Lets see how they go in the US. Laybuy would be testing the US market pre-Christmas with a view to a progressive launch in the New Year, its a good idea since it can at least accelerate their earnings. It may not be a quadpay, APT etc but if they can make some market share (even small) then at least the share price to earnings will be a lower multiple. So to me that launch gives us something to look forward to. Hopefully by end of March 31 which is the end of the fin year in NZ we will start to here if that has been mildly successful.
Lets be real, if Zip Co revenue came in at $27.6m for October 2020, with a turnover of $401.1 million. Quadpay has 328,000 downloads for the month of October., Laybuy got that in 6 months. I certainly dont expect Laybuy to catch up or even come close realistically, however its not unrealistic they should be aiming to grow to get at least 100-150m annually. They have some learnings to grow and apply in the US hopefully.
LBY Price at posting:
$1.37 Sentiment: Hold Disclosure: Held
