PPH - PushPay (Church/donor software.)

[BlackPeter]

Hey BP, you didn't copy that response from early in the DIL or ATM threads did you ? Reminds me of that discussion way back when, like quite a few comments on here of late :-)
Not saying they're wrong (in fact agree with many) but believe only time will tell when one invests in relative startups like PPH, DIL and ATM early on.

I am sure you can find similar comments as well on the WYN, PEB, EVO, MPG, IQE or CBL threads ; And yes - you are right, only with 20/20 hindsight do we know whether raised concerns eventuated or not.

This is the nature of uncertainty. The future is fuzzy and even if we are able to calculate likelihoods we don't know whether risks will eventuate or not (otherwise they would not be risks but certainties) .

So - what exactly does it prove that some posters pointed as well to risks in companies which happened to be (with hindsight) successful?

Looking at PPH - I never said that there is no chance of them turning into a sustainable business. I just find it difficult to imagine credible future revenues and margins for them which would justify the current share price. Having said that - it is not unusual for SP's to get ahead of themselves and to overshoot the securities long term value. This is still much more difficult to predict and the domain of traders ...

[iceman]

Totally agree BP. My post was just tongue in cheek. I only pointed to PPH, ATM and DIL as I invested in them but never in the others (except PEB for 1 week) you mentioned. All these companies are inherently difficult to assess and guess where the future will go for them, but of course we all try and have to rely on our own best guess. Many posters believed DIL would never be any good as they had only one product, like we're hearing with PPH.
But the discussion here is mostly very helpful and good to see the different views people hold.

[Ghost Monkey]

yeah, sorry, right you are Iceman. Not sure what I was remembering. Some other company perhaps. Calendar year 2017 became December 2017 and now December 2018. Beagle's prediction 1Q18.

[steveb]

Hey BP can you not see any growth coming from other countries or other applications other than religion.I can so much so that I just bought some more.There are huge markets opening up all the time,as the world seems to go online,and not just financial ones Push Pay can be used for countless other applications in the information swapping markets etc.

[BlackPeter]

Hey BP can you not see any growth coming from other countries or other applications other than religion.I can so much so that I just bought some more.There are huge markets opening up all the time,as the world seems to go online,and not just financial ones Push Pay can be used for countless other applications in the information swapping markets etc.

Absolutely - and there are only a million other companies operating in the same domain (and some very succesful and much bigger than PPH).

I am sure that PPH will play them all as the Silver ferns played Malawi ...

OK - withdraw and apologize ... of course there might be a chance for them to grow into other areas, similar to PEB turning successful in Singapore, Spain, NZ or Australia. However - this growth into different industries or countries does not seem to be that easy.

Didn't they talk already years ago about moving into the education sector? I would not know whether they have there a fighting chance, but if they do, than they better ramp up their sales staff again. Ouch - more cost - later break even, another delay ...

[Beagle]

I think the most interesting aspect of this most recent release was they have changed yet again what yardstick they're measuring their success upon.
If my memory serves me correctly they changed their ACMR calculation methodology a number of times last year.
Now they are saying their emphasis is on GAAP, (generally accepted accounting principle's) for measurement of revenue.
A cynical bean counter could very easily make the case that this latest change is yet another change / attempt to show their results in the absolute best possible light.
One of the most fundamental underlying basics of accounting is that of consistency. Whatever measurement yardstick you use, make it consistent.
https://www.aicpa.org/Research/Stand...s/AU-00420.pdf
PPH the masters at creativity and appear to have ignored conventional generally accepted accounting principle's right up to the point where it first suits them...does that seem a little odd to anyone else ?
Any way you slice and dice this it would appear the easy low hanging fruit, (the big churches) has already been picked and the growth rate is declining.
My personal measurement yardstick favorite is earnings per share.
I am just a simple dog and these interestingly different multiples of earnings measured so many varying ways I have lost count, to suit the various circumstances is far too creative for my liking. Whether their growth ever translates into real earnings is where all the doubt lies for me. Glad to be out and have my previous stake in something far more tangible, (Cash).

[Ghost Monkey]

Credit to Beagle for getting through that post without mentioning a loss of 'faith', it must've been tempting....

[dodgy]

I think the most interesting aspect of this most recent release was they have changed yet again what yardstick they're measuring their success upon.
If my memory serves me correctly they changed their ACMR calculation methodology a number of times last year.
Now they are saying their emphasis is on GAAP, (generally accepted accounting principle's) for measurement of revenue.
A cynical bean counter could very easily make the case that this latest change is yet another change / attempt to show their results in the absolute best possible light.
One of the most fundamental underlying basics of accounting is that of consistency. Whatever measurement yardstick you use, make it consistent.
https://www.aicpa.org/Research/Stand...s/AU-00420.pdf
PPH the masters at creativity and appear to have ignored conventional generally accepted accounting principle's right up to the point where it first suits them...does that seem a little odd to anyone else ?
Any way you slice and dice this it would appear the easy low hanging fruit, (the big churches) has already been picked and the growth rate is declining.
My personal measurement yardstick favorite is earnings per share.
I am just a simple dog and these interestingly different multiples of earnings measured so many varying ways I have lost count, to suit the various circumstances is far too creative for my liking. Whether their growth ever translates into real earnings is where all the doubt lies for me. Glad to be out and have my previous stake in something far more tangible, (Cash).

Beagle old woofer,
Maybe PPH is readying for a Nasdaq listing where rules/accounting matters?
-dodgy

[winner69]

Beagle old woofer,
Maybe PPH is readying for a Nasdaq listing where rules/accounting matters?
-dodgy

Yes revenues are what matters for the Nasdaq

Probably need to do quarterly accounts ..that will be fun

Have asked when we might see historical revenue numbers by quarter so we can make better assessments that the more than 52% more than pcp.

[hardt]

Not sure if anyone read the Dec - 17 update or not, assuming literacy is not an issue this result was like inline with what ( expectations should have been )...

EX DEC17 BREIFING:

"Given seasonality, we expect ACMR to decrease over the current quarter ending 31 March 2018, before steadily growing over the rest of the calendar year to 31 December 2018. Pushpay expects to grow its ACMR based on further development of its product, direct sales, referrals strategy and through targeting customers that have existing relationships with Pushpay’s strategic channel partners and other distribution partners" - check
"Pushpay will begin providing quarterly revenue targets when it releases its quarterly operational update for the 31 March 2018 quarter on 11 April 2018. From the 30 June 2018 quarter and onwards, Pushpay will release its quarterly operational updates on the first Wednesday of the second month following each quarter end. Please refer to the end of this announcement for upcoming investor dates." - check
"Pushpay remains in a position to reach its targets of FY18 NZ GAAP revenue guidance of US$70 million and breakeven on a monthly cash flow basis prior to the end of calendar 2018." - check

Trend is intact.

PPH ARPC.CUST.JPG