Smartpay Holdings interim financial results overview

Smartpay Holdings Limited (ASX: $SPM) has released its interim financial results for the six months to 30 September 2023. The company reported a 33% increase in revenue, reaching $46.9 million, and a 31% rise in EBITDA to $10.6 million (statutory $9.6 million). Operating cash flows were down 11% on the prior corresponding period, amounting to $9.0 million, while profit before tax surged 68% to $4.8 million (normalised) and net cash increased by 64% to $2.2 million. Smartpay emphasized its commitment to building a sustainable business based on sound business fundamentals.

Executive commentary on interim financial results

Smartpay's Chief Executive Officer and Managing Director, Marty Pomeroy, highlighted the company's strong performance in the interim financial results. He stated, 'We are pleased with the continued revenue growth and the progress we have made in maintaining our strong operating leverage while investing for the future. Our focus on sustainable business fundamentals has allowed us to deliver a 31% increase in EBITDA and a 68% rise in profit before tax. We remain committed to our strategic goals and are confident in our ability to unlock the next phase of our strategy.'

Summary of Smartpay Holdings interim financial results and outlook

Smartpay Holdings has demonstrated robust interim financial results, with significant growth in revenue, EBITDA, and profit before tax. The company's emphasis on sustainable business fundamentals and sound financial management has enabled it to maintain strong operating leverage while investing for the future. Smartpay's commitment to building a sustainable business is evident through its progress in ESG initiatives and governance enhancements. Looking ahead, Smartpay aims to continue its growth trajectory, unlock the next phase of its strategy, and position itself as a leading omni-channel payments provider in Australia and New Zealand. The company's focus on sustainable growth and measured investment reflects its dedication to creating long-term value for all stakeholders.