@Dineen Couldn't see anything attached to your post.
I was less interested in the 'story' and more wanting to go over the actual numbers the company just released and was curious if others had a view/interpretation.
Through some trial and error, if assuming that daily transaction volume increased throughout the whole period (not wildly fluctuation up/down) then I came to the following for EU card processing:
Approx $53mil GPTV processed from 1 Feb to 30 March or an average of $900k DPTV. I removed approx $3mil of the $56mil processing to allow for the period from 23 Jan to 31 Jan.
On 1 Feb DPTV of around $391k
By 30 March DPTV reaching $1.4mil (260% increase)
With the average of those two numbers matching the approx $900k average DPTV for that period.
There are some assumptions factored in but the DPTV reached by the very end of the period if near to being accurate translates to an annual estimate run rate of $511mil GPTV at 30 March. Getting much closer to that target of $880mil.
So significant ramp up is in progress that may well indicate some merchants are already processing above their contracted GPTV as this is what is being achieved from only 13 of 30+ contracted merchants.
As for actual revenue from the announcement, that is a bit easier to calculate, at least gross profit is.
GPTV processed for the period of 23 Jan to 30 March was $56.23mil. They are hoping to achieve >100bps gross profit, but more like 130bps gross profit. The Ann said they were approaching their guidance figure for GP margin. So to simplify, lets say they achieved 100bps average GP for the period.
$56.23m x 100bps = $562k in GP from EU card processing from 23 Jan to 30 March.
Actual cash receipts will be higher as they will factor in revenue inclusive of inter charge and for any third party network costs that were being weeded out.
Obviously this is only one stream of revenue from EU and also not for the whole quarter, just the period mentioned in the announcement.
ISX Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
