Q3 Trading Update Guesses, page-13

Yeah it is a phenomenon. A rare successful fintech, competing with the lumbering banks, dressed up as a penny dreadful and now revealed it seems.

Gone from 2x Australian sales to about 4x sales by my calcs but that is still cheap given grow rate of recurring revenue stream.

And still just getting started, see chart from presentation at the half year:


Hard to know how far stock will go. I thought jump to $400m market cap, hit NZX 50 and spike further but looking at the NZX rules, that may not be the case. With the dual listing, the shares get allocated to NZ according to reported revenue so will need much higher cap I think. Still, should attract more institutional money as gets bigger and more liquid.