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Pushpay achieves quarterly breakeven target with positive cash flows

The company is confident it can achieve positive cash flows on an ongoing basis.
Pushpay is a payments and engagement provider to the US faith sector

Pushpay Holdings Ltd (ASX:PPH) (NZSX:PPH) has achieved its target of breakeven on a monthly cash flow basis prior to the end of calendar year 2018.

The company was cash flow and EIBTDAF-positive for the last quarter of 2018 and is confident it will have positive cash flows on an ongoing basis.

Cash flow positive

Pushpay chief executive officer and co-founder Chris Heaslip said the payments-provider was pleased to have achieved its target and was both EBITDAF and cash flow-positive.

Heaslip said: “Pushpay’s annualised processing volume increased from US$3.2 billion as at September 30, 2018, to US$5 billion over the Christmas period.”

Excluding the seasonal high period which falls in the last three weeks of December, annualised processing volume increased to over US$4 billion as at December 10, 2018.

Annualised processing volume is the annualised four-week average payment transaction volume through the Pushpay payment platform.

Potential acquisitions

Heaslip commented that Pushpay was proud to be a part of the substantial seasonal giving.

He said: “US$5 billion of giving represents a significant amount of good being done in local communities, such as funding for orphanages, food drives, homeless shelters and drug rehabilitation, to name a few causes.

“This is something we are very proud to be a part of.”

“Given the strength of the underlying business, Pushpay is well-positioned to capitalise on opportunities to accelerate growth including potential acquisitions that add significant value to the current business.”

Stronger communities

Pushpay provides a donor management system, including finance tools and a custom community app, to the faith sector, non-profit organisations and education providers in the US, Canada, Australia and New Zealand.

The company’s solutions simplify engagement, payments and administration, enabling customers to increase participation and build stronger relationships with their communities.

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