PayGroup (ASX:PYG) achieves improved results in FY21

• Payroll and human capital management company PayGroup (PYG) has recorded an impressive 2021 financial year which it counts from April 1 2020 until March 31 2021
• PayGroup achieved its first full year of positive EBITDA which improved from a $0.6 million loss in FY20 to $1.6 million in FY21
• The company attributes this to revenue growth, strong sales momentum and increased cost efficiencies.
• Both annualised recurring revenue (ARR) and statutory revenue grew over the relevant period to $27.2 million and $16 million, respectively
• PayGroup also celebrated a 149 per cent growth in contract wins which can be credited to its solutions and highly experienced sales teams
• Looking ahead, the company is well capitalised with $12.2 million in cash to continue its momentum

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