Join our daily newsletter At The Bell to receive exclusive market insights
Stakk Ltd (ASX:SKK), formerly Douugh, has jumped to 5c on Thursday after declaring it expects to make $8 million a year in recurring revenues by December 2025; also highlighting its deals with Robinhood and T-Mobile aren’t even having an impact yet (suggesting shareholders are to see more value adding yet).
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
That $8M figure comes as the company has effectively grown revenue by +315% over the last 9 months, though that comes off a low base of $1.4M in January.
The banking and startup software company landed on radars in recent history when it inked a deal with Robinhood, the trading app of ‘meme stock’ fame, earlier this year; Robinhood is itself seeking to go into banking.
Stakk also inked a deal with major US telco T-Mobile not long after.
Since then, traders have been digesting what the forward proposition is – on that front, Stakk wrote: “Since completing the exit of its consumer activities earlier this year, Stakk has fully transitioned to a modular, API-first SaaS model.”
“Modern fintechs and enterprise platforms pour resources into building “sexy” new customer-facing experiences, while the complex, compliance-heavy infrastructure underpinning them… remains underserved. Stakk builds what others won’t: the essential, regulator-ready infrastructure that allows innovation to scale immediately and safely.”
Make what you will of the claim that they’re building what “others won’t,” but investors were liking what they saw enough on Thursday. A total of $3.58M worth of trades had swapped hands just shy of 3pm Sydney time AEDT; the company has 2.5B shares on issue.
SKK last traded at 5.2cps.
Join the discussion: See what HotCopper users are saying about Stakk Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
