- Buy now, pay later business Laybuy Group (LBY) believes it will end FY21 with better-than-expected revenue
- The fintech stock revealed its revenue and net transaction margins are both expected to top “analyst consensus”
- The forecast comes after a strong performance by LBY recently, with 640 new merchants and over 45,000 active customers added
- The company now expects to end FY21 with up to NZ$33 million (about A$30.7 million) in revenue, an increase of up to 139 per cent
- It also expects its net transaction margin to total between NZ$10.2 million and NZ$10.7 million (around A$9.49 million to A$9.95 million)
- Company shares have ended Monday down 1.18 or cent at $1.26 per share
Buy now, pay later business Laybuy Group (LBY) believes it will end FY21 with strong increases in revenue.
The fintech stock revealed on Monday that both its revenue and net transaction margins are on track to exceed analyst consensus.
In particular, the company expects to end the 2021 financial year with between NZ$32 million and NZ$33 million (around A$29.7 million and A$30.7 million) in revenue.
Those figures represent a revenue increase of between 132 per cent and 139 per cent year on year.
Additionally, Laybuy also expects its net transaction margin to total between NZ$10.2 million and $10.7 million (about A$9.49 million to A$9.95 million) at the end of FY21.
The improved forecasts are being attributed to the company’s performance to date, with 640 new merchants and over 45,000 active customers added in January and February alone.
The fintech stock’s annualised gross merchandise value also currently totals NZ$630 million (roughly A$586 million).
Beyond its FY21 results, the company stated it is expecting more growth to be logged across the 2022 financial year.
“Laybuy remains confident that its key strategic initiatives and increased investment in people, product and partnerships will support continued growth, particularly in the U.K., into FY22 and beyond,” LBY said in a statement.
Shares in Laybuy Group have ended Monday’s session trading down 1.18 per cent at $1.26 per share.