How are you calculating average customer spend? I believe it...

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Andredamus1

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19/07/18

12:05

Post #: 34446495
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Originally posted by vboy ↑

ASSESSMENT:

- Net transaction loss to be stable at 0.7 or 0.8% .
-- No H2 updated figures provided.

- Customer numbers to at least 2.1 million, however if growth has ramped up, especially with new US customers being counted, we could see 2.2 million. (up from 1.8)
-- 2.2 announced.

- In store locations above 10,000 stores (up from 7,000)
-- 10,000 announced

- Average customer spend to have rebounded in the quarter to ~$330 (up from $294)
-- $335 estimated based on announcement

- Any mention of NZ at all then I'll be happy (they have never mentioned it, but progress looks better this quarter)
-- NZ update provided (finally)

- Additional merchants signed up in the US beyond those 'announced' on US shop directory.
-- No new information provided.

Adding to that I'd like an update on the product enhancement measures they announced in the last update.
-- All implemented (which is good)

It would be great if they mentioned something about financing the growth, whether it be that they continue to be in a good position, or announce the 200 million facility that has been mentioned.
-- Facility progressing along (should be announced sometime in next 3 months)

I'd say the only disappointing news was the ceasing of quarterly updates as they are a good provider of information for my investment thesis.

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How are you calculating average customer spend?

I believe it should be: total underlying sales for period / average number of customers in period.

So for Q4 it is $736k/2.0m = $368 (compared with your $330)
and Q3 was $530k/1.65m = $321 (compared with your $294)

APT Price at posting: $12.62 Sentiment: Buy Disclosure: Held
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0 Great analysis

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