- MoneyMe (MME) has managed to accelerate its revenue, loan originations and customer receivables over the third quarter of FY21
- The fintech stock revealed its revenue had increased by 22 per cent quarter-on-quarter to total $15 million altogether
- The company’s loan originations grew to $108 million, while gross customer receivables hit $233 million at the end of the quarter
- Additionally, MME said its funding costs reduced from 9 per cent down to 6 per cent, while its core operating costs margin has also dropped
- Going forward, the company is hopeful the ongoing business momentum will see MoneyMe record $19 million in contracted revenue over Q4
- Company shares are trading down 1.73 per cent at $1.42 per share
MoneyMe (MME) has released its latest quarterly report, revealing it managed to accelerate its revenue, loan originations and customer receivables during the three month period.
The fintech stock, which offers loans and other financial products to businesses and consumers, recorded a 22 per cent increase in revenue quarter-on-quarter to total $15 million altogether.
The company’s loan originations grew to $108 million, up 111 per cent compared to the same time last year, while gross customer receivables hit $233 million at the end of the quarter — an increase of 63 per cent year on year.
MME also revealed its funding costs have reduced from 9 per cent during the first half of the 2021 financial year, down to 6 per cent this quarter.
Additionally, MoneyMe said its core operating costs margin had also dropped over the March quarter, down from 12 per cent in 1H FY21 to 9 per cent at the end of period.
Looking ahead, the company expects its contracted revenue to increase to over $19 million in the fourth quarter of the 2021 financial year.
“We are incredibly pleased to report the growth and momentum the business is achieving, with increasing revenues and another set of records in originations and customer receivables,” CEO Clayton Howes said.
“Our business is accelerating with the credit quality of our customers increasing and it is fantastic to see the strong take-up of our recently launched products by our customers and merchants,” he added.
Company shares are trading down 1.73 per cent at $1.42 per share towards the close of market on Monday.