Expertise

Investor Relations

Year-end earnings and annual report 2016

Financial highlights

  • Revenues increased 18% to £22.8 million, within the range referenced at the Capital Markets Day held on 27 April 2016 (available at www.earthport.com/investors)
  • Transactional revenues comprised approximately 91% of total revenue
  • Adjusted gross margin of 70% resulting in adjusted gross profit of £15.9 million*
  • Gross margin of 67.4% after impact of warrant charge, resulting in gross profit of £15.3 million
  • Cash and cash equivalents at 30 June 2016 of £14.4 million and consistent with guidance at the Capital Markets Day

* Impacted by elevated transaction costs related to building resilience of the Earthport network.

Click here to view the report or download here.
The full year results presentation can be viewed here.

The changes in the payments landscape are picking up speed, driven by trade and business flows and the impact of regulations. Earthport is well positioned to act as a facilitator of change in the cross-border payment market.

We continue to develop the world's leading cross-border payments platform; to provide our clients with access to a network that reaches any bank account, in any currency, through one connection with world-class compliance, resilience, trust and cost optimisation.

The investments made during FY16 have improved traction with key European and North American banks and business enterprises, with volume growth continuing into the first quarter with a healthy pipeline. We remain positive regarding the growth prospects for Earthport and believe we have the potential to build and hold a significant share of the multi-trillion dollar cross-border payments market.

We are committed to meeting market forecasts for the 2017 fiscal year and achieving our target of becoming cash flow positive during the fourth quarter of the financial year.
Hank Uberoi, CEO of Earthport