- SelfWealth (SWF) reports its revenue increased 32 per cent during the recently ended September quarter, totalling $5.5 million
- The number of active traders using the stock trading platform also grew by 13 per cent to 107,461, with quarterly trade volume also up 22 per cent
- The fintech stock ended September with $600 million worth of clients cash and $6.8 billion worth of securities held on HIN
- SWF entered Q2 FY22 with $17.54 million worth of cash in the bank, after carrying out a $11.74 million capital raise in July
- SelfWealth shares are up 1.39 per cent at 36.5 cents per share
SelfWealth (SWF) reports its revenue increased 32 per cent during the recently ended September quarter, totalling $5.5 million.
The stock trading business has released its first quarter results for the 2022 financial year, noting a 32 per cent jump when compared year on year.
The number of active traders using the SelfWealth platform also grew by 13 per cent to 107,461 users by the end of September.
Additionally, SWF said quarterly trade volumes grew by 22 per cent with more than 435,000 trades completed during the three month period.
The fintech stock had $600 million worth of clients cash and $6.8 billion worth of securities held on HIN at the close of the quarter.
SelfWealth Managing Director Cath Whitaker said it was a pleasing start to the new financial year.
“We are very pleased with the strong Q1 performance and the increased engagement of our growing customer base,” Ms Whitaker said.
“We are already seeing the benefits from our investment in product development through the accelerated rollout of new innovations and we are enhancing our content offering following the resounding success of our webinar investment series.
“We are identifying opportunities to provide additional value to our customer base, in addition to transparent pricing, and our wealth creation portfolio of products will expand over time.”
The company entered the December quarter with $17.54 million worth of cash in the bank, after carrying out a $11.74 million capital raise in July.
SWF spent just under $1.1 million on operating expenses during Q1, meaning they have enough cash to keep running for another 16 additional quarters.
SelfWealth shares were trading up 1.39 per cent at 36.5 cents per share towards the close of market on Wednesday.