest bid??
Seems like they're doing the manipulating rather than me.

You aren't with ASB are you? They are in the stone age with the NZAX...

Harvey Specter

14-01-2015, 10:47 AM

You aren't with ASB are you? They are in the stone age with the NZAX...I beleive they have come out the the stone age (now allow internet trading for NZAX) just as the NZAX is about to be disestablished (for NXT).

BFG

14-01-2015, 11:27 AM

I beleive they have come out the the stone age (now allow internet trading for NZAX) just as the NZAX is about to be disestablished (for NXT).

Haha figures. We're still miles behind the rest of the world in every regard anyways. Got to love monopolies eh?

BFG

14-01-2015, 11:28 AM

See if we can push above $2.80 (all time high) today. $3.00 up next (psych resistance). Who knows after that...

klid

14-01-2015, 11:37 AM

You aren't with ASB are you? They are in the stone age with the NZAX...

Yeah I am and yes they allow it now online (NZAX). I tried to buy at $2.75 and they rejected it, called me and said that I cannot just change the price 10% like that. The "operator" isn't happy.

I was all like ummmm what!!? It had been trading at that level previously until a little $2.50 yesterday, and there is an announcement today, no trading, and all I am trying to do is match the lowest ask.

Tried to put it a bid at $2.65 and rejected; phone call; same thing. I'm then told I can only set it at $2.56. I don't bother because that's just dumb.

Now today $2.75 are gone and I didn't do it. Yeah not very happy.

Schrodinger

14-01-2015, 11:41 AM

See if we can push above $2.80 (all time high) today. $3.00 up next (psych resistance). Who knows after that...

Any ideas on why the market cap has gone beyond reality and into fantasy land?

The market is pricing in a sure thing. It would be highly risky to buy in at these levels. MC should be around the $10-$25m levels..

nextbigthing

14-01-2015, 12:04 PM

Any ideas on why the market cap has gone beyond reality and into fantasy land?

The market is pricing in a sure thing. It would be highly risky to buy in at these levels. MC should be around the $10-$25m levels..

Exactly.

The scary thing is it may still go way further. Look at Xero or geoop.

robbo24

14-01-2015, 12:41 PM

Exactly.

The scary thing is it may still go way further. Look at Xero or geoop.

Too late in the day for that type of carry on, in my opinion.

This stock is so illiquid anyway... Listed by way of compliance listing (http://www.msn.com/en-nz/money/markets/shaw-huljich-join-pushpay/ar-AA85uu4) - i.e. no capital raised.

Someone's going to have to sell down in order for the shares to get out and about, at this point anyway.

Now, why would any current holders possibly want to sell down? :D

We all know what BFG, snapiti and NBT say about sell-downs by important holders and positions within a company... :D

Schrodinger

14-01-2015, 12:49 PM

Too late in the day for that type of carry on, in my opinion.

This stock is so illiquid anyway... Listed by way of compliance listing (http://www.msn.com/en-nz/money/markets/shaw-huljich-join-pushpay/ar-AA85uu4) - i.e. no capital raised.

Someone's going to have to sell down in order for the shares to get out and about, at this point anyway.

Now, why would any current holders possibly want to sell down? :D

We all know what BFG, snapiti and NBT say about sell-downs by important holders and positions within a company... :D

This is a great candidate for shorting when the restrictions come off. Any ideas on brokers that allow shorting in NZ?

robbo24

14-01-2015, 01:04 PM

This is a great candidate for shorting when the restrictions come off. Any ideas on brokers that allow shorting in NZ?

Intraday shorting is easy, just sell shares you don't have and buy them back before the end of the day.

BFG

14-01-2015, 01:31 PM

Intraday shorting is easy, just sell shares you don't have and buy them back before the end of the day.

Do you even INTRADAY?!?!

BFG

14-01-2015, 01:32 PM

Yeah I am and yes they allow it now online (NZAX). I tried to buy at $2.75 and they rejected it, called me and said that I cannot just change the price 10% like that. The "operator" isn't happy.

I was all like ummmm what!!? It had been trading at that level previously until a little $2.50 yesterday, and there is an announcement today, no trading, and all I am trying to do is match the lowest ask.

Tried to put it a bid at $2.65 and rejected; phone call; same thing. I'm then told I can only set it at $2.56. I don't bother because that's just dumb.

Now today $2.75 are gone and I didn't do it. Yeah not very happy.

That's pretty horrendous. How dare you move the market more than .5% at a time klid!!!

BFG

14-01-2015, 05:28 PM

Buoyed by the likes of other SaaS companies like DIL & WYN making a come back today, and with sells thin on the ground I wouldnt be surprised if $3.00 was tested very soon :)

robbo24

15-01-2015, 08:37 AM

Buoyed by the likes of other SaaS companies like DIL & WYN making a come back today, and with sells thin on the ground I wouldnt be surprised if $3.00 was tested very soon :)

You are a total Jekyll and Hyde.

On the one hand, you spend inordinate amounts of time on the PEB thread haranguing people with your loosely concocted "fundamental analysis."

Yet on the other hand, you try to pump up a loss making company with an mCap of $137m which far exceeds any realistic calculations or growth.

Be realistic - there's 50 million shares issued for this company and I don't care to know how many options. How many have ever traded beyond the initial holders at the time of compliance listing? Barely any.

When the time comes for some holders to offload this stock is going to drop in price just like your favourite examples: DIL, WYN, XRO and even your old mate PEB.

robbo24

15-01-2015, 09:45 AM

LOL - this announcement (https://nzx.com/companies/PAY/announcements/259767) reminds me of Snakk, another of BFG's faves.

Wow that ARPM is so awesome. They have met their monthly transaction targets too :D:D:D:D:D

Has Pushpay met its projected losses too? :D:D:D:D:D

Hopefully BFG gets on and provides his FA prowess on this...

Edit: Here, I'll have a go: ARPM x 603 x 12 = about $3m... $3m for an mCap of $137m, running losses, omg, BFG would never buy this going by his PEB analysis.

BFG

15-01-2015, 09:46 AM

Pushpay achieves 31 December 2014 targets9:38am, 15 Jan 2015 | GENERALPushpay achieves 31 December 2014 targets

AUCKLAND, NEW ZEALAND | REDMOND, WASHINGTON, UNITED STATES – 15 JANUARY 2015

Pushpay Holdings Limited (NZAX:PAY) (‘Pushpay’ or ‘the Company’) announced today that it has achieved its 31 December 2014 targets of growing both its customer base to over 600 merchants and monthly payment transaction volume to over $8.3 million.

“We are pleased to announce that Pushpay has achieved its 31 December 2014 targets. As at 31 December 2014, merchant numbers increased to 602 globally and Pushpay’s monthly payment transaction volume increased to $12.4 million,” said Chris Heaslip, Pushpay’s Chief Executive Officer. “Pushpay continues to deliver on its plan and is well positioned for growth with a strong product offering.”

Highlights as at 31 December 2014
- Pushpay’s customer base increased to 602 merchants and Pushpay expects its customer base to grow by 50% to 903 merchants in the three months to 31 March 2015.
- Monthly payment transaction volume increased to $12.4 million (annualised monthly payment transaction volume increased to $148.8 million).
- Average Revenue Per Merchant (ARPM) increased to $446 per month and Pushpay expects ARPM to increase to over $550 per merchant per month over the medium term.*
- Customer Acquisition Cost (CAC) remained less than 12 months and is expected to remain at this level as the business scales.
- Pushpay’s annual revenue retention rate (excluding upsells into the existing merchant base) continued to exceed 95%, which the Company believes places it among the best-in-class for SaaS companies. Pushpay expects retention to remain high as the business scales.

* Please see the section titled ‘ARPM’ overleaf for further information relating to how ARPM is calculated.
Pushpay’s merchant numbers

Pushpay’s customer base increased to 602 merchants achieving its targeted customer base of 600 merchants as at 31 December 2014. The Company expects its customer base to grow by 50% to 903 merchants in the three months to 31 March 2015.

Pushpay expects to reach this target based on continued growth and further development of both its direct sales and through targeting merchants that have existing relationships with Pushpay’s strategic channel partners and other distribution partners.

The Company will continue to primarily focus on the faith sector in the United States (US), which consists of over 314,000 churches with an average size of over 500 attendees.

Payment transaction volume

Pushpay’s monthly payment transaction volume increased from $3.0 million as at 30 June 2014 to $12.4 million as at December 2014, exceeding its targeted monthly payment transaction volume of $8.3 million. Annualised monthly payment transaction volume increased to $148.8 million.

Pushpay expects monthly payment transaction volume to continue to increase appreciatively as its merchant base grows and the Company secures a larger percentage of merchant payment transaction volume.

Given the seasonality of transaction volume, moving forward Pushpay will inform the market when significant milestones are reached.

ARPM

Pushpay calculates ARPM using a combination of subscription fees and volume fees. Subscription fees are based on the size of the merchant and volume fees are based on payment transaction volume.

Volume fees include interchange fees, which are collected by the Company on behalf of third parties, such as Visa or MasterCard. Pushpay did not collect interchange fees previously, as the Company did not offer internal merchant facilities. Given the Company now offers merchant facilities through ZipZap Processing, which is a 100% wholly owned US-based subsidiary, the Company now collects interchange fees including those collected on behalf of third parties. Pushpay will continue to report ARPM as one consolidated number, including interchange fees.

On this basis, ARPM increased to $446 per month and Pushpay expects ARPM to increase to over $550 per merchant per month over the medium term. For comparison purposes, ARPM excluding interchange fees, increased to $258 per month in December from $235 per month in June.

