Ann: Q3 FY22 Quarterly Activities Report (App 4C), page-20

1) It would of been nice to pull out the MSV associated with the Visa and MasterCard launch.

2) Looks like they are still developing the product to better market the product given they released a new upfront deposit model.
"Splitit launched new plan’s allowing merchants to pay twice a month and take a 30%-50% deposit upfront,
either non-funded or funded.'"

3) I mentioned this point this week regarding the RBA will be increasing interest rates. It is not only hard for the BNPL loan providers but also the merchants who are trying to provide the same loan arrangements. Both are screwed!
"This further differentiates us in an environment where the rising interest
rates are making merchant funded instalments more expensive"

4) Looks like they are cleaning up operating expenditure which looks good.
40% YoY reduction in operating expenditure.

In Summary - looks like they have got their business model right, product is tweaked, costs are coming down and making firm inroads into education and rentals. Bring on christmas sales and a few big merchant names to trigger merchants to opt-in with the Vias/MC portals!

Without being too optimistic i can see this company gearing up for an outstanding 2023.
dyo