Ann: Appendix 4D & Half Yearly Report and Accounts, page-36

I am impressed with the company's numbers. Unlike other tech stocks, APT has turned a profit. It's US business has just started; thus growth potential is still huge. 1. Integrated Retail Merchants: Grown from 2,000 to 11,500 2. Underlying merchant sales (6 month period): Grown from $144m to $918m 3. Afterpay end-customers: Grown from 0.4m to 1.5m, and 90% of transactions are now returning customers 4. Merchant fees (6 month period): Grown from $6m to $37m. Incredible numbers for a start-up! I agree with Goldman Sach's Buy rating and FV of $8.20+