The BNPL sector has been smashed because of the launch of Apple Pay Later. Perhaps it is Apple getting into FinTech that has us and many others smashed yesterday.
If Apple gets into FinTech, expect them to take the field. They can offer BNPL with no fees for 6weeks and have the muscles to lead the space.
Thankfully we are product diversified and AutoPay is key. Further, I think pivoting to online banking for the next generation is going to be key. This company has to keep moving or opportunities will be gone.
At current valuations and run rate of approximately 20% Cash Profit, and revenues hitting $35 per quarter. We have a conservative $150m annual revenues and $30m in cash profits potentially coming up next year.
EPS will be circa 7x at current valuations and we are still growing. Hope we grow to take more of the Auto Lending pie. We are at an early stage with AutoPay but not insignificant.
Ann: 3Q22 Trading Update, page-44
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