Paysauce Limited · NZX:PYS
Paysauce — Shareholder Meeting (September 2024)
27 slides from Paysauce's shareholder meeting presentation, Sep 19, 2024
Slide 1: Annual Shareholder Meeting 19 September 2024
Annual Shareholder Meeting 19 SEPTEMBER 2024
Slide 2: Disclaimer
Disclaimer ● The information in this presentation is of a general nature and does not constitute financial product advice, investment advice or any other recommendation. Nothing in this presentation constitutes legal, financial, tax or other advice. ● This presentation should be read in conjunction wi
Slide 3: Board of Directors
Board of Directors Shelley Ruha Michael O’Donnell Non-Executive Director Non-Executive Director (Independent), Chair (Independent) Asantha Wijeyeratne Mark Samlal CEO & Co-Founder, Director Non-Executive Director (Non-Independent) (Independent) Gavin Thompson Jim Sybertsma Non-Executive Director Non
Slide 4: Executive team
Executive team Asantha Wijeyeratne Jaime Monaghan CEO & Co-Founder Chief Financial Officer Jacques Labuschagne Jess McLean Chief Technology Officer Chief Product Officer From 1 Oct 2024 From 1 Oct 2024 Troy Tarrant Mat Stokes Co-Founder & CTO Chief Operating Officer Until 30 Sep 2024 Until 30 Sep 2024 4
Slide 5: Agenda
Agenda Chair’s Address CEO’s Address Financials Resolutions Other Business & Shareholder Questions 5
Slide 6: Chair's Address
Chair’s Address Shelley Ruha 6
Slide 7: We delivered on our strategic objectives
We delivered on our strategic objectives We reinvested for long term growth. We obsessed over our customers. We strengthened and developed win-win-win partnerships. We attracted and retained awesome people. 7
Slide 8: CEO's Address
CEO’s Address Asantha Wijeyeratne 8
Slide 9: FY24 Highlights: delivered maiden net profit
FY24 Highlights: delivered maiden net profit 1. Net profit after tax 9 2. Before funds due to customers and IRD
Slide 10: FY25 Strategy: foundations for sustainable growth
FY25 Strategy: foundations for sustainable growth 10
Slide 11: Financials
Financials Jaime Monaghan 11
Slide 12: FY24 results: delivered our maiden net profit (1)
FY24 results: delivered our maiden net profit (1) FY24 ($000s) FY23 ($000s) Change Net profit after tax* 1,232 (558) 1,790 Total recurring revenue 7,570 5,715 32% Cost to Serve (1,747) (1,569) 11% Gross margin % 77% 73% 4pp Customer Acq, R&D, Gen & Adm (4,808) (4261) 13% Earnings before tax, depr & am
Slide 13: FY24 results: delivered our maiden net profit (2)
FY24 results: delivered our maiden net profit (2) Positive free cash flow of $0.3m for March 2024 increased by $0.9m year on year. Inverted the gap between revenue and expenses to deliver an improvement of $0.8m* in the bottom line to a net profit after tax of $0.2m* for the year. *excludes recognition
Slide 14: We grew recurring revenue 32%
We grew recurring revenue 32% $7.6m Recurring revenue grew 32% YoY to $7.6m for the year ended 31 March 2024 Up 32% as a result of: Interest Processing Fees ● Increased customer numbers; ● Additional revenue from existing customers; and ● Increased interest earned on funds held on behalf of customer
Slide 15: 7% year on year growth of new customers
7% year on year growth of new customers We grew in FY24, but at a slower rate than in previous years due to: 7,368 up 7% ● Market penetration in our primary (dairy) sector earlier than anticipated ● Targeting of new verticals is still in SmoothPay its infancy Acquisition ● We chose to focus our (+1,
Slide 16: We reinvested for long term growth
We reinvested for long term growth FY24 ($000s) FY23 ($000s) Change Change Cost to Serve 1,747 1,569 178 11% ￪ Customer Acquisition 766 709 57 8% ￪ Research & Development* 934 991 (57) (6%) ￪ General & Administration 3,108 2,561 547 21% ￪ Interest expense 97 61 36 59% ￪ Depreciation, Amortisation &
Slide 17: We grew total customer lifetime value by 23%
We grew total customer lifetime value by 23% Higher average revenue per customer due to price increases and higher interest rates. Cost to serve each customer decreased as investments into systems and tooling begin to deliver increased efficiencies and scalability. Challenging economic environment ma
Slide 18: June 2024 quarter: growth continued at slower rate
June 2024 quarter: growth continued at slower rate Recurring Revenue $2.1M( 20% YoY) for Q1 (June) FY 2025 Interest Processing Fees* *Net customer growth of 243 during the quarter. 18
Slide 19: Outlook: Targeting $10m ARR
Outlook: Targeting $10m ARR We will supercharge customer growth by: ● leveraging the technical improvements we’ve made to deliver more features and benefits for customers and accountants ● being hyper-focused on our target market - customers employing 1-5 employees ● nurturing relationships with new
Slide 20: Resolutions
fiesolutions Shelley Ruha 20
Slide 21: Resolution A
Resolution A That James Sybertsma be elected as a Director of PaySauce. James Sybertsma FOR Non-Executive Director (Independent), ARC Chair AGAINST ABSTAIN 21
Slide 22: Resolution B
Resolution B Having retired, that Gavin Thompson be re-elected as a Director of PaySauce. Gavin Thompson FOR Non-Executive Director AGAINST ABSTAIN 22
Slide 23: Resolution C
Resolution C That the Board is authorised to fix the fees and expenses of Grant Thornton as the auditor of FOR PaySauce. AGAINST ABSTAIN 23
Slide 24: General Business
General Business ? The meeting is now open to any general questions 24
Slide 25: Thank you!
Thank you! 25
Slide 26: Glossary
Glossary Recurring Revenue: Recurring revenue is revenue that is expected to repeat each period into the future. For PaySauce, this is directly linked to the number of customers, their size, and the number of pays they run using the PaySauce payroll products. There are currently two sources of recur
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