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Splitit (ASX:SPT) - Former CEO, Brad Paterson
Former CEO, Brad Paterson
Source: Splitit
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  • Only two months into the quarter, Splitit Payments (SPT) reports a record merchant sales volumes (MSV), thanks to the shopping holiday period
  • The company has recored US$11 million (A$15 million) in MSV across the holiday shopping weekend, including Black Friday and Cyber Monday
  • While North America and UK continue to be priority markets for future growth, the APAC region have contributed significantly
  • With Christmas coming up, the company is anticipating this to be a very successful quarter
  • On the market this morning, Splitit is in the grey and trading at 26.5 cents per share

In only two months into the quarter, Splitit Payments (SPT) has reported record merchant sales volumes (MSV) thanks to the shopping holiday period.

The company has recorded US$11 million (A$15 million) in MSV across the holiday shopping weekend, including Black Friday and Cyber Monday.

The strong MSV growth was recorded across all of Splitit’s geographic markets of North America, Europe and Asia Pacific (APAC) region. The average order value remains over $1000.

While North America and the UK continue to be priority markets for future growth, the APAC region has contributed significantly to the 2021 financial year fourth-quarter growth to date, with US$24 million (A$33 million) MSV.

APAC growth improved 836 per cent from this time last year and 451 per cent from last quarter, with a rapid growth coming from Japan.

With Christmas coming up, the company is anticipating this to be a very successful quarter.

Commenting on the growth is Interim CEO John Harper.

“It is pleasing to report record MSV growth in the fourth quarter to date. We’re only two months into the quarter and already we’ve surpassed the MSV reported for the whole of any previous quarter, with Christmas still ahead of us, which we are optimistic about,” he said.

“The strong MSV performance is attributable to the successful execution by the team over the holiday shopping period, better than anticipated results from Japan, and ongoing underlying MSV growth and momentum.

“Capturing seasonal and launch event opportunities is important, but I’m just as pleased to see progress across the business and our efforts translating into strong fundamental MSV growth,” he concluded.

On the market this morning, Splitit was in the grey and trading at 26.5 cents per share at 10:44 am AEDT.

SPT by the numbers
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