Six-month figures meet expectations following 2012 acquisitions.
Mobile money firm Monitise has today (February 11th) reported significant revenue growth in the six-month period ending on December 31st 2012.
In the first half of its financial year, Monitise stated that revenues during the six-month period reached £27.8 million, representing a year-on-year increase of 63 per cent. This rise was primarily driven by substantial growth in user-generated revenue, which was up by 164 per cent.
There was also a notable increase in gross margins, which jumped from 64 per cent to 72 per cent.
Meanwhile, as a result of the firm’s investments in future operations, along with the acquisition of US company Clairmail, the group EBITDA (earnings before interest, tax, depreciation and amortisation) loss grew from £4.2 million to £14.7 million. However, Monitise said that this loss was in line with its expectations.
Alistair Lukies, Monitise CEO, said: “Monitise’s performance during the six months ended 31 December 2012 saw revenues continue to rise on the previous period with gross margins lifted by the on-going shift towards growing user generated revenues. Monitise’s overall performance during the period reflected the ongoing investment in scaling the business to meet the increasing global demand for Mobile Money and strategic moves taken to consolidate the group’s leadership position globally.”
"This has been yet another successful period in the Monitise journey," added chairman Duncan McIntyre. "We were delighted with the strong investment community interest and support shown for our business with the capital raise carried out in December 2012. The proceeds from this are being used to rapidly scale our business as we enhance our global Mobile Money leadership position, laying deeper foundations for future growth."
The total cash balance was £106.4m at the end of the period, which was up from £41.4m the year before.
Elsewhere, Monitise also announced the launch of the first ever mobile payments service for BlackBerry Messenger (BBM).
Created by PT Bank Permata and BlackBerry, with the support of Monitise, the BBM Money feature will be introduced via a commercial pilot for the manufacturer’s smartphones in Indonesia.
"BlackBerry users will have the option to access a Mobile Money account from their smartphone and make real-time payments simply and securely from within BBM to their contacts who are also signed up to the service, buy mobile airtime credit and transfer money to bank accounts," the firm stated.