Pushpay Holdings Ltd (ASX: PPH), the Kiwi church donation software company, announced its financial results for the quarter ended June 30th, 2018.
In an ASX filing, Pushpay said it delivered on its revenue guidance, reporting 52% growth in total revenue compared to the same period a year earlier. At $US21.3 million Pushpay hits its target range of between $US20.5 million and $US22 million.
Across its 7,352 customers Pushpay’s average revenue per customer went up 36% to $US994 per month, the company said. However, total customers rose just 3.1% over the year.
Chris Heaslip, Pushpay’s CEO and Co-Founder, said he was pleased with the first quarter results and painted an optimistic outlook.
“Pushpay exceeded budgeted sales targets, leading to a record sales quarter,” Heaslip said. “The Company continues to build on its market leading position in the US faith sector and is well positioned for future growth.”
Recently, investors were spooked when faith software organisation, Blackbaud, announced it was entering the payments sector. However, it doesn’t appear to have slowed down Pushpay.
“We continue to experience quarter over quarter growth in our field sales initiative and deal sizes continue to increase, validating the assumption that face-to-face interaction allows us to better communicate the value of our solutions to support a higher price point,” Heaslip added.