Equals (AIM:EQLS), a provider of payment solutions to SMEs, published a trading update for the 11 months of 2022. It ended the period with revenue of £63.5 million, which is a significant 61% increase compared to £39.5 million reported in the same period a year earlier.
According to Monday’s filing, the daily revenue increased to £0.27 per day from £0.17 in 2021. Based on these values, the Management Board is confident that Equals’ full-year results will exceed current market expectations.
“We are extremely pleased to see a 61% increase in our revenues in the 11 months ended 30 November with all segments performing strongly. Our revenue growth has continued in the face of difficult macro environments and this augurs well for 2023 and beyond. We continue to invest in people, products and technology to drive our growth strategy and look forward to updating the market in early January with our full year trading statement,” Ian Strafford-Taylor, the Chief Executive Officer of Equals, said.
Following the publication of Monday’s trading update, EQLS shares gained more than 6% at the opening of the London session, testing $100 per share, which is the highest level since September. However, at the time of writing, the price is retreating to $95, shearing the day’s gains to 1.5%.
A Modest H1 2022 Net Profit
Equals has not yet released its third quarter report, but in September, it shared financials for the entire first half of 2022. The data showed that the company managed to post a modest profit of £0.8 million, rebounding from a net loss of £1.2 million reported in the same period a year earlier.
However, partial figures for the third quarter showed a more significant increase in revenue. In the period from 1 July to 5 September, they amounted to £13.3 million, growing year-on-year by 55%.
Last week, Equals announced that it intends to acquire the open banking startup
Startup
A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few.
A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few.
Read this Term, Roqqett for £2.25 million. The acquisition is currently awaiting approval from the UK’s financial markets regulator, the Financial Conduct Authority (FCA).
Equals (AIM:EQLS), a provider of payment solutions to SMEs, published a trading update for the 11 months of 2022. It ended the period with revenue of £63.5 million, which is a significant 61% increase compared to £39.5 million reported in the same period a year earlier.
According to Monday’s filing, the daily revenue increased to £0.27 per day from £0.17 in 2021. Based on these values, the Management Board is confident that Equals’ full-year results will exceed current market expectations.
“We are extremely pleased to see a 61% increase in our revenues in the 11 months ended 30 November with all segments performing strongly. Our revenue growth has continued in the face of difficult macro environments and this augurs well for 2023 and beyond. We continue to invest in people, products and technology to drive our growth strategy and look forward to updating the market in early January with our full year trading statement,” Ian Strafford-Taylor, the Chief Executive Officer of Equals, said.
Following the publication of Monday’s trading update, EQLS shares gained more than 6% at the opening of the London session, testing $100 per share, which is the highest level since September. However, at the time of writing, the price is retreating to $95, shearing the day’s gains to 1.5%.
A Modest H1 2022 Net Profit
Equals has not yet released its third quarter report, but in September, it shared financials for the entire first half of 2022. The data showed that the company managed to post a modest profit of £0.8 million, rebounding from a net loss of £1.2 million reported in the same period a year earlier.
However, partial figures for the third quarter showed a more significant increase in revenue. In the period from 1 July to 5 September, they amounted to £13.3 million, growing year-on-year by 55%.
Last week, Equals announced that it intends to acquire the open banking startup
Startup
A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few.
A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is created by at least one or more entrepreneurs. These seek capital as a means to bypass a limited availability of capital and combat high costs. This is why startups seek funding from funding rounds, crowdfunding, venture capitalists, financial institutions, or other sources. What Makes Startups Successful?Given the fact that most startups fail, the first three years of a startup are critical which is why startup founders require capital for talent acquisition, creating effective business models and plans.In parallel it is important to provide proof-of-concept for the long-term through an established user base and consistent revenue streams. Many startups use seed funding, which occurs during the first stage of funding rounds, where fundraised capital is used to conduct market research and product or service development.Sometimes, startups go through an acquisition process, where they merge larger companies competing in a similar industry. Companies that generate less than $20 million annually, possess less than 80 employees, and are primarily controlled by the founding entrepreneur(s) are generally classified as startups. Today, some of the world’s most successful companies started as startups, such as Facebook, Uber, and SpaceX to name a few.
Read this Term, Roqqett for £2.25 million. The acquisition is currently awaiting approval from the UK’s financial markets regulator, the Financial Conduct Authority (FCA).
Source link
