I see some positives coming from this quarterly update, although...

I see some positives coming from this quarterly update, although most of the detail was announced in the Market Update on the 12/10. 

The direct to market opportunities seem to be paying off in terms of growth in recurring revenues (58% growth year on year), and the renewed contract with BNZ together with the material order cements the growth for the coming quarters. The new services provided by BNZ enabling high transaction merchants to process transactions through their payments platform, is a  huge winner for Mint. Think of all the high value and volume merchants BNZ have on their books!

In addition an interesting aspect of the MYOB contract for the new term which precludes a monthly fee collection, impacted revenues for the 1st quarter however a positive is the renewal of the contract for another 5 year term.

I find their refreshed market approach will yield some good rewards for Mint moving forward. Initial feedback from the market  in relation to the elimination of monthly fees - the traditional way of charging customer is a positive. As stated in the Quarterly update this has had " an immediate impact on the update of merchants in the Travel Retail and Hospitality segments'.

Although I would have expected some higher revenues this quarter, the green shoots are starting to show and it is becoming clearer on how they will be growing their revenues and most importantly recurring revenues over the coming quarters to achieve their target of break even cash flow position by the end of the FY19.  Together with $6.8M available they have plenty of fire power to spend on marketing and targeting prospects on their refreshed approach and focus on the customer experience.

I look forward to their next announcement coming up launching their "unprecedent partnership for the payments category". I wonder who this will be with,... stay tuned!