ZipZap Processing is maturing rapidly with more than 30% of Pushpay’s total payment transaction volume being processed through it. We expect payment transaction volume to increase significantly as the Company continues to transfer existing merchants to ZipZap Processing. In addition, ARPM will continue to increase as the Company secures a larger percentage of merchant payment transaction volumes in addition to donations, such as bookshop and cafe purchases in the case of the Faith Sector.

Outlook

Pushpay believes that it is preferable to focus on and invest in growth as the best means to achieve overall value in its business.

“Following the focused investment in people, product and business processes we are well-positioned to execute on our growth plans and deliver long-term shareholder value,” said Chris Heaslip.
The Company plans to provide a further operational update in mid-April, which will include forecast merchant numbers to 30 September 2015.

Contact
Sarah Elder | Investor Relations | Pushpay Holdings Limited
P: +64 21 637 449 | E: sarah.elder@pushpay.com
www.pushpay.com

About Pushpay

Pushpay provides mobile commerce tools that facilitate fast, secure and easy non point of sale payments between consumers and merchants. Pushpay targets merchants who are looking to offer convenient, personalised and intuitive payment solutions to their consumers. Pushpay services three target markets: the Faith Sector; Non-Profit Organisations and Enterprises (both small medium enterprises and corporate organisations).
To download the Pushpay App, visit the iTunes App Store or Google Play and search for “Pushpay”.
Visit www.pushpay.com to learn more and see an online demonstration of how Pushpay enables merchants and consumers to “never miss the moment”.
ENDS

winner69

15-01-2015, 09:50 AM

robbo24

15-01-2015, 09:50 AM

Reminds me so much of SNK (https://www.anzsecurities.co.nz/DirectTrade/dynamic/announcement.aspx?id=3683796).

Disc: not Hjolding.

AUCKLAND, New Zealand, 25 August 2014 - Snakk Media Limited (NZAX: SNK) is

today announcing first quarter unaudited revenues of $2,007,052 from April to

June 2014, representing a 67% increase from the previous year's corresponding

quarter. The year-on-year increase for the first quarter is 95% when the

impact of exchange rate fluctuation is taken into account.

Snakk Group CEO Mark Ryan says trading continues to be strong in the New

Zealand and Australian markets: "Our Q1 revenue growth has stayed on par with

our recent annual results. We exceeded our internal targets and have expanded

the sales team across four of our offices to cope with strong market demand.

BFG

15-01-2015, 09:51 AM

Reminds me so much of SNK (https://www.anzsecurities.co.nz/DirectTrade/dynamic/announcement.aspx?id=3683796).

Disc: not Hjolding.

Hey Rob, compare Snakk margins with PushPay ones.

Whoops...

robbo24

15-01-2015, 09:52 AM

Hey Rob, compare Snakk margins with PushPay ones.

Whoops...

For every dollar in the door they both lose money... Whoops!

Edit:

PAY: In November, Pushpay said it widened its loss to $2.7m in the six months ended September 30, from $568,000 in the same period a year earlier. Sales climbed to $1.6m from $90,000, while operating expenses rose to $4.5m, from $661,000. (http://www.msn.com/en-nz/money/markets/shaw-huljich-join-pushpay/ar-AA85uu4)

SNK: Diluted loss per share of .83 cents x 265m shares (https://nzx.com/files/attachments/205501.pdf) (at page 8)

You tell me which is better :D:D:D:D

BFG

15-01-2015, 09:55 AM

For every dollar in the door they both lose money... Whoops!

1250 merchants (break even) is a mere 4-6 months away at current growth rate. That is, if they choose to become profitable. Looks like they are going for the Xero-style growth curve though.

I don't see Snakk projecting 70-80% margins. Maybe that's because they aren't SaaS.

Growth of Xero and a retention rate of Diligent. Very nice!

robbo24

15-01-2015, 09:57 AM

1250 merchants (break even) is a mere 4-6 months away at current growth rate. That is, if they choose to become profitable. Looks like they are going for the Xero-style growth curve though.

I don't see Snakk projecting 70-80% margins. Maybe that's because they aren't SaaS.

Growth of Xero and a retention rate of Diligent. Very nice!

Growth of Xero!!

Retention of Diligent!!

Product of...... Marginal utility and originality!!

Edit: WONDERTWIN POWER, ACTIVATE!! :D

Schrodinger

15-01-2015, 10:53 AM

Growth of Xero!!

Retention of Diligent!!

Product of...... Marginal utility and originality!!

Edit: WONDERTWIN POWER, ACTIVATE!! :D

Need more info. Moosie do you have the USA figures for revenue? for both FY13-FY14. Gaining churches is good but I want to see the actual revenue numbers not transaction volume.

Also interested in how much is based on RTR. I expect 50% or more is from the acquisition.

Schrodinger

15-01-2015, 10:54 AM

1250 merchants (break even) is a mere 4-6 months away at current growth rate. That is, if they choose to become profitable. Looks like they are going for the Xero-style growth curve though.

I don't see Snakk projecting 70-80% margins. Maybe that's because they aren't SaaS.

Growth of Xero and a retention rate of Diligent. Very nice!

Key here is to get each church using this as their default donation source. More usage means higher margins. Not interested in the B2B solution as there are 50+ providers with the same tech in USA.

BFG

15-01-2015, 12:42 PM

Need more info. Moosie do you have the USA figures for revenue? for both FY13-FY14. Gaining churches is good but I want to see the actual revenue numbers not transaction volume.

Also interested in how much is based on RTR. I expect 50% or more is from the acquisition.

This is from the Disclosure Document when the company listed showing revenue base for RTR:
As an enterprise gateway partner, RTR earns revenue from providing ongoing regular SMS Gateway services (representing approximately 69% of revenue) and providing SMS Gateway services focused on a particular Client campaign (representing approximately 31% of revenue).

This is for RTR from last interim report. I would suspect FB makes up a good chunk of this:

Acquisition of ‘Run The Red’

In May 2014, Pushpay purchased the business and assets of “Run The Red” (RTR). RTR integrates text messaging with core business applications using an SMS Gateway, and facilitates personalised communication that can lead to payments and other mobile commerce experiences. Based on volumes through the quarter ended September 2014, RTR delivers over 150 million targeted text messages per year on an annualised basis.

Clients include Westpac, Sky TV, Vodafone, Z Energy, The Department of Internal Affairs, Facebook and as announced in early October, New Zealand Post Group which consists of a number of businesses including Kiwibank, New Zealand Post and Express Couriers.

Pushpay believes RTR adds significant value to the Pushpay opportunity in terms of complementary products and additional access to enterprises that are not currently Merchants. The purchase of RTR has allowed Pushpay to position itself beyond simply effecting mobile commerce payments through the incorporation of an enterprise channel that allows merchants to communicate with Consumers via Smart Mobile Devices, supplementing and enhancing the overall mobile commerce experience.

Here is the break down of client percentages for NZ, OZ and USA:

6660

Hope this all helps :)

BFG

16-01-2015, 12:58 PM

Schrodinger

16-01-2015, 01:03 PM

Someone is slowly chewing away at $2.85. No one selling, and I don't blame them either! $3.00+ would be a nice end to a great week :)

I've sent Sarah Elder an email with a few questions that others may ask about PushPay. Will post Questions and replies once received from her. :)

If I was seriously looking at these guys I would have lots of questions. Given that I am more of a value investor these would be geared up towards 2-5 yr timelines around the market etc. For the day traders the volatility might be useful but imo you are gambling on the current valuation justifying earnings potential.

BFG

16-01-2015, 03:29 PM

If I was seriously looking at these guys I would have lots of questions. Given that I am more of a value investor these would be geared up towards 2-5 yr timelines around the market etc. For the day traders the volatility might be useful but imo you are gambling on the current valuation justifying earnings potential.

I can understand peoples sentiments on high valuations, but you can start to justify it using forward valuations and growth rates. I've yet to update my spreadsheet yet, but when I do I'll try and remember to post here.

This thing doesn't have intraday trading ability. It literally trades at the same price intraday, is very tightly held and has low volume. Either you buy the story or you don't!

"Growth stocks always look expensive when you first buy them". I thought that when I bought Xero @ $5.00 (and sold @ $5.50) :p

BFG

16-01-2015, 03:50 PM

http://www.stuff.co.nz/business/industries/65116527/pushpay-targets-us-churches-for-smartphone-app

Auckland firm Pushpay is persuading more United States churches to ditch collection bowls and converting them to its smartphone app, which lets parishioners make donations from their mobiles.

The firm said today it had met the December sales targets it set out when it listed on the junior NZAX exchange in August, notching up 602 customers and increasing the monthly value of transactions made through its cloud-based mobile payment platform to $12.4 million.

Its software is designed to let people make payments from their mobiles in less than 10 seconds. More than three-quarters of its customers are churches and other not-for-profit organisations in the US.

Seattle-based chief executive Chris Heaslip said Pushpay still saw its system being used much more widely, for example by utilities to let customers pay bills. But the church niche, which it had stumbled on "a bit by accident", was a large one and would remain its primary focus for now.

"The longer-term is more about the enterprise space and bill payment; 'get your Vodafone bill delivered to your phone and pay it with a four-digit pin number or your thumb print'," Heaslip said.

Pushpay said there were more than 314,000 churches in the US with an average of more than 500 attendees.

In November, Pushpay reported a net loss of $2.6m for the six months to September 30 on revenues of $1.6m. In today's forecast its merchant numbers would increase by 50 per cent to 903 by the end of March.

Pushpay's shares have almost doubled to $2.85 since they debuted on the NZAX in August, valuing the company at $142.5m.

