Total
0
Shares
Zebit (ASX:ZBT) - CEO, Mark Schneider - The Market Herald
CEO, Mark Schneider
Source: Sydney Morning Herald
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Buy now, pay later lender Zebit (ZBT) has revealed a record sales performance for the full year 2020
  • Total net sales for the full year are estimated at US$88.1 million (around A$113 million)
  • Included in this is net sales for the fourth quarter, which accounted for more than half of all sales at US$44.8 million (approximately A$57.4 million)
  • Zebit, which only listed on the ASX from October 26 last year, is a California-based buy now, pay later company focussed on 'credit-challenged consumers'
  • Zebit is up 13.68 per cent today at $1.08

Buy now, pay later lender Zebit (ZBT) has revealed a record sales performance for the full year 2020, including a bumper month in December.

Prior to the company issuing its quarterly trading update and 4c appendix in late January, Zebit has given the market a sneak preview to the figures.

Total net sales for the full year are estimated at US$88.1 million (around A$113 million). Included in this is net sales for the fourth quarter which accounted for more than half of all sales at US$44.8 million (approximately A$57.4 million).

The company also report a record month for December with net sales of US$21.3 million (roughly A$27.3 million).

Zebit CEO, Marc Schneider, commented: “the strength of Zebit’s performance through Q4 is a bellwether for the increasing demographic of consumers who value and repeatedly use the company’s eCommerce services."

"We expect strong growth in 2021 as we expand our reach in helping the increasing number of Americans living paycheck to paycheck, purchase everyday products that many of us take for granted."

"In addition to its primary eCommerce sales channel, as physical retail stores reopen, Zebit will also enable consumers to continue to finance purchases in physical retailers through sales of electronic gift certificates on our platform that can be redeemed in brick and mortar."

Zebit, which only listed on the ASX from October 26 last year, is a California-based company focussed on 'credit-challenged consumers'. The company aims to give customers access to a broad set of products and the ability to pay for those products in instalments over six months, with no predatory late fees or interest charges. 

Listing at $1.58, shareholders have seen the price tumble to close at 95 cents yesterday.

The news is better today though, Zebit is up 13.68 per cent at $1.08 at 10:12 am AEDT.

ZBT by the numbers
More From The Market Herald
Vection Technologies (ASX:VR1) signs first Australian real estate VR solution

" Vection Technologies (ASX:VR1) signs first Australian real estate VR solution

Vection Technologies (VR1) has signed its first Australian real estate virtual reality (VR) solution via its AEC & Real Estate Division.
K2fly (ASX:K2F) - Chief Executive Officer, Brian Miller - The Market Herald

" K2fly (ASX:K2F) wins contract extension from Fortescue Metals Group (ASX:FMG)

K2fly (K2F) has won a contract extension from Fortescue Metals Group (FMG).
Esports Mogul (ASX:ESH) - Chairman, Gernot Abl - The Market Herald

" Esports Mogul (ASX:ESH) to run tournament platform for U.S. ReWire Fest

Esports Mogul (ESH) has been chosen as the platform provider for the upcoming ReWired Fest in the United States.
Norwood Systems (ASX:NOR) - CEO, Paul Ostergaard - The Market Herald

" Norwood Systems (ASX:NOR) raises $200K via convertible note issue

Norwood Systems (NOR) has raised $200,000 through the issue of more than 8.3 million convertible notes.