The iSignthis Ltd (ASX: ISX) share price could be a big mover today after announcing an operational update.
iSignthis is listed on the ASX and Frankfurt Stock Exchange. It provides remote identity verification and payment authentication combined with e-money, transactional banking, IBAN issue and payment processing capability. Its products and businesses are iSignthis Paydentity, ISXPay, UAB Baltic Banking Service and Probanx Information Systems.
iSignthis’ Impressive Operational Update
At the end of August 2019 the financial technology business reported that its annualised monthly gross processing turnover volume (GPTV) has exceeded $1.1 billion, which is 160% higher than what it was at 30th June 2019.
The GPTV is the volume of funds processed by the company on behalf of any of its merchants. Meaning that the GPTV is the merchant’s revenue from which the company calculates and deducts fees.
Actual processed transactional volumes within the EU and Australia networks continue to grow in line with the management’s expectations as new business customers are brought onto the system.
Business customers at the end of August 2019 were up 28% to 270, up from 210 at 30 June 2019. iSignthis said that the underwriting/approvals team continues to work through a growing pipeline of business customer applications that has been generated by the sales team.
Group approvals continue to grow consistently in line with expectations according to the company.
The company will provide another GPTV update with the quarterly report for the third quarter of 2019.
Is The iSignthis Share Price A Buy?
iSignthis is growing operationally and on a revenue basis at a fast pace.
In the recent reporting season for the first half of 2019, iSignthis said that its operating revenue increased by 49% to $7.5 million and total revenue rose by 48% to $8.2 million.
In mid-May the company said it was cash flow positive and its half year loss improved to $0.7 million from a $2.9 million loss in the 2018 half year.
iSignthis is at the more speculative end of potential investments that I write about, but it could be one to watch if it continues to grow customers, transactions and revenue at this pace. It seems to have good network effects.
But, you may prefer to invest in the exciting growth shares in the free report below instead.
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