Although much of its management is now based in the US it employs 20 developers and testers in New Zealand, Heaslip said.

* - Emphasis is mine

BFG

21-01-2015, 11:46 AM

Hi everyone. Received a response to my question from the company. If you have any further questions, feel free to get intouch with the company.

Dear XXXXXX,

Thank you for your email.

Please find answers to your questions below.

1) When does PushPay recognise a new client as being on the books? Is that at time of signing or at time of first receipt from them?

Pushpay recognises a new Merchant once the Merchant has signed a client agreement, discounted for any merchants we believe will not proceed with using the service.

2) How does PushPay recognise revenue? I have noticed over the past few years that some SaaS companies have been in trouble for not properly reporting their revenue numbers, and there is debate as whether this should be taken upfront or spread out across years.

Pushpay currently recognises revenue as services are delivered to Merchants/Clients (for example Pushpay currently charges Merchants on a monthly basis and as such revenue is recognised on a monthly basis) as per NZ IFRS.

3) I notice the company is going for a growth/loss-making model of revenue generation rather than a profitable/stable model. As the company made higher losses last year and the capital gained from last year’s capital raising will not last forever, will the company be thinking about another capital (or Share Purchase Plan) raising on the NZX this year?

The board continues to monitor capital requirements and if they see fit will undertake a further capital raise which will be announced to the market at that time.

If you have any further questions please email me.

Kind regards,
XXXX

robbo24

21-01-2015, 11:53 AM

Dear XXXXXX,

...

Kind regards,
XXXX

Gee you're on good terms with PAY if you are addressing them with kisses and they are responding to you with kisses...

xxxx
Robbo24

BFG

21-01-2015, 12:35 PM

Gee you're on good terms with PAY if you are addressing them with kisses and they are responding to you with kisses...

xxxx
Robbo24

Good to know we're on the same terms :D

robbo24

21-01-2015, 12:36 PM

Good to know we're on the same terms :D

Mine was a blanked out swear word :D:D:D:D

Anyway, will 76 hold true?

klid

21-01-2015, 07:07 PM

It's a pity that the manager of online and telephone trading for ASB securities and their team made an arbitrary decision to not execute my order. It does make me wonder about their competence.

If you guys are interested in Pushpay... you can download their app (Pushpay) for free. I think it's all about the potential (cos I can't seem to find many businesses etc in there). There seems to be some big other app based in the US, you might see it as a "related app" in Google Play or something, all seems rather interesting.

But yes one thing I found interesting is one of the businesses in there is a cafe in Auckland, and it seems you can put an order through and pay, very easily using the app. I imagine you just walk past the coffee shop and you get your coffee handed to you, bam. Now that is cool! Potential indeed.

MAC

19-02-2015, 12:30 PM

Something for long term holders;

http://img.scoop.co.nz/media/pdfs/1502/Clare_Capital__Pushpay_Holdings_Limited__A_SaaS_pl ay_which_makes_donating_and_paying_easy.pdf

Schrodinger

19-02-2015, 12:43 PM

Another example of terrible advice to investors. There is no way that PAY is worth $180M + and rising to $250m in 2016. Love the comment about: could be worth $500m by simply moving to other countries. Where do they get these people?

There is absolutley nothing about the competitive forces in this industry. Mobile payments is a massively competitive industry with all the large companies offering what PAY have with more complexity and integration. Investors need to understand that PAY will have to stick to the church sector in USA and this will limit their scalability.

Try starting at $25m and work your way from there.

If you buy on this valuation there is no hope for you.

MAC

19-02-2015, 01:09 PM

I’m not a shareholder, I don’t really have an interest in IT tech stocks, they don’t generally fit within my investment strategy, so I’ve no interest in buying PAY for that sole reason, and thus I have no opinion on the value of PAY as I don’t research the stock.

Rather than just slandering professional analysts, you may actually like to consider offering up some constructive input to this forum by posting your own detailed alternative analysis workup.

Members may then decide for themselves, whom may be more appropriately correct, Schrodinger or Clare Capital, if they have not already done so by default.

Schrodinger

19-02-2015, 01:14 PM

MAC

19-02-2015, 01:40 PM

Nice work MAC. I don't put out 'commissioned research' giving advice to investors to lose money therefore your observation is irrelevant.

My observation would then be thus, one can't really say that an analyst recommendation is flawed unless one has done their own work to substantiate and demonstrate otherwise.

Opinions carry weight if they are backed by research and alternate reasoning, but by all means slander away, you may or may not influence folk with that.

Harvey Specter

19-02-2015, 02:25 PM

I only skimmed it. They said the high rev/EV value (about 80!!) was justified due to high growth but there didn't appear to be any discount for the fact that high growth would be hard to maintain.

I was also a bit confused as ARPM was $1.9m yet revenue for FY15 was forecast at $4.5m. As I said I only skim read it but with a March balance date, they must have another source of income???

Does anyone here follow PAY. I know Moosie/BFG does but I think he is banned.

blocker3

20-02-2015, 05:58 PM

Crystal Ball

02-03-2015, 02:33 PM

I own some. The USA road show did it for me .
I think the numbers being sold are quite pathetic. Wonder if the holders selling to each other to ramp up the price. Tiny, tiny quantities going through about once a week.....not convinced.

Mista_Trix

28-04-2015, 08:35 PM

What's up with this stock? Amazing last 6 months, something doesn't quite feel right though.

noodles

28-04-2015, 09:40 PM

I think the numbers being sold are quite pathetic. Wonder if the holders selling to each other to ramp up the price. Tiny, tiny quantities going through about once a week.....not convinced.

What's up with this stock? Amazing last 6 months, something doesn't quite feel right though.
From the recent rights announcement issue.
"Certain interests associated with the Huljich family and with the Bhatnagar family, which in aggregate hold 34.81% of the shares in Pushpay, have committed to take up their pro-rata entitlements under the entitlement offer. A number of investors, including interests associated with Pushpay Director Graham Shaw, have agreed to fully underwrite the balance of the entitlement offer at $3.85 per share."

For me, this is a really strong signal for the stock. These guys are on massive unrealised profits, but still want to add more.

I don't own PAY as it doesn't really fit my investing approach. However, the insiders obviously think that this stock is going to go a lot higher.

Baa_Baa

04-05-2015, 12:33 PM

robbo24

04-05-2015, 12:35 PM

Crystal Ball

04-05-2015, 09:07 PM

The PAY money go round insider share allocations interest free loans and entitlements machine fires into action. Some great deals being shared amongst insiders, considering the lofty share price presently $4.50 https://www.nzx.com/markets/NZAX/securities/PAY/announcements
Yeah but tiny tiny little batches selling. All done to push the price up each time so people go onto the charts and go wow! from$1 to $4.50 in s year, I need w slice of the Waitomo ! Piddly amounts gong through once or twice a week, I am not sucked in......DYOR on this one.

Crystal Ball

04-05-2015, 09:09 PM

Yeah but tiny tiny little batches selling. All done to push the price up each time so people go onto the charts and go wow! from$1 to $4.50 in s year, I need w slice of the Waitomo ! Piddly amounts gong through once or twice a week, I am not sucked in......DYOR on this one.
Oops predictive I pad, making up words on me. wasn t "I need a slice of the Waitomo" was meant to be I need a slice of the action .....

robbo24

05-05-2015, 09:29 AM

I'll see you for my slice of the Waitomo in 2018 for the company's maiden profit (page 2): https://nzx.com/files/attachments/211979.pdf

$220m company with 4.5m revenue :D I can hear all those VML bulls now - why is the market so silly how come my silly stock doesn't have such a metric?

My guess is the veritable smorgasbord of crispness that is PushPay and the veritable smorgasbord of interesting and cool shareholders.

Beagle

05-05-2015, 09:39 AM

I reckon Churches will really appreciate the immediacy of Push Pay...not slagging off at Churches, I wouldn't dare but the plain fact of the matter is preachers give an emotional plea, a full sermon sometimes about giving and parishioners have immediate access to all their funds, (as opposed to just the cash they brought with them in their wallet, who carries a chequebook anymore ?), when there heart and mind are in an inspired state, shall we say.
I know many churches have eftpos machines anyway but you have to get up out of your pew and use them which creates a barrier to entry so to speak...whereas pushpay is so easy and has no barrier to use.

percy

05-05-2015, 10:50 AM

I wonder whether we will see preachers on commission?

Beagle

05-05-2015, 11:06 AM

Actually many of them do fantastic work in the community and probably deserve it but most are happy to have their rewards in heaven :)

Harvey Specter

05-05-2015, 11:16 AM

I wonder whether we will see preachers on commission?I think their interests are already aligned with Pushpay - the more donations, the more pushpay earns and the more the church has to spend.

percy

05-05-2015, 11:31 AM

I think their interests are already aligned with Pushpay - the more donations, the more pushpay earns and the more the church has to spend.

I was thinking more of a life after politics for Winston.
A good little earner?

robbo24

29-05-2015, 01:21 PM

A good little earner?

The story in the annual report, as they tell it, seems quite reasonable... https://nzx.com/files/attachments/213900.pdf

Those revenue growth figures are juicy.

Although, I do wonder who else could swoop into this space and end the dream...

