Q3 update. Revenue of $4.3m down form $4.7m in prior December quarter mainly due to lower lumpy License & Professional Services (seasonal).

Platform revenue was only down $0.1m on the busy prior quarter. Q2 is seasonally high but also Q3 probably benefited from improvement in aud/usd. Active cards are growing well but transactional volume is flat (prepaid card growth rather than debt card growth). Overall, platform revenue is growing but only slowly and it remains a small component of revenue. The growth due to Sharesies is small, more client wins required to keep thesis intact. Addition of pipeline slide sometime to track in future.

I'm confident they will hit revenue guidance of $17.5-18.5m USD. I'd say unlikely they will exceed revenue guidance, so likely to meet expectations but not surpass them. Longer term there is perhaps more threat of competition from Cuscal in New Zealand too.

Was pleasing, a very modest upgrade though. I was hoping for some more info on the platform usage metrics nothing on that yet.

Earlier today I did see some sharesies advertising for the 1% cash back card, keen to see if this has an effect in H2.

Better to be lucky than smart @Rick!

A guidance upgrade wasn't a bold call though, after the great 1Q if the seasonally stronger 2Q maintained that momentum they were run-rating above guidance.

I daresay that even the new guidance looks like it could be beaten, though it will require the lumpier licensing revenue to stay strong which is harder to forecast so I appreciate management's conservatism for now.