Pushpay Holdings, the mobile payments app company, reached its target of US$100 million ($140m) in annualised committed monthly revenue by December 31 and reiterated it expects to break even on a monthly cash flow basis before the end of 2018.
In October, the Auckland-domiciled, US-headquartered company brought forward the target to December 31, 2017, from March 31, 2018, after ACMR, the company's preferred metric which measures total billings through merchants that Pushpay collects fees from, was US$67.5m ($95m) in the six months to September 30, from US$34.3m ($48.2m) a year earlier.
"Achieving US$100 million ACMR within 27 months after reaching US$10 million ACMR is a significant milestone for the business," chief executive Chris Heaslip said.
"We continue to focus on scaling the business in the US faith sector in order to maximise shareholder value over the long term."
"Pushpay remains in a position to reach its targets of FY18 NZ GAAP revenue guidance of US$70 million and breakeven on a monthly cash flow basis prior to the end of calendar 2018," he said.