Baa_Baa

31-05-2015, 09:56 PM

OMG, "juicy", like tooty fruits! This SP is grossly overinflated and still illiquid, you'd better have a spare shirt else risk losing the one you've got, or waiting an eternity for reality to catch up to the SP (it never does, the SP always comes back to reality first). The FY report is a work of art, literally, it's the shareholders money that paid for the Ad agency to make a financial sows ear look like the proverbial silk purse. Did you actually read the financials? Multiply the merchants by the monthly revenue by 12 and you have a profound loss and run out of cash, and oh what a surprise, a cap raising June 5! Not surprising that the market responded to the $13m cap raise announcement and dilution with a whopping $4.55 to $3.85 decline (which is still an out of the ballpark SP valuation). As reality settles in and even with their >2000 forecast merchants (100+% .. hope they make it otherwise it's SP hell) it's not rocket science to see that "juicy" would be taking profits now, but certainly not buying in or accumulating at these inflated SP levels. I'd be less concerned for lurkers if the posters assessment wasn't so obsequious and hypocritical.

BAA

The story in the annual report, as they tell it, seems quite reasonable... https://nzx.com/files/attachments/213900.pdf

Those revenue growth figures are juicy.

Although, I do wonder who else could swoop into this space and end the dream...

robbo24

31-05-2015, 11:34 PM

Not surprising that the market responded to the $13m cap raise announcement and dilution with a whopping $4.55 to $3.85 decline (which is still an out of the ballpark SP valuation)

$3.85 is the cap raise price, not uncommon for a stock to go there... Sometimes the stock goes even lower than the cap raise price :D

PAY will be listed on the NZX Main Board soon - great work, wonder how long it will be before it's a constituent of the NZX50! :D

Joshuatree

04-06-2015, 09:33 PM

First time visitor. I was int in what is helping BFG stay at the top of NZ share comp. He chose PAY which i didn't have clue what it was. Well i do now having read some entertaining threads(thanks:) . If he wins this quarters comp i think he should be sent a bottle of Claytons because PAY is a share when you're not having a share:t_up::t_down:

percy

14-08-2015, 08:42 AM

Well it has been a year since PAY listed at $1.00.
Currently $5.35.
First of all congratulations to PAY, and those who had the conviction to buy into PAY.
To the rest of us.WE GOT IT WRONG.!!!

Plutus

14-08-2015, 09:11 AM

http://www.nbr.co.nz/article/pushpay-targets-100m-annualised-monthly-revenue-over-next-three-years-b-177043#comment-694314
Stunning result. (disc. - shareholder, and smiling) :)

Cobber

14-08-2015, 09:18 AM

The story in the annual report, as they tell it, seems quite reasonable... https://nzx.com/files/attachments/213900.pdf

Those revenue growth figures are juicy.

Although, I do wonder who else could swoop into this space and end the dream...

Considering PushPay is making huge revenue gains from churches.... I'm wondering why the Vatican hasn't swooped in with their own product.

Harvey Specter

14-08-2015, 10:54 AM

Considering PushPay is making huge revenue gains from churches.... I'm wondering why the Vatican hasn't swooped in with their own product.Or why churches dont move to regular gifting. Just like a Gym membership, take the money out on a weekly/monthly basis. Very easy to operate. I guess the benefit of PAY is the preacher can motivate more donations while the church goers are intoxicated with god.

Plutus

15-08-2015, 09:33 AM

Or why churches dont move to regular gifting. Just like a Gym membership, take the money out on a weekly/monthly basis. Very easy to operate. I guess the benefit of PAY is the preacher can motivate more donations while the church goers are intoxicated with god.

And they don't have to be at Church to get a prompt to donate. Clever business model.

Harvey Specter

15-08-2015, 09:48 AM

Clever business model.The Gym model. Recurring payments from clients even though only 25% turn up.

Subway

18-08-2015, 01:57 PM

OMG, "juicy", like tooty fruits! This SP is grossly overinflated and still illiquid, you'd better have a spare shirt else risk losing the one you've got, or waiting an eternity for reality to catch up to the SP (it never does, the SP always comes back to reality first). The FY report is a work of art, literally, it's the shareholders money that paid for the Ad agency to make a financial sows ear look like the proverbial silk purse. Did you actually read the financials? Multiply the merchants by the monthly revenue by 12 and you have a profound loss and run out of cash, and oh what a surprise, a cap raising June 5! Not surprising that the market responded to the $13m cap raise announcement and dilution with a whopping $4.55 to $3.85 decline (which is still an out of the ballpark SP valuation). As reality settles in and even with their >2000 forecast merchants (100+% .. hope they make it otherwise it's SP hell) it's not rocket science to see that "juicy" would be taking profits now, but certainly not buying in or accumulating at these inflated SP levels. I'd be less concerned for lurkers if the posters assessment wasn't so obsequious and hypocritical.

BAA

First time caller, long time listener.

I've noticed your almost evangelical praise of VMob (a company with a history of promising and failing to deliver everytime it changes its stripes with a new business idea, dodgy corporate governance from directors that have a history of fleecing investors, telling investors they won't list on the ASX, then they will a couple of days later, juicy SPP's for cushy execs who keep selling down) yet, you are so decidedly critical of Pushpay, a company that from the outset has gone from strength to strength with its growth. Instead of rumoured deals, these guys are actually delivering, unlike VMob.

Im not defending Pushpay, I invest in neither, but I am curious why you aren't equally as critical about VMob, a company with an arguably similar revenue model.

Plutus

22-08-2015, 08:29 AM

First time caller, long time listener.

I've noticed your almost evangelical praise of VMob (a company with a history of promising and failing to deliver everytime it changes its stripes with a new business idea, dodgy corporate governance from directors that have a history of fleecing investors, telling investors they won't list on the ASX, then they will a couple of days later, juicy SPP's for cushy execs who keep selling down) yet, you are so decidedly critical of Pushpay, a company that from the outset has gone from strength to strength with its growth. Instead of rumoured deals, these guys are actually delivering, unlike VMob.

Im not defending Pushpay, I invest in neither, but I am curious why you aren't equally as critical about VMob, a company with an arguably similar revenue model.

Subway, I am an investor in both - in some ways they are similar and in others not. Pushpay are probably the most focussed and determined Tech company on the planet at the moment and scoring goals. VMOB seem to be sorting a few legacy issues out and have developed seriously good connections in the US. The only question in my head, is which company gets the big buy-out offer first. NZ is entering a tech company renaissance - some really cool things happening in the space in a number of areas. The real challenge as always is picking the winners.

Harvey Specter

30-09-2015, 10:13 AM

Private placement at a huge discount (at least they are embargoed for 2 years). I guess it depends how long the capital raise has been going for given they were at that price in August.

http://www.sharechat.co.nz/article/15dba6c1/mobile-payments-developer-pushpay-secures-18-7-million-in-private-placement.html

baller18

14-10-2015, 05:14 PM

Nearly a 4 fold in a year... whoaaaa

Cobber

15-10-2015, 10:31 AM

Nearly a 4 fold in a year... whoaaaa

These guys are smashing it. The shareprice seems expensive now.... but if they get ACMR of $100 million in a few years, they could be considered cheap.

banter

25-10-2015, 05:22 PM

Noticing PAY now has a market cap over $400m, I had a look to see if they were NZ50 candidates. They’re not, as 75% approx of shares are held by directors and associates – though if I remember right the Herald reports they’re thinking about helping out by selling a few.

PAY lost 20cps at last report annual accounts, and has a turnover *based on the last month covered by the Annual Report, annualised*, of $200m – less than half the MCAP.

Directors’ blurbs reveal connections with home ventilation business (sales) and something called Bitcoinica, in liquidation.
I noticed a few other interesting things in passing which I will share here.

banter

25-10-2015, 05:25 PM

Douglas David Kemsley sold 393,787 shares for $1.7m on 19/10/15. https://nzx.com/files/attachments/223035.pdf, and another $1.1m worth at $3.85 on 5/6/15 https://nzx.com/files/attachments/214372.pdf

The closing share price on 19/10/15 was 7.87

Want some Pushpay shares? Instead of paying $7.87, you could ask DDK if he will sell you some at $4.88.
Or better yet, at $2.90.

Perhaps some of the buyers (listed below - per NZX announcement) will be selling on market.

The following trades were at $4.88 per share:
The Perry Savill Trust as to 35,000 shares
Mila 19 Trust as to 10,000 shares
Samuel Douglas Fitzgerald as to 20,903 shares
FNZ Custodians Limited as to 29,725 shares
Joshua Paul Coburn as to 8,196 shares
Christine Joy Dyke as to 10,000 shares
R & E Bell Family Trust as to 10,000 shares
Sean Lloyd Richardson Mulholland as to 10,000 shares
Jonathan Edward Phipps as to 2,050 shares
Daryl Matthews as to 2,049 shares
TNT Trust as to 10,245 shares
Willem Jacobus Prinsloo & Johanna Dorothe Prinsloo as to 5,000 shares
Lawrence Wayne Fudge III as to 6,100 shares
Steven Dunstan as to 2,050 shares
Reed Bogard as to 918 shares
Rodrick Shane Williams as to 4,098 shares
Michael Khouri as to 3,073 shares
Ivan Philip Selak & Elizabeth Mary Selak as to 4,098 shares
Megan Jaffe as to 35,000 shares
John Archibald Banks as to 35,000 shares
Simon Adams as to 15,365 shares
Alan Conder as to 10,000 shares
Ulrik Kaare Olsen as to 15,000 shares
The following trades were at $2.90 per share:
M J Roberts as to 34,400 shares
Chrisholm Family Trust as to 51,724 shares
Marion Tahana as to 23,793 shares

banter

25-10-2015, 05:27 PM

http://www.sharetrader.co.nz/showthread.php?9699-PushPay&p=525710&viewfull=1#post525710
http://www.sharetrader.co.nz/showthread.php?9699-PushPay&p=525610&viewfull=1#post525610

“Trying to buy the shares and they won't let me. Reckon I can only put an order on for $2.56 at most. $0.01 above the highest bid??
Seems like they're doing the manipulating rather than me.”

banter

25-10-2015, 05:32 PM

The moving average of daily turnover over the past 50 days in 2015 has ranged from $1k to $38k.
Anyone trying to sell, say, $100k worth could depress the market quite a bit.

