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- Pet services marketplace Mad Paws (MPA) reports operating revenue for the December quarter of $2 million, a 199 per cent increase compared to the same time previous year
- The company highlighted its 57 per cent growth in customer acquisition when compared to the corresponding quarter in 2021
- MPA finished the year with $8.9 million which will help it fund its growth strategy for the second half of the financial year
- Shares closed 4.88 per cent higher today at 21.5 cents each
Pet services marketplace Mad Paws (MPA) has reported operating revenue for the December quarter of $2 million, a 199 per cent increase compared to the same time last year.
The company highlighted its 57 per cent growth in customer acquisition when compared to the corresponding quarter in 2021.
Bookings and transactions increased by 81 per cent from the prior quarter.
The company finished last year with $8.9 million which will help it fund its growth strategy for the second half of the financial year.
Looking ahead, the company believes it is well placed to take advantage of freer travel movements and the accelerating shift online.
The company is aiming to focus on scaling its pet services marketplace in a post lockdown world as well as offering a leading pet subscription platform with a focus on cross-sale between all of its assets.
MadPaws hopes to create more healthy additions to its food offerings and additional services within the health vertical.
The company plans for more curated ecommerce to provide customers products it knows they want.
In the first two trading weeks of this quarter, the company saw a 45 per cent increase in marketplace gross merchandise volume (GMV) compared to the previous corresponding period.
Chief Executive Officer Justus Hammer said he is pleased to progress the company’s growth strategy and product offerings.
“In our subscription verticals we have experienced accelerated growth over the last 12 months, through the launch of three dog food products and entering of the toys and treats market through the Waggly acquisition,” he said.
“During the quarter we commenced a number of operational initiatives to set these businesses up for scale and to drive margin improvements over the medium term.”
Shares closed 4.88 per cent higher today at 21.5 cents each.
