Shares in mobile commerce business PUSHPAY FPO NZX (ASX: PPH) hit a new all-time high of $3.54 today as investor excitement continues to mount over its potential to grow in North America. The dual-listed software business will soon be among New Zealand's leading 50 listed companies despite not yet posting a profit.
As at September 30 2017 PushPay posted annualised committed monthly revenue of US$67.5 million almost double the prior corresponding period as it continues to attract U.S. churches as clients. Its software lets congregation members donate to the churches in digital tithes. It now has 12 of the top 20 and 50 of the top 100 U.S. churches as clients which goes to show how its software and mobile apps must be good at increasing donations.
The stock has nearly tripled in price over the past year, with the company closing in on a $1 billion valuation.
