Ann: Tyro Payments APS330 - 31 March 2022, page-7

You need to look at the business that is generating the bulk of the revenues and bottom line - that is growing pretty significantly.

The banking/loans etc business seems very slow, but to the extent it does not cost much to manage, it could be useful additional vertical given all the information they are capturing through the transaction side.

I still think their customer churn is too high and their margins continue to be challenged (hence no profits yet), but at a 30-40% growth rate, that operating leverage will come through quite quickly if they can manage their costs.

	Month	Days in mth	TV m	TV per day $	YoY TV	YoY TV/day
1	Jul-20	31.0	1,851	59,709,677	11%	11%
2	Aug-20	31.0	1,701	54,870,968	-4%	-4%
3	Sep-20	30.0	1,787	59,566,667	5%	5%
4	Oct-20	31.0	1,994	64,322,581	10%	10%
5	Nov-20	30.0	2,159	71,966,667	13%	13%
6	Dec-20	31.0	2,626	84,709,677	19%	19%
7	Jan-21	31.0	2,022	65,225,806	10%	10%
8	Feb-21	28.0	1,955	69,821,429	10%	13%
9	Mar-21	31.0	2,247	72,483,871	40%	40%
10	Apr-21	30.0	2,246	74,866,667	147%	147%
11	May-21	31.0	2,299	74,161,290	79%	79%
12	Jun-21	30.0	2,567	85,566,667	55%	55%
13	Jul-21	31.0	2,312	74,580,645	25%	25%
14	Aug-21	31.0	2,048	66,064,516	20%	20%
15	Sep-21	30.0	2,168	72,266,667	21%	21%
16	Oct-21	31.0	2,667	86,032,258	34%	34%
17	Nov-21	30.0	3,095	103,166,667	43%	43%
18	Dec-21	31.0	3,535	114,032,258	35%	35%
19	Jan-22	31.0	2,725	87,903,226	35%	35%
20	Feb-22	28.0	2,797	99,892,857	43%	43%
21	Mar-22	31.0	3,131	101,000,000	39%	39%
22	Apr-22	30.0	3,216	107,200,000	43%	43%