And you wouldn't want to cause any downward price momentum - see next.

banter

25-10-2015, 05:35 PM

This chart compares PAY with some other shares that went up recently by hundreds of percent.
7688

Beagle

25-10-2015, 05:56 PM

Not one I follow, (I don't engage in investment speculation, real companies with real earnings or I'm not interested), but I think you've made some excellent points banter.

Plutus

26-10-2015, 01:49 PM

This chart compares PAY with some other shares that went up recently by hundreds of percent.
7688

That would suggest it is topping out ??

banter

26-10-2015, 11:35 PM

That would suggest it is topping out ??
A sharp fall might suggest that. PAY might go up some more from here.

But put it this way - what stocks have gone up three-fold or more in recent years and NOT fallen to a third of peak?
AIR, THL and FPH have. But they're all profitable companies.

Joshuatree

04-11-2015, 06:48 PM

If it hasn't been posted already ;PIE Funds are now happy holders of PAY. Comparison with Xero 40 x multiple ;PAY 14.7 very bullish .

Leftfield

17-11-2015, 09:31 AM

Results announced today…

"Pushpay Holdings Limited CEO, Chris Heaslip said, “Pushpay has had six months of phenomenal growth, we have exceeded our targets by 11% having increased our Merchant numbers by 111% in the six months to 30 September 2015, ending the half year with 2,102 Merchants…

"….The Company is now targeting an increase in Merchant ACMR of over 100% to more than $28 million in the six months to 31 March 2016. Over the medium term, Pushpay is targeting an increase in Merchant ACMR to $100 million within the 36 months to August 2018."

Joshuatree

19-11-2015, 10:09 PM

Tot rev $6.219 mill
6 months sep 2015 6 months sep 2014 $1.519 mill

Total expenses $12.398 mill $4.497mill

Loss for period $6.225 mill $2.717 mill
Loss pershare 12 c 7c pershare
shares increased from re 30 to 50 million
Raised $32.6 million ,Bal $30.147 million
Plenty of cash for a few years to keep going for growth.
God Bless America:cool::confused: and PIE Funds me no hold

muss1

19-11-2015, 10:31 PM

I normally follow what PIE buy, but I can't understand this one at all. Sorry a bit of a nothing comment but I can't see where the attraction is - so much growth already built in

Joshuatree

21-12-2015, 04:16 PM

Oh dear the ground i rushing up fast for PAY.Hope a reserve parachute is accessible:scared:

Hoop

21-12-2015, 08:04 PM

Pop!!

Well done Banter...where-ever you are now

Yoda

21-12-2015, 10:54 PM

Glad i got out at 7. It will be interesting to see where it stops

TFA

22-12-2015, 12:27 PM

Would be interesting to know what price PIE got in at...possible around high 4's

Hoop

22-12-2015, 12:47 PM

PAY has got a speeding ticket from the NZX

nextbigthing

22-12-2015, 12:49 PM

I see there's a price enquiry in regards to the recent fall in shareprice.

Was there an enquiry in regards to the rise?

Hoop

22-12-2015, 12:55 PM

I see there's a price enquiry in regards to the recent fall in shareprice.

Was there an enquiry in regards to the rise?

There was one on the 24th September 2015

nextbigthing

23-12-2015, 01:13 PM

Well it has been a year since PAY listed at $1.00.
Currently $5.35.
First of all congratulations to PAY, and those who had the conviction to buy into PAY.
To the rest of us.WE GOT IT WRONG.!!!

Just skimmed over the last few pages which is mostly just talk, and most of that bagging PAY, perhaps unfairly with no real research in many cases. This post from Percy stuck out as he is absolutely correct. Everyone has been pretty quick to write it off, but it has gone from $1 to $8 or so (and now back again a little). Initially at least, we got it wrong!

So what's all the fuss about?

I want 10% return. This is just a figure I use to work from, a benchmark for calcs which works for me for any share, I then adjust for risk with margins etc.

Quick calculations after reading the latest report;

60m shares on issue (roughly). Price $6.75

10% return means 67.5c required per share.

0.675 x 60M = $40M profit required (near enough).

Current average revenue per merchant = $570 per month, ie $6840 annually.
(The latest report has an easy to understand explanation of this; https://s3.amazonaws.com/pushpay-marketing-assets/Investors/Pushpay+Holdings+Limited+Interim+Report+2016.pdf)

How much of the ARPM becomes profit in the medium term? I have no idea. I don't usually value tech/software companies and will need to look into this further as it will wildly affect the results. Obviously they will hugely benefit from economies of scale but need to spend a lot on marketing to get there and perhaps a lot on development consistently to maintain their position. Let's say 50%. So $6840/2 = $3420 profit PA per customer.

$40M is the required amount, / $3420 = 11696 customers required.

They currently have 2100 customers so are about 1/5 of the way. This is where the growth rate becomes important. Again I don't have much experience valuing tech/software companies and don't know the typical growth patterns but from what I've seen/imagine, growth would be slow to start until some early adapters jump on board (which has happened), it would then rocket exponentially for a period (happening now) before tapering off again (when?), a bit like a log curve. The big question becomes, how long can this huge growth ('hyper growth' in their report) be sustained? The market seems to love the product, but I remember loosely following the DIL thread, everyone said it was going to be the next big thing (silly suggestion as that's me), yet they we IMHO already reaching saturation of their likely market with a glass ceiling. I think the shareprice of DIL has backed this theory that growth was going to slow siginificantly. Where is saturation for PAY? The growth is amazing now, but perhaps all of those who are likely to sign up are doing so now, and growth is going to slow soon. Maybe not, maybe they are still signing up the early adopters and the bulk is yet to come (as the shareprice suggests).

So yes a large amount of growth is priced into the company IMHO, however they are growing at an amazing rate and it's early days, so it's not completely irrational.

Hopefully someone will get something from this ramble. Anybody else done any analysis or care to point out where I might have gone wrong or overlooked something?

King1212

13-01-2016, 02:29 PM

Hi gurus, can anyone please explain PAY is planning to split the share, what does it means? Thanks

Yeshiva

13-01-2016, 03:02 PM

Hi gurus, can anyone please explain PAY is planning to split the share, what does it means? Thanks

Hi everyone - first time commenter, long time lurker!

King1212 - it means stuff all in a mathematic sense. The market capitalisation of the company doesn't change one bit. You still own the same amount as before in dollar terms. The announcement on the NZX pages here - https://www.nzx.com/companies/PAY/announcements/276312 means that the number of shares will increase by 4. If you have 100 shares worth $700 now, then soon you will have 400 shares worth $700 in today's dollars. So not much in a mathematical sense. I'm happy to be corrected if I have any of this wrong but I think this is right.

HOWEEVR - in a psychological sense, increasing the number of shares has a slightly positive improvement on liquidity, as potential buyers perceive the shares to be cheaper, and holders feel they own more shares and are happy to trade more. There is a nice article on this on the Investopedia website which I think is a superb resource for investors. http://www.investopedia.com/articles/01/072501.asp

What is really nice about this announcement is not the share split, but the revenue growth numbers. 46% revenue growth over the last three months is quite remarkable. If they can keep up this kind of growth then they will outgrow Orion and Diligent in market cap before too long.

King1212

13-01-2016, 03:04 PM

Thank heaps!

Yeshiva

13-01-2016, 03:14 PM

Thank heaps!

The investopedia article I linked to above makes another good point. A share split helps liquidity by reducing the bid/ask spread. I had not ever considered that before, but it makes sense.

Cobber

13-01-2016, 03:53 PM

Hi everyone - first time commenter, long time lurker!

King1212 - it means stuff all in a mathematic sense. The market capitalisation of the company doesn't change one bit. You still own the same amount as before in dollar terms. The announcement on the NZX pages here - https://www.nzx.com/companies/PAY/announcements/276312 means that the number of shares will increase by 4. If you have 100 shares worth $700 now, then soon you will have 400 shares worth $700 in today's dollars. So not much in a mathematical sense. I'm happy to be corrected if I have any of this wrong but I think this is right.

HOWEEVR - in a psychological sense, increasing the number of shares has a slightly positive improvement on liquidity, as potential buyers perceive the shares to be cheaper, and holders feel they own more shares and are happy to trade more. There is a nice article on this on the Investopedia website which I think is a superb resource for investors. http://www.investopedia.com/articles/01/072501.asp

What is really nice about this announcement is not the share split, but the revenue growth numbers. 46% revenue growth over the last three months is quite remarkable. If they can keep up this kind of growth then they will outgrow Orion and Diligent in market cap before too long.

These guys are flying at 100 miles an hour.

I still think they are massively overvalued.... but when you compare them against Slack, Yammer etc which are all over a billion in valuation, then these guys still have quite a lot of room for potential SP growth.

However.... with the markets the way they are.... if the bottom was to drop, these are the companies that will potentially get hammered first.

Yeshiva

13-01-2016, 04:38 PM

These guys are flying at 100 miles an hour.

I still think they are massively overvalued.... but when you compare them against Slack, Yammer etc which are all over a billion in valuation, then these guys still have quite a lot of room for potential SP growth.

However.... with the markets the way they are.... if the bottom was to drop, these are the companies that will potentially get hammered first.

Yes, they are flying at 100 miles an hour, but I think there are two tiers of tech companies in NZ. Those with large amounts of cash on hand, and those that don't have much cash at all.

