Smartpay Holdings Limited: FY24 Interim Results

Smartpay Holdings Limited (ASX: SMP) has released its FY24 Interim Results, showcasing robust growth in their Australian operations and progress toward entering New Zealand's acquiring market. The company reported a notable 33% surge in revenue to AU$46.9 million for 1H24, primarily fuelled by increased transaction revenue from their Australian acquisitions.

The expansion in their Australian transacting terminal fleet to 17,700 terminals by September 2023—7% of their total addressable market—reflects their early-stage growth position and future potential in Australia. Despite ongoing investment in operational costs, particularly in preparation for the New Zealand market, Smartpay achieved a 31% rise in normalised EBITDA to AU$10.6 million and a remarkable 71% increase in Normalised Profit Before Tax (PBT) to AU$4.8 million, underscoring their operational efficiency and strong financial performance.

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