PaySauce maintains strong YoY growth trajectory for Q2 2019

The number of employees in New Zealand receiving their pay through PaySauce payroll software has increased by 123% to 9,851 people, with payslips issued up 115% to 68,921.

SaaS employment solutions provider PaySauce (NZX: PYS) maintains its strong year-on-year growth trajectory for Q2 2019. Total recurring revenue1 is up 120%. The number of employees in New Zealand receiving their pay through PaySauce payroll software has increased by 123% to 9,851 people, with payslips issued up 115% to 68,921. The number of employers processing pays through PaySauce payroll software has increased by 118% to 2,002. The gross payroll value processed by PaySauce for the quarter totaled $108.4 million, an increase of 133%.

CEO and co-founder of PaySauce, Asantha Wijeyeratne, reflects on the quarter: "It's been intense but extremely rewarding. We've seen major milestones like our first ever annual report, hitting 2,000 live processing customers, and processing over $100M of payroll for Kiwi businesses in a quarter. I'm incredibly grateful for all of the team's hard work and truly proud of our continued growth as a SaaS business."

KEY YEAR-ON-YEAR PERFORMANCE HIGHLIGHTS FOR THE QUARTER

Recurring revenue up 120% to $343.3K

Total employees paid through PaySauce up 123% to 9,851

Number of payslips issued up 115% to 68,921

Number of payroll customers up 118% to 2,002

Gross payroll value processed up 133% to $108.4M