Pushpay, like Xero, Orion and Diligent, is very well capitalised (or in the case of Diligent, free cashflow positive which is the best of all)

If the markets got global wobbles, then yes, all companies will be negatively affected. But those companies that need to raise more capital would be the worst hit, for all the obvious reasons.

Given that Pushpay has almost $20m cash on hand (see their announcement earlier today), you can see how they would be able to ride through a rocky six month patch when it would be hard to attract capital.

Some of the other NZ tech companies would be performing brutal discounts on their share price to raise money in such an environment - if at all. I won't mention their names, but I'm sure most investors could identify those companies pretty quickly without much need for research.

The top tier of companies like Xero and the others above have heaps of cash on hand and so the smart money won't take fright like they might with those companies that have weak balance sheets. Markets might go sour for half a year or more, but those companies will still demonstrate their high performance over that time, reassuring investors.

Leftfield

22-03-2016, 12:53 PM

HeartOfGold

22-03-2016, 02:03 PM

Nice to see a 30% plus hike in SP over the last few days. Their latest investor presentation is possibly fuelling the interest. I like that PAY are signalling diversification beyond from the Church/Non profit giving to more general bill paying and are confirming forecasted 100% plus ACMR growth for 6 months to 31 March 2016.
Have a read; https://nzx.com/files/attachments/232382.pdf
Disc; happy holder. DYOR.

https://www.nzx.com/companies/PAY/announcements/279682

They have had a few please explain letters now.
Undecided whether the big movements are due to the low liquidity of the stock or something more sinister...

Continuing to watch closely. Looking forward to next full report. Fintech is an exciting industry right now.

Leftfield

22-03-2016, 03:42 PM

https://www.nzx.com/companies/PAY/announcements/279682

They have had a few please explain letters now.
Undecided whether the big movements are due to the low liquidity of the stock or something more sinister...

Continuing to watch closely. Looking forward to next full report. Fintech is an exciting industry right now.

Mmmm, interesting, the enquiry and PAY's response adds nothing new!? However SP has been pruned in the interim, so maybe NZX happy.

King1212

22-03-2016, 09:36 PM

Below is the comment from The Moose. I don't really know him or her, but read heaps of his or her good opinions on NBR. I did a small research about him or her , she or he used to be sharetrader member but his or her ac was suspended? People said he or she is a legend. I mean investor legend......anyone know him or her?

I totally agree with his comments, he commented last December, saying a lot investors ignored this company which is fast growing! I knew a lot of church members and lived in USA, yes most churches still use boxes for donations and manually done.

http://www.nbr.co.nz/article/pushpay-asked-please-explain-39-share-price-rally-b-186591

The Moose 2 hours ago
Still quite illiquid and tightly held share, nothing to see here. I remember Xero being the same way back in the day. Why would you want to sell such a fast growing company which is dominating a niche US market? Good to see the company presentation today showing them broadening their horizons refarding payments. Future is still very bright for PushPay!

percy

22-03-2016, 09:43 PM

Snow Leopard

22-03-2016, 09:47 PM

King1212

22-03-2016, 10:23 PM

He or she (to keep the gender neutrality) was the sort of Moose who wanders into the middle of the clearing with a high visibility jacket hanging from his (or her) antlers on the first day of the hunting season.

Best Wishes
Paper Tiger

PT, I like your posts and comments....just like poem....

King1212

25-03-2016, 03:04 PM

Company operation update is due on 13th April. Can not wait to see the result..so far they always achive thier revenue target. I think the company's execution on USA growth is on the right track as USA one of the most generous nations in the world.

http://edition.cnn.com/2015/11/09/africa/world-most-generous-countries-index/

also....bill payment app on the way!7948

Leftfield

01-04-2016, 09:47 AM

A useful cash injection and a move to concentrate on core business.....

"Pushpay Holdings Limited (NZSX:PAY) (‘Pushpay’ or ‘the Company’) announces that it has sold its SMS gateway business Run The Red to Modica Group for an aggregate value of $4,500,000.
Run The Red integrates text messaging with core business applications using an SMS Gateway and facilitates personalised communication.....

Pushpay’s CEO, Chris Heaslip said, “Following a competitive process, which attracted a number of interested parties, we are pleased to sell Run The Red to Modica Group on favourable terms. Moving forward we will focus our resources on our rapidly growing core business, which provides simple, intuitive and secure payment solutions to our merchants.
“The sale of Run The Red will maximise value to Pushpay’s shareholders by freeing up capital for investment. In particular, the sale allows us to redeploy capital received to support our growth strategy in the USA and our target of reaching $100 million of Annualised Committed Monthly Revenue by August 2018,” he said.

youngatheart

04-04-2016, 01:16 PM

Leftfield

04-04-2016, 02:17 PM

"our target of reaching $100 million of Annualised Committed Monthly Revenue by August 2018" compare that statement with PEB's promise to do that "within 5 years." Though I actually believe PAY will do it.

Perhaps the market agree's with you. As a PAY holder I'm heartened by the 12% SP gain in the last week (incl today's 5% gain) As a PEB holder, I'm patiently waiting, while pleased to be up by a similar percentage this year!:)

kizame

08-04-2016, 06:20 PM

I'm quietly picking this stock as the next DIL.
It has such great prospects and overshoots revenue targets,and quietly being accumulated big time right now.
The uptrend is looking real good.

King1212

08-04-2016, 08:19 PM

iceman

09-04-2016, 12:22 AM

I'm quietly picking this stock as the next DIL.
It has such great prospects and overshoots revenue targets,and quietly being accumulated big time right now.
The uptrend is looking real good.

Agree and hope you're right. I put a decent chunk of my DIL money into this one at end of Feb and its gone up a whopping 54% since then. Very much looking forward to the next report. If they continue meeting or overshooting targets, this one may have a long way to run

kizame

10-04-2016, 07:42 AM

Agree and hope you're right. I put a decent chunk of my DIL money into this one at end of Feb and its gone up a whopping 54% since then. Very much looking forward to the next report. If they continue meeting or overshooting targets, this one may have a long way to run

Great work.its a great feeling when it pays off. I bought later at 2.38 and am considering pyramiding into this one.

Lewylewylewy

10-04-2016, 08:07 AM

Just looking at the PAY graph, why did they fall sharply this year?

Leftfield

10-04-2016, 08:09 AM

I'm quietly picking this stock as the next DIL.

Yes, looks like a happy future for PAY at the moment with exciting growth plans (and a good record of delivering to-date).....I just hope it ends better than DIL!!

iceman

10-04-2016, 08:23 AM

Just looking at the PAY graph, why did they fall sharply this year?

They didn't. It was a 1 for 4 share split

kizame

11-04-2016, 11:21 AM

Yes, looks like a happy future for PAY at the moment with exciting growth plans (and a good record of delivering to-date).....I just hope it ends better than DIL!!

But if it doesn't,you take your money off the table and walk way knowing you made a good return to that point.
I'm happy whichever way it goes,but yes it would be way better to develope into a mature company,but I doubt being an NZ company it will ever make it that far.

Absolute144

11-04-2016, 01:39 PM

But if it doesn't,you take your money off the table and walk way knowing you made a good return to that point.
I'm happy whichever way it goes,but yes it would be way better to develope into a mature company,but I doubt being an NZ company it will ever make it that far.

Does that mean you consider there is more likelyhood of a takeover before it develops into a mature company?

kizame

11-04-2016, 03:18 PM

Does that mean you consider there is more likelyhood of a takeover before it develops into a mature company?

This can play out in a few different ways,you just need to understand that,especially successful tech companies from this tiny country with huge expertise,that their biggest tech savvy market is going to be the US where the bigger boys are always keeping an eye out for additional bolt on aquisitions. Thats probably going to be your best bet with a successful nz co.
Other than that,I don;'t want to get negative about what can happen along the way to companies that lose direction,but this one so far looks a goody.

Leftfield

11-04-2016, 03:35 PM

Does that mean you consider there is more likelyhood of a takeover before it develops into a mature company?

While NZ shareholders may see some potential in PAY (and XRO for example), you can be sure that many other companies are watching these companies with interest and are possibly ready to pounce. Personally I would prefer both these companies to avoid being taken over, and continue their success to become large NZ companies on the world stage.

Absolute144

12-04-2016, 01:24 PM

Thanks Kizame and left field

King1212

13-04-2016, 10:51 AM

Excellent result!!!!

babymonster

14-04-2016, 09:20 PM

Buy on the rumor and sell on the fact

King1212

14-04-2016, 10:27 PM

Buy on the rumor and sell on the fact

Profit taking..not to worry if u r a long term holder...

Jinx

14-04-2016, 11:17 PM

Am I missing something for today's share price? The companies employees have taken on more shares after a stellar ACMR increase

nextbigthing

15-04-2016, 09:49 AM

Am I missing something for today's share price? The companies employees have taken on more shares after a stellar ACMR increase

Jinx, this is my understanding. There's two types of shares. Ordinary and those in escrow (which basically means in this case ones that couldn't be sold yet). Together, ordinary and escrow make up all of the shares on issue. Previously 30.027% of all the shares issued were escrow shares. After this announcement, approx 1.5% have come off escrow and can now be sold (leaving 28.578% on escrow still). So all that has happened is they have changed designation from escrow to ordinary shares. The total number of shares on issue has not changed at all, just their designation.

It gets a bit confusing because the total number in class and total number of shares appears to have changed. This is because they've gone through a 1:4 split. Ie for each share held at the last disclosure (Oct 2015) everyone got 4 shares instead. If you multiply the total in class number in the last announcement (Oct 2015) approx 57.7M x 4 = 231M (231M is new announcement figure). So the total issue hasn't changed at all. 1.5% of the escrow shares are now ordinary shares which can be sold on market and the total holding got multiplied by 4 in an earlier split, just to confuse people like us.

