Consensus community valuation
$0.830
Average Intrinsic Value
39.2%
Overvalued by
Active Member Straws
#Results
Last edited 4 weeks ago

08-July-2020:  Record growth in Q2 FY20

  • Merchant Sales Volume (MSV) grew rapidly to US$65.4M, up 260% on Q2 FY19, up 176% on Q1 FY20
    • North America up 261% and Europe up 240% on Q2 FY19
  • Gross Revenue (Non GAAP) surged to US$2.4M, up 460% on Q2 FY19, up 246% on Q1 FY20
  • 1K Total Merchants, up 104% on Q2 FY19
  • 309K Total Unique Shoppers, up 85% on Q2 FY19
  • Average Order Value (AOV) of US$893, up 44% on Q2 FY19
  • Large new merchants (live and signed) include Purple, Daily Sale, Quiet Kat, Dreamcloud, Bedmart, Scorptec, Tatami Fightwear, Sofa Club, Alpina Watches
  • New partnerships with Mastercard, Finance for Group, Blue Snap

--- click on the link above for the rest of this announcement ---

Disclosure:  Not held by me.  While I understand why they have their supporters, and there's clearly money to be made in the better ones, I personally choose to avoid the BNPL sector.  Horses for courses.  On a day in which our ASX200 fell -1.5%, SPT was up +8.4% - and they're not even a gold miner.

 

 

Or are they....?

No, they're not.  Perhaps gold diggers?  Attempting to get rich by association with the previously successful?  Perhaps.  I don't follow them, but there does seem to be a lot of them around these days.

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#Up 108% on Mastercard Deal
Last edited 2 months ago

18-June-2020:  Splitit Partners with Mastercard

plus:  Splitit Partners with Mastercard - Clarification - that the Agreement is for an initial five (5) year term.

SPT's SP has more than doubled today on that announcement - up +108% from $0.66 to $1.375 (!!)

Splitit Partners with Mastercard

Partnership to jointly scale instalment offerings bringing choice, control, and simplicity to consumers and businesses

Splitit Payments Ltd. (ASX:SPT), a global payment solutions provider, announces that it has signed a multi-year agreement with global payments technology company, Mastercard Incorporated (NYSE:MA) (“Mastercard”) to accelerate the adoption of Splitit’s instalment solution around the world. 

Splitit will leverage Mastercard’s network of partners to extend and scale instalment functionality to consumers and merchants. It will integrate its instalment solution with Mastercard’s suite of technology as a network partner to enable merchants to deliver seamless and secure consumer experiences at checkout, both in store and online.

“We are very excited to be partnering with Mastercard who share our strong commitment to accelerating the adoption of instalment payments globally”, said Brad Paterson, CEO of Splitit. “This is a fantastic way to broaden the distribution of our solution, leveraging Mastercard’s incredible global reach, and build out a range of instalment services. It’s a major plank in our strategy to grow through strategic partnerships to make Splitit a household name.”  

Mastercard and Splitit will also jointly develop instalment and related products. Mastercard’s Payment Gateway Services (MPGS) and Application Programming Interface (API) technology will enable a systemic, scalable way to offer Splitit’s instalment solution. The partnership will also explore accelerated collaborations with Mastercard’s suite of instalment solution providers. 

The partnership will plan to launch pilots across three markets with plans to roll out globally. 

“This partnership with Splitit will help to drive higher transaction volumes for businesses and deliver budgeting solutions in the moment consumers are seeking them,” said Zahir Khoja, Executive Vice President of Global Merchant Solutions and Partnerships at Mastercard. “Our network and global reach, alongside Splitit’s solution, aligns with our commitment of providing choice, control, and simplicity to consumers and businesses. Consumers walk away with payment options and businesses get paid in full, building consumer loyalty.” 

At this point in time, Splitit is not able to determine the economic materiality of the partnership with Mastercard due to the contingent nature of results that may be generated.

--- ends ---

About Splitit

Splitit is a payment method solution enabling customers to pay for purchases with an existing debit or credit card by splitting the cost into interest and fee free monthly payments, without additional registrations or applications. Splitit enables merchants to offer their customers an easy way to pay for purchases in monthly instalments with instant approval, decreasing cart abandonment rates and increasing revenue. Serving many of Internet Retailer’s top 500 merchants, Splitit’s global footprint extends to hundreds of merchants in countries around the world. Headquartered in New York, Splitit has an R&D centre in Israel and offices in London and Australia. 

https://www.splitit.com/
 
About Mastercard

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

www.mastercard.com 

Further reading and media coverage of today's announcement:

https://www.afr.com/technology/afterpay-rival-splitit-surges-50pc-on-mastercard-deal-20200618-p553xj

https://themarketherald.com.au/splitit-payments-asxspt-shares-boom-on-mastercard-partnership-2020-06-18/

https://www.ig.com/au/news-and-trade-ideas/what-are-the-implications-of-splitits-mastercard-partnership--200618

https://smallcaps.com.au/splitit-partners-mastercard-upscale-instalment-payment-solutions/

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#Financials
Added 5 months ago

Splitit 2019 Full Year Results

Highlights:

  • Record revenue of US$ 1.65M, up 108% on FY18 (US$0.79M) driven by growth in merchant fees
  • Merchant Sales Volume (MSV) of US$88M, annualised to US$110M, up 52% on FY18 (US$58 M)
  • Total Active Merchants up 97% to 720(FY18:380) with12 Month Active Merchants up 76% to 386(FY18:219)
  • 12 Month Active Shoppers up 55% to 118,783 (FY18 : 76,623)
  • North America was the fastest growing region with MSV increasing 78% Y/Y
  • Strategic partnership agreements with EFTPay, GHL,Ally Commerce, Shopify, Magento, iPay88 and BlueSnap
  • Cash capacity to fund continued growth (US$16.33M at 31 December 2019)
  • Strong Q1 commencement with numerous agreements signed with large merchants and new partners including; Stripe, Viagogo, Ride Cake, Redsbaby and Go Easy Online
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#ASX Announcements
Added 2 months ago
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#Financials
Added 3 months ago

March 2020 Quarterly Report & 4C 
Strong Q1 Revenue with Exceptional Growth Trajectory

Splitit Payments provides an update on its quarterly activities for the three-month period to 31 March 2020.

  • Accelerating growth recorded across all leading KPI’s despite COVID-19 challenges
  • 165% increase in Merchant Sales Volume (MSV) for April month to date on prior corresponding period (PCP) (April 1-26)
  • 152% increase in MSV for the same period in March 2020, following new large merchant wins
  • Strong Q1 revenue growth, up 104% on PCP to US$657K and up 51% on previous quarter
  • North America Q1 MSV continuing to accelerate, up 42% on PCP
  • Total Merchants grew 108% on PCP to 862 and 20% on the previous quarter, with 12M Active Merchants up 12% on the previous quarter
  • Notable new merchants include; Nectar Sleep, Canyon, Scorptec, Dreamcloud, Ride Cake, Scandiborn USA, Factory Pure, Bedmart, P D PAOLA, GoEasy Australia, Redsbaby
  • Pivotal global agreement with Visa to partner to accelerate instalment payment innovation
  • Significant partnership with Stripe, to facilitate rapid scalability over the coming quarters
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#ASX Announcements
Added 2 months ago
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