SafeCharge Revenues Beat Expectations, Bounce by 24% in 2018

Following a file ultimate quarter of 2018, SafeCharge has printed its monetary outcomes for the total yr of 2018 this Wednesday, with the agency reaching revenues in the direction of the higher finish of its revised expectations.

SafeCharge, a funds know-how firm, posted a income of $138.5 million, which represents a stable progress of 24 % when measured in opposition to 2017, which had complete income of $111.7 million.

As Finance Magnates beforehand reported, in November of final yr, SafeCharge said that it anticipated income would beat market expectations for the total yr and fall throughout the vary of $135-138 million.

Following its stable ultimate quarter, the UK-based firm revised its forecast in a buying and selling replace in January 2019, with the total yr complete income forecast to fall between $137.5 and $138.5 million, which, as right now’s announcement exhibits, income got here in in the direction of the highest finish of this revised expectation.

In line with the assertion launched this Wednesday, the sturdy income progress was largely pushed by onboarding new clients, in addition to increasing the relationships with its current clients.

Transaction Volumes Soar in 2018

The variety of transactions made in 2018 is available in at 255.1 million, which is a rise of 47 % year-on-year, up from 2017’s determine of 173.eight million. When it comes to transaction worth, 2018 achieved a results of $13.93 billion. That is up by 45 % on an annual comparability.

As the corporate beforehand outlined, it anticipated to realize a processed quantity for its 2018 fiscal yr of $14 billion. As might be seen, this estimate may be very near the precise end result revealed right now.

David Avgi CEO of SafeChargeDavid Avgi, the CEO of SafeCharge
Supply: SafeCharge

Commenting on the outcomes, David Avgi, the CEO of SafeCharge, stated: “The yr 2018 was one other interval of sturdy monetary efficiency and continued progress. We demonstrated glorious efficiency and profitable entry into new markets and verticals. We’ve got continued to innovate, develop and ship our cost merchandise and applied sciences, enabling us to deepen {our relationships} and win new enterprise with massive scale clients.”

One other spotlight for the know-how agency in 2018 was that it was granted a Fee Establishment license by the UK Monetary Conduct Authority (FCA), as Finance Magnates reported again in January of 2018.

SafeCharge Expects 2018 Momentum to hold into 2019

Alongside right now’s outcomes, the Board of SafeCharge has already issued its forecasts for 2019, with revenues anticipated to be within the vary of $155 million to $165 million. Moreover, the funds know-how agency expects Adjusted EBITDA to fall between $40 million and $42 million.

These figures, in keeping with the assertion, will probably be pushed by continued progress from its current clients, in addition to new clients acquired in 2019. Already, the corporate claims to be on its solution to reaching this, with momentum from the ultimate quarter of 2018 carrying into the beginning of 2019.

“Throughout 2019 we are going to proceed to spend money on constructing our gross sales groups to speed up our entry into new markets, in addition to to take a position additional in progressive merchandise to our clients. We’re solely firstly of our journey. Our extremely scalable proprietary Funds Engine has been designed to ship superior efficiency translating into a greater person expertise and elevated revenues for our clients,” added Avgi.

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