This could explain the drop in price, 1.5% of the shares can now be sold and people are cashing in on the great progress. Who knows. A big thing to consider is approx 25% of the shares come off escrow on 31 July.

Hope that helps.
NBT

Ps here's the annoucnement link https://www.nzx.com/files/attachments/233707.pdf

Jinx

17-04-2016, 10:30 AM

Thanks nextbigthing, very in depth and well explained answer! :)
Friday was the end of the sp dip by the look of it, do we think it's on it's way up from here?

sb9

19-04-2016, 02:31 PM

Thanks nextbigthing, very in depth and well explained answer! :)
Friday was the end of the sp dip by the look of it, do we think it's on it's way up from here?

Don't think so, looks like someone want to get out pretty desperate...

Jinx

19-04-2016, 02:31 PM

Do we think it's on it's way up from here?

Jesus down 12% so far today, any guesses on where the bottom will be :o

sb9

19-04-2016, 02:32 PM

Jesus down 12% so far today, any guesses on where the bottom will be :o

Donno, had it under my radar for a while. Think might stay out of it for now.

babymonster

19-04-2016, 08:27 PM

Under 2 is more reasonable

Jinx

19-04-2016, 10:38 PM

Under 2 is more reasonable

There has been nothing but outstanding positive news since November 2015, where the price was $8 ($2 per share after the split). What makes you think the price should be back at Nov15 prices?

sb9

20-04-2016, 11:41 AM

Under 2 is more reasonable

That's where I'm picking it might go down to, though its up today I think the selling pressure has not gone away.

Hectorplains

20-04-2016, 12:29 PM

There has been nothing but outstanding positive news since November 2015, where the price was $8 ($2 per share after the split). What makes you think the price should be back at Nov15 prices?

The end of the escrow period for 30% of their stock looms like a North Atlantic iceberg. Given the eagerness of the much smaller number that bailed last week (less than 2%) when that escrow ended and the subsequent price plunge are you really going to be betting otherwise for July?

Leftfield

20-04-2016, 02:10 PM

Sounds scary.... however you're assuming they all want to sell and/or that there is no demand as no other large investor(s) is/are happy to pick up the volumes.

Only time will tell.

sb9

28-04-2016, 10:37 AM

Might see sub $2 sooner by the looks.

Jinx

28-04-2016, 02:27 PM

PAY is down 37% since the high on the 11th of April.
I had no hesitation in buying more on today's low, PAY is solid growth company that has put out nothing but positive results. This time last year they had ~1000 Merchants, now their quickly approaching 4000. If the price keeps dropping I'm pretty happy to continue to pour money into what appears to be an incredibly well managed company.

Jinx

16-05-2016, 11:44 AM

Interesting to see very little movement considering Annual investor results are out in two days. I'd guess the FY17 forecast will be nothing but rainbows and sunshine :t_up:

Harvey Specter

16-05-2016, 11:53 AM

Interesting to see very little movement considering Annual investor results are out in two days. I'd guess the FY17 forecast will be nothing but rainbows and sunshine :t_up:Praise the Lord. Amen.

Jinx

16-05-2016, 11:56 AM

Praise the Lord. Amen.

I hope you've been attending your local US church sending thousands though pushpay ;)

kizame

16-05-2016, 03:21 PM

I notice there is a local company offering the same service for charities,churches etc. Forget the name but a lady at the helm it seems.

SCOTTY

16-05-2016, 04:08 PM

Beware.
There is a scam doing the rounds using the spelling "PeyPal" - be aware!!!

King1212

16-05-2016, 05:41 PM

Pushpay also get into event reminder text and bill reminder text messaging where a client can pay the bill or buy the tickets using their app....

Leftfield

18-05-2016, 08:46 AM

Impressive results now confirmed.....

8045

Jinx

18-05-2016, 09:39 AM

Interesting to see very little movement considering Annual investor results are out in two days. I'd guess the FY17 forecast will be nothing but rainbows and sunshine :t_up:

And we have a winner? :t_up:

Jinx

18-05-2016, 10:26 AM

Overall loss increased 150% causing a sp drop?
I'll happily keep buying until 2017 where pushpay forecasts a net profit. I was astounded to see a sp drop this morning with revenue up over 700%

Balance

18-05-2016, 10:33 AM

Overall loss increased 150% causing a sp drop?
I'll happily keep buying until 2017 where pushpay forecasts a net profit. I was astounded to see a sp drop this morning with revenue up over 700%

Capital raising underway as cash will only last for another 6 months.

http://www.nbr.co.nz/article/pushpay-targets-us-investors-raise-new-capital-189130

No hurry to buy on market.

Jinx

18-05-2016, 10:47 AM

Capital raising underway as cash will only last for another 6 months.

http://www.nbr.co.nz/article/pushpay-targets-us-investors-raise-new-capital-189130

No hurry to buy on market.

So the idea they might run out of money and an nbr article spooked some investors?
Money is likely to be thrown in the direction of Pay given their growth and potential for further growth.

Clearly it's not all sunshine and rainbows, but still I'd consider today's result a stellar one

Balance

18-05-2016, 10:49 AM

So the idea they might run out of money and an nbr article spooked some investors?
Money is likely to be thrown in the direction of Pay given their growth and potential for further growth.

Clearly it's not all sunshine and rainbows, but still I'd consider today's result a stellar one

It is a good result.

If you are an institutional investor however, no reason to buy on market - wait for the stock to come to you.

Jinx

18-05-2016, 10:55 AM

It is a good result.

If you are an institutional investor however, no reason to buy on market - wait for the stock to come to you.

Thanks for the conversation and tutoring!
Although I may be excitable I still have no idea 99% of the time :)

Balance

18-05-2016, 11:08 AM

Thanks for the conversation and tutoring!
Although I may be excitable I still have no idea 99% of the time :)

Pleasure, Jinx. That's actually what this forum is for and about - exchange of ideas and thoughts. Gets a bit acrimonious at times but then, investing one's hard owned money is serious business!

sb9

18-05-2016, 11:42 AM

Did contemplate dipping my toes in past few days on this one, however thought I would wait and glad I did.

King1212

18-05-2016, 01:38 PM

Comment from the moose

by The Moose 2 hours ago Another great result from PAY, with a good presentation to boot. It is good to see that the company has a clear-cut pathway to break-even and profit (glances eyes at Rod Drury...) and is looking to expand its shareholder base via its key market. The question now is, will PushPay raise capital at a premium to market price, like Xero did? Considering the growth curve and how tightly held the shares have been, I would consider this a possibility. I also hope that NZ shareholders keep a tight grip on their shares, as we have seen what an ASX listing can do to the investor register of listed companies for high-growth companies (see: A2 Milk).

Leftfield

18-05-2016, 02:18 PM

It is a good result.

If you are an institutional investor however, no reason to buy on market - wait for the stock to come to you.

You may well be correct Balance. I was originally quite sceptical re PAY. However I've been a happy holder for some time. The PAY products and the target market are very sound, the management have proved to be adept and always 'under promised and over delivered.'

While Balance warns of the possible dire outcomes of revenue raising, I well recall the success when XRO raised capital at above market SP's on two occasions. The same outcome is possible with PAY. Time will tell.

As a long term investor I remain a happy holder.

TFA

18-05-2016, 04:42 PM

When you work through the sales growth target the $100 ACMR by Feb 18 appears conservative as it assumes sales growth as remaining constant from the quarter they have just had i.e increase in $8.68m/quarter. When you consider previous growth acceleration has been for the last quarters 43%, 46%,55%,69%,74%,273%. While you may expect the rate of growth in percentage terms to drop, I feel it is very conservative to assume there would be no acceleration. I would have thought based on past trends an acceleration rate of 20-40% would seem quite reasonable which could mean achieving the target of $100m between Sep-Dec17...not that far away....
If you think this is a good stock to be in then I don't think it is wise to hold off as we are in a hyper growth situation here where the market may start to comprehend the scale of what appears to be unfolding here very quickly.

Leftfield

18-05-2016, 07:31 PM

Good post TFA. Let's hope you are right.

Today's SP reaction was rather muted.....however it took the market a few days to digest the XRO result, so tomorrow will be interesting.

King1212

18-05-2016, 08:44 PM

Happy long term holder...may PAY shareholders blessed with prosperity and high Return...praise lord....Amin!!

Jinx

24-05-2016, 06:08 PM

Down over 3% today, I guess unsurprising.
Under $2 and I'm happy to keep accumulating again

sb9

24-05-2016, 08:18 PM

Down over 3% today, I guess unsurprising.
Under $2 and I'm happy to keep accumulating again

Yep, might dip my toes if it drops below $2 mark.

Jinx, tht I saw your comment on CAV thread this morning, can't see it now. Sorry to post on this thread.

Jinx

24-05-2016, 08:37 PM

Yep, might dip my toes if it drops below $2 mark.

Jinx, tht I saw your comment on CAV thread this morning, can't see it now. Sorry to post on this thread.

Under $2 seems like a steal!
Yeah sorry about that confusion, I posted in regards to the half year report that was said to come out "mid may" on their website but when I called to ask about it I was (embarrassingly) informed that the half year report already came out in early March. I was just confused and waiting for a report that was put out a month and a half early!
So deleted it because the report is already out! Still looking for more price sensitive releases from Cav though, sorry for wrong thread all

sb9

27-05-2016, 10:22 AM

Under $2 seems like a steal!

