Thank you for your informative reply. I could not find anything from their previous ANN to decide whether the number of check-ins is cumulative or not. However based on their wording on the ANN that they never used 'total check-ins', and they have stated in one of the ANN with a chart saying ' the check-ins grow the fasteset' with quaterly number difference is around 3M (sorry I forgot which ANN that was), I personally believe the check-ins is not cumulative otherwise they should be just stable.
I agree with your analysis about the mechant number. I guess they are now at a cross-section---i.e. are they big and good enough to attract mechant joining without spending too much for advertisement as well as retaining current mechants. If they fail to achieve either they will be in deep trouble. Nevertheless I believe they have done the right things at the moment to extend channels for their revenue.
I would like to see the potential positive effects regarding brand awareness and user feedback regarding the recent new features they add--i.e. loyalty card add-on as well as the postcoder.com.au. If they are proved to be attracting more users to be active and use the app I think their revenue is going to grow substantially with the potential advertisement rather than relying on the growth of number of joined mechants.
RXH Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
(20min delay)