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Ann: Zip Completes $120m Oversubscribed Institutional Placement, page-113

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TheGoldBear

1,517 Posts.

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17/12/20

20:46

Post #: 49663719
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Originally posted by Andredamus1: ↑

Afterpay's EBITDA margin in AU is approaching 40% (it's incremental EBITDA margin from FY19 to FY20 was over 50%).

I am confident that the US will show positive EBITDA in FY21, however that will be on ~$400m of revenue which shows the scale you need to reach in the US to break even. From FY22, the US operations will be showing meaningful profitability.

I suggest you analyse Note 2 to Afterpay's financial statements to get an understanding of the way each of the geographies are contributing to the total result. Focusing on the group result is incredibly lazy and essentially meaningless.

The Chrome Extension product which Quadpay is offering in the US is not the same as the traditional product (which Afterpay offers) as the merchant is not paying any fee to Quadpay. This is a loss making product which is demonstrated by the carnage it wreaked on Klarna's FY19 results when they rolled out their Ghost Card in the US last year.

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"as the merchant is not paying any fee to Quadpay"

you clearly have no idea what youre talking about, afterpay shill

Z1P Price at posting: $5.63 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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