Well Jinx there we are, right on $2 mark...

Jinx

27-05-2016, 10:29 AM

Well Jinx there we are, right on $2 mark...

A very rough morning, happy to lock PAY away and throw away the key though.
They'll continue to produce promising news and be profitable this time next year

As Balance pointed out there's no need for institutional investors (or anyone for that matter) to worry about the market price when they'll get private offers or a ASX listing.
As well as 30% of shares coming off Escrow in July

HeartOfGold

08-06-2016, 09:09 AM

https://www.nzx.com/companies/PAY/announcements/283635

platform volume broke 1B

King1212

08-06-2016, 09:56 AM

https://www.nzx.com/companies/PAY/announcements/283635

platform volume broke 1B

Praise lord...amin!!!

iceman

08-06-2016, 10:18 AM

But what does it really mean and how will PAY translate this into revenue and profit ? That is yet to be seen
Discl. Hold

HeartOfGold

08-06-2016, 10:21 AM

Big selling depth coming out of woodwork at $2

EDIT:
I like the company but I always get the feeling I'm going to be stung on the smaller, illiquid stocks.

HeartOfGold

13-06-2016, 06:45 PM

Any news on what caused the jump today?
Quick scour of google hasn't shown anything.

Unfiltered interview included as I notice it hasn't been linked - https://unfiltered.co.nz/gcs/eliot-crowther/

King1212

13-06-2016, 07:19 PM

Any news on what caused the jump today?
Quick scour of google hasn't shown anything.

Unfiltered interview included as I notice it hasn't been linked - https://unfiltered.co.nz/gcs/eliot-crowther/

thank u for the link....

noted pushpay invests in thier staff heavily.....30 mnt gathering on every Friday to reflect the week achievement! Very pleased to hear that...

King1212

22-06-2016, 04:21 PM

http://www.nbr.co.nz/article/pushpay-board-seeks-increased-director-pay-wants-us-based-directors-b-190645

Jinx

24-06-2016, 02:23 PM

http://www.nbr.co.nz/article/pushpay-board-seeks-increased-director-pay-wants-us-based-directors-b-190645

Interesting that they are looking to pay US directors so much while still yet to be profitable. Sp has been a rollercoaster the past week or so but I'm still quietly confident that there'll continue to be large growth.

sb9

30-06-2016, 12:22 PM

Interesting that they are looking to pay US directors so much while still yet to be profitable. Sp has been a rollercoaster the past week or so but I'm still quietly confident that there'll continue to be large growth.

https://nzx.com/companies/PAY/announcements/284939

Hey Jinx, couldn't work out from announcement today at what price the US Capital raise is at...any thoughts?

King1212

30-06-2016, 01:48 PM

https://nzx.com/companies/PAY/announcements/284939

Hey Jinx, couldn't work out from announcement today at what price the US Capital raise is at...any thoughts?

I emailed Sarah, hopefully she is going to reply...

sb9

30-06-2016, 02:08 PM

I emailed Sarah, hopefully she is going to reply...

Thanks for that King1212.

King1212

08-07-2016, 12:13 PM

Reply from PAY

Thank you for your email. We are yet to set a price for the USA capital raise and will update the market in due course.

Kind regards,
Sarah

https://s3.amazonaws.com/pushpay-app/merchant-resources/email-sig-logs/assets/Pushpay_logo.png (https://pushpay.com/)

Sarah Elder
Investor Relations
D: +64 21 637 449

sarah.elder@pushpay.com
Pushpay.com (https://pushpay.com/)

kiora

08-07-2016, 12:56 PM

sb9

08-07-2016, 01:11 PM

Any guesses?
Mine $2.50-$3.00

My guess is between $2-$2.10 a piece.

kiora

08-07-2016, 03:11 PM

My guess is between $2-$2.10 a piece.

My guess is a bit more than this. MFI & RSI picked up a bit recently
SP bounced off 200dMA through 50 d back up to 10dMA but then what do I know :)

I,m hoping capital raise similar to xero well above present SP with PAY growth metrics :)

I bit of a punt to be sure !

King1212

08-07-2016, 04:36 PM

My guess is a bit more than this. MFI & RSI picked up a bit recently
SP bounced off 200dMA through 50 d back up to 10dMA but then what do I know :)

I,m hoping capital raise similar to xero well above present SP with PAY growth metrics :)

I bit of a punt to be sure !

priase lord!...would be nice!

kiora

08-07-2016, 04:39 PM

priase lord!...would be nice!

Amen to that :)

King1212

13-07-2016, 09:30 AM

Amen!!!!!! Hallelujah!!!

https://www.nzx.com/files/attachments/239408.pdf

kiora

13-07-2016, 10:22 AM

Amen!!!!!! Hallelujah!!!

https://www.nzx.com/files/attachments/239408.pdf

Looks good
Cash & available funding line
31/3/16 $US11.17 cf
30/6/16 $US 11.64
I wonder if the $11m available in funding lines includes the increase in funding from Christopher & Banks that has increased its funding line from NZ $4m to $10m
I guess so therefore around $4.2 m NZ cash burn seems OK with headcount increasing by 40 mostly sales force

Red Bus

13-07-2016, 12:06 PM

"6.33 million Shares (approximately 66% of the total number of Shares) remain subject to escrow arrangements entered into at the time of PAY’s Listing on the NZAX. Shares equal to 36.78% of the total number of Shares will be released from escrow on 31 July 2015, and the balance will be released from escrow on 31 July 2016"

Any thoughts on the likely impact of this on share price?

kiora

13-07-2016, 04:19 PM

kiora

13-07-2016, 04:22 PM

My guess is between $2-$2.10 a piece.

Looks like you could be a bit light sb9

sb9

13-07-2016, 04:37 PM

Looks like you could be a bit light sb9

Well, they haven't disclosed that yet right? let's wait and see...

kiora

14-07-2016, 02:18 PM

Any one at the AGM?

King1212

14-07-2016, 06:17 PM

http://www.nbr.co.nz/article/mobile-payment-app-firm-pushpay-expands-faith-utilities-and-seeks-asx-listing-b-191625

Yoda

15-07-2016, 09:37 PM

King1212

15-07-2016, 10:42 PM

Does anyone see this as a threat to PushPay?
http://www.stuff.co.nz/business/money/82121584/anz-ceo-says-plastic-cards-gone-in-less-than-a-decade (http://www.stuff.co.nz/business/money/82121584/anz-ceo-says-plastic-cards-gone-in-less-than-a-decade)

mate...Pushpay is an app....where customers need to have he software n use thier bank card or credit card to donate to thier churches. I don't see above article is a threat..

Dilbert

16-07-2016, 09:55 AM

Sure its a threat, Pushpay has a nice niche in the faith sector and has some exciting ambitions in other areas like utilities. But, other digital payment systems are going to compete with it. Banks for example already have banking apps where you can pay bills. Question is can Pushpay compete in this area? If they can get support from the big utilities perhaps they can. But its a rapidly changing space - anything can happen.

Zaphod

17-07-2016, 08:48 AM

There's still a way to go before digital wallets are in mainstream acceptance. Paywave for example, is still controversial in some circles. I've received a few lengthy sermons on how evil and dangerous the technology is, without any real objectivity or facts to back up such assertions.

IMO we'll see industry consolidation. So my long term outlook for Pushpay would be as an acquisition or merger target.

Jinx

25-07-2016, 02:43 PM

https://www.nzx.com/files/attachments/239964.pdf

Even with concern about the upcoming share embargo directors still continue to jump on board.

kiora

25-07-2016, 04:34 PM

https://www.nzx.com/files/attachments/239964.pdf

Even with concern about the upcoming share embargo directors still continue to jump on board.

Yes not too shaby

King1212

26-07-2016, 11:17 AM

looking bullish today..something come up??? Fund raising successful???

Jinx

26-07-2016, 11:26 AM

looking bullish today..something come up??? Fund raising successful???

Always makes me nervous when there's a decent bull run with no reason that I'm able to decipher. Regardless I'm smiling!

Cheebz

26-07-2016, 11:32 AM

Always makes me nervous when there's a decent bull run with no reason that I'm able to decipher. Regardless I'm smiling!

THE Purshpay Director purchased additional shares.

http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11680789

King1212

27-07-2016, 02:08 PM

anyone able to get below paid content?

http://www.nbr.co.nz/subscribe/192130

Snow Leopard

27-07-2016, 02:25 PM

anyone able to get below paid content?

http://www.nbr.co.nz/subscribe/192130

Yes he says he had some spare change, even after renewing his NBR subscription.

Best Wishes
Paper Tiger

King1212

27-07-2016, 02:31 PM

Yes he says he had some spare change, even after renewing his NBR subscription.

Best Wishes
Paper Tiger

if u can not be helpful, why don't u stick your hand on your mouth???

Jinx

28-07-2016, 12:41 PM

Yes he says he had some spare change, even after renewing his NBR subscription.

Best Wishes
Paper Tiger

Paying $35 dollars a month to subscribe isn't really an option for a poor student investing any extra money in the nzx.

HeartOfGold

28-07-2016, 12:55 PM

Paying $35 dollars a month to subscribe isn't really an option for a poor student investing any extra money in the nzx.
Most University IP addresses have an NBR subscription; University of Otago, Victoria University of Wellington Library, AUT University are all on the top 50 subscription list.
Worth checking out next time you're at your University.

Jinx

28-07-2016, 01:28 PM

Most University IP addresses have an NBR subscription; University of Otago, Victoria University of Wellington Library, AUT University are all on the top 50 subscription list.
Worth checking out next time you're at your University.

Fantastic! Didn't realise this :)