Ignoring bad debts, I think there's two things to focus on for any ZIP report. To do well, they need to do 2 things. Get more customers and get existing customers to transact more often.
Great report on the later (i.e. get existing customers transacting more often with a 33% increase in transaction volume)
Shocking report on the former (i.e. get more customers as they went backwards 2%)
Report suggests BNPL doing well (existing customers using it more and more) but doesn't suggest ZIP doing well (not getting more customers which will obviously limit growth). 12 months and no customer growth???
Disappointed. A lot was already priced in given previous announcements so I think we needed something extra in this report and the lack of customer growth is a surprise on the downside for me.
ZIP Price at posting:
84.0¢ Sentiment: Sell Disclosure: Held
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