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- MoneyMe (MME) tables record revenue of $48 million for H1 FY22, up 101 per cent on the prior corresponding period (pcp)
- Contracted revenue was up 293 per cent from the pcp to $178 million while the company recorded a cash profit of $10 million for the half
- The company also tabled record originations of $441 million, up 286 per cent on the pcp, and gross customer receivables of $590 million, up 252 per cent
- MoneyMe has also entered a trading halt regarding an upcoming capital raising, but has not disclosed how much it intends to raise
- Company shares last traded at $1.80 on February 21
MoneyMe (MME) has tabled record revenue of $48 million for H1 FY22, up 101 per cent on the prior corresponding period (pcp).
Contracted revenue was up 293 per cent from the pcp to $178 million, while the company recorded a cash profit of $10 million for the half.
MoneyMe recorded a statutory loss of $19 million for the half, which reflected upfront SocietyOne related expenses and AASB 9 provisioning expenses.
The company also tabled record originations of $441 million, up 286 per cent on the pcp, and gross customer receivables of $590 million, up 252 per cent.
MoneyMe expects to continue its growth in the second half of the year.
“We are incredibly pleased to report the continuing growth and momentum in MoneyMe, with increasing revenues and another set of records in originations and customer receivables,” CEO and Managing Director Clayton Howes said.
“Our business is continuing to accelerate while maintaining cash profitability and strong credit quality in our loan book.
“It is fantastic to see growth across all our diversified products and distribution channels. The Personal Loan and Freestyle products continue to resonate with Generation Now, both posting record balances at 1H22.”
Furthermore, MoneyMe has entered a trading halt regarding a proposed capital raising.
The company will remain in the halt until February 24 or when more details regarding the raise are released, whichever occurs first.
MoneyMe is yet to disclose how much it intends to raise or what it will use the funds for once received.
Company shares last traded at $1.80 on February 21. The company has a $308.5 million market cap.
