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SelfWealth (ASX:SWF) - Managing Director Rob Edgley
Managing Director Rob Edgley
Source: SelfWealth
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  • Online trading platform SelfWealth (SWF) says it ended the 2021 financial year cashflow positive and with a smaller loss than last year
  • The fintech stock ended FY21 with a $600,000 net loss, well down on FY20’s $3 million loss and complemented by a 135 per cent increase in revenue
  • SWF brought in $18.4 million in revenue from over 95,000 active traders with more than $6 billion in equities under administration
  • It also launched US trading capability during FY21 and noted a 41 per cent increase in operating expenses amid new hires and higher promotional spend
  • Shares in SelfWealth are trading down 4.11 per cent at 35 cents per share at 11:37 am AEST

Online trading platform SelfWealth (SWF) has ended the 2021 financial year cashflow positive and with a smaller loss than last year.

The stock trading business ended FY21 with a $600,000 net loss, which is a $2.4 million improvement on FY20’s $3 million loss.

The lower loss was driven by a 135 per cent increase in revenue, with SelfWealth bringing in $18.4 million over the 12 months to June 30.

The number of active traders on the sight surpassed 95,000, while SWF reported more than $6 billion in equities under administration.

SelfWealth Chairman Rob Edgley told shareholders the COVID-19 pandemic, combined with low interest rates, helped fuel demand for SWF’s platform.

“FY21 was a transformational year for SelfWealth which saw our company cement its position as a major participant in the Australian Online Broking industry,” Mr Edgley said.

“The ongoing COVID-19 pandemic, ultra-low global interest rates and the continuing digitisation of investment markets have all contributed to an increase in the addressable market for our services.

“We effectively capitalised on these favourable external trends and have more than doubled the number of active traders using our platform over the past year.”

In terms of activities, the fintech stock launched US trading capability during FY21, with 29 per cent of traders taking up the offer.

Looking at cashflow, the company noted a 41 per cent increase in operating expenses amid new hires and higher promotional spend.

SWF still ended FY21 cash flow positive with a balance of $1.1 million, with a cash balance of $7.5 million at the end of June 30.

Since the start of FY22, the company has noted an increase in total trading volumes in July and August, and also carried out an $11.74 million capital raise.

Shares in SelfWealth were rading down 4.11 per cent at 35 cents per share at 11:37 am AEST.

SWF by the numbers
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