Change records 32% increase in revenue for FY22

Change Financial Limited (ASX: CCA) released the company’s full year results for the year ended 30 June 2022 (FY22).

Change CEO and Managing Director, Alastair Wilkie commented, “This was a transformational year for Change, with the Company in a position to scale our technology offering globally. During the period, we expanded our client base from 136 across 36 countries to 156 in 41 countries, whilst also delivering key building blocks that set us up for continued success. The Change team globally has operated in challenging circumstances and they should be proud of what they have achieved in FY22.”

FY22 Highlights

• FY22 revenue of US$8.3m (A$12.0m), up 32% on prior corresponding period
• Launched new Vertexon Payments as a Service (PaaS) platform
• Signed seven new Vertexon PaaS clients with total contract value anticipated to be in excess of US$12.9m (A$18.7m) over the initial terms
• Includes milestone Vertexon PaaS contracts with four New Zealand financial institutions with TCV anticipated to be in excess of US$10.5m (A$15.2m) over the initial five-year terms
• 1^st US Vertexon PaaS client now live and transacting generating recurring revenues
• Signed a six-year agreement with Mastercard to enable direct issuing in Australia & New Zealand
• Received regulatory approval to enable direct issuing in New Zealand, regulatory approval in Australia is expected in coming months

To access an overview of the FY22 results and outlook for FY23, please see our Results Presentation