Nice operating leverage thanks to increase of GM (68 % vs 65 %) and good control of operating costs (+ 16 % vs + 53 % for revenues).
Real performance to be able to increase revenues by 53 %, while sales and marketing costs decreased by 9 %
(sales and marketing costs represented almost half of their operating costs 1 year ago). Obviously, their effort of marketing was much more focused. I guess on larger churches.
Ann: Pushpay 2021 Interim Results Announcement, page-9
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