As part of this process PLX is providing the attached Company Update, which includes its unaudited quarterly trading results.
Unaudited quarterly results to 30 June 2020 (Q1 FY21)
Q1 FY21 revenue was up 18% to $6.8 million, or $1.0 million higher, than Q1 FY20, reflecting the full year effect of existing contracts and the resilience of the business.
Cost of sales increased by $0.5 million (52%) due to higher costs relating to Azure and third-party technology costs associated with growth.
Other expenses increased by $3.0 million (87%) quarter on quarter. The main driver of this increase was people costs, which increased $2.3 million (90%). The increased headcount to 156 is necessary to support the Company’s growth objectives. The majority of new hires have been in the sales and marketing, customer and technology teams, enabling the business to focus on security, stability, longer term reductions in platform costs and increased sales and marketing activity.
The increase in costs due to growth investment has resulted in a loss before interest, tax, depreciation and amortisation of $1.1 million for Q1 FY21.
Commenting on the first quarter’s trading results, CEO Craig Herbison, said: “Plexure’s first quarter trading result was in line with expectations and reflected the Company’s decision to accelerate growth investment, including more rapid development of the technology platform, enhancements and additions to the product set, the acquisition of key talent across all functions within the business, as well as the expansion of global sales and marketing activities.”
“This investment will allow Plexure to secure value accretive opportunities that it is currently constrained from pursuing with the resources currently available”, said Mr Herbison.
For more information please contact:
Ronn Bechler, Market Eye
P: +61 400 009 774
E: [email protected]
Tristan Everett, Market Eye
P: +61 403 789 096
E: [email protected]
Plexure is a mobile engagement software company. Global brands use the Company’s products to engage consumers on mobile devices and drive them to store with personalised offers, mobile order and pay and loyalty. Plexure’s software integrates with operational systems to remove friction and create a seamless purchase experience for consumers.
Plexure makes the sales process for physical retailers seamless, engaging and profitable by identifying where customers are, what they want and then facilitating their purchases.
The Company’s technology platform and product offering covers five key capabilities:
- Personalised offers
- Next generation loyalty programmes
- Mobile order and pay
- Seamless operations integration.
Brands that use Plexure experience an increase in customer numbers and visit frequency, higher average transaction values, larger share of wallet and improved customer satisfaction scores.
The Company now has over 191 million end users on its platform in 59 countries.
Plexure has offices in Auckland, Chicago, Atlanta, New York, Tokyo, London and Copenhagen. Clients include McDonald’s, White Castle, Super Indo and Loyalty New Zealand.