Spenda's Q4 FY24 report highlights

Spenda Limited (ASX: $SPX) has reported a 26% increase in Q4 cash receipts from customers, reaching $1.81m, and a 52% increase in cash receipts in FY24, totaling $5.4m. The company's total payment volumes surged by 161% in FY24, amounting to $250m, up from $96m in FY23. Spenda's acquisition of Limepay is expected to accelerate growth in FY25, aligning with the company's core strategy and enhancing the speed of execution of existing customer contracts.

Executive commentary on Q4 FY24 performance

In the past quarter, our focus has been on the effective execution of our record pipeline of work across all partnerships. Despite ongoing resource constraints, all programs remain on track. We are planning for the commercial launch of our new payments infrastructure with Capricorn in Q1 FY25, which has the potential to significantly increase the payment volumes on our platform. We are also looking forward to working with the Limepay team and integrating them into the enlarged Group, on further refining our combined product roadmap, onboarding new customers, and scaling our capacity to supply and accelerating revenue growth. It is a really exciting time for the Company and we remain optimistic about the growth potential over the years ahead.

Summary of Q4 FY24 and outlook for FY25

Spenda's Q4 FY24 report demonstrates a strong performance with significant increases in cash receipts and total payment volumes. The company's strategic acquisition of Limepay is expected to further boost growth in FY25, aligning with its 'land and expand' strategy. The rollout of Spenda AP, Payment Widget, and Pay Statement By Link (PSBL) services is anticipated to accelerate in FY25, along with an expected increase in revenue contribution from Spenda SOE. Spenda's focus on building sustainable recurring revenue over the long-term through its 'land and expand' model positions the company for continued success in the future.