Overall I’m pretty comfortable with this.CTO and COO moving to...

Overall I’m pretty comfortable with this.

CTO and COO moving to the advisory board is interesting (particularly after what RichyRich said haha). The bright side is that as long as the business is able to operate well, that cash-burn is likely to come right down due to less salary expense in overheads.

ACH & CC payment growth north of 40% is fantastic! We’ll definitely hit that run rate of >$1bn USD. If we take the current quarter for the payments biz and multiply it by 4, then AUD revenues would be >$10m a year from this business ALONE! and it would be EBITDA profitable with margins north of 30% I’d expect. Exciting stuff but doubt the market will reward the company for a while. If we can do what Affinipay have done and keep this growth rate at >35-40% for the best part of a decade this is going to be a very exciting business!

Lending slower than expected but I’d anticipate that June financing volumes will increase the performance a bit. Need lending to come back as it’s still a revenue and profit driver. BNPL ticking along but will be interesting to see what point that begins to slow.

interesting times - let’s see if any more of Ricky’s insights materialise…