- Loyalty and rewards company Gratifii (GTI) sees its revenue growth exceed the forecast for the third consecutive quarter
- Unaudited revenue increased 95 per cent from $1.87 million in the September quarter to $3.64 million in the December quarter
- During the quarter, Gratifii signed three new corporate clients and added nine new content partners, such as Cotton On and Purely Gourmet
- Additionally, the company partnered with leading fintech enablement partner Ukheshe Technologies and buy-now-pay-later company Humm (HUM)
- Gratifii ends the day in the grey with shares trading at 3 cents
Loyalty and rewards company Gratifii (GTI) has seen its revenue growth exceed the forecast for the third consecutive quarter.
Unaudited revenue increased 95 per cent from $1.87 million in the September quarter to $3.64 million in the December quarter.
Additionally, cash receipts grew from $1.76 million to $3.12 million for the same period.
Software as a service (SaaS) unaudited revenue was up 19 per cent on the previous quarter to $621,000, due to increased volumes and implementation fees.
Unaudited annualised recurring revenue (ARR) for Q2 FY22 totalled $2.2 million, up 18 per cent on the previous quarter, and Gratifii expects this number to grow as it expands on its existing modules.
Further, unaudited rewards revenue was up 117 per cent over the prior quarter to $2.8 million, due to the implementation of management initiatives, the loosening of COVID-19 lockdowns and favourable trading conditions over the Christmas period.
“We are pleased to announce our third consecutive quarter of double-digit growth in cash receipts and unaudited client revenue,” Executive Chairman Iain Dunstan commented.
“The Christmas school holiday has traditionally been a strong period for loyalty and rewards and the lifting of restrictions led to record revenues over the period.”
During the quarter, Gratifii signed three new corporate clients and added nine new content partners, such as Cotton On and Purely Gourmet.
Gratifii also partnered with leading fintech enablement partner Ukheshe Technologies, enabling Ukheshe to integrate Gratifii’s Mosaic platform as its loyalty and rewards program.
Additionally, Gratifii partnered with Humm (HUM) to enable its customers to access Humm’s buy-now-pay-later (BNPL) payment services at checkout.
“We are excited to provide our BNPL offering to Gratiffi, offering their 10 million Australian consumers a simple, transparent and digital way to pay with an unmatched customer experience,” Humm’s BNPL General Manager Will Schmidt said.
Despite the continuing uncertainty surrounding COVID, Gratifii said H2 FY22 looks strong.
While December was a record month for the company, it is forecasting continued revenue growth in the March quarter.
Taking a look at its finances, Gratifii was cash flow positive in the quarter, recording $3.12 million in receipts from customers.
As of December 31, the company had more than $2.6 million in total available funding.
Gratifii has ended the day in the grey with shares trading at 3 cents for an $18.87 million market cap.