New Zealand-based financial technology company Pushpay Holdings Ltd. raised its earnigns guidance for the fiscal year ending March 31, 2020, as it estimates slightly lower costs in the second half than previously expected.
The company said it now expects to post EBITDAF of between US$23.0 million and US$25.0 million for the full fiscal year, compared to its prior forecast of between US$18.5 million and US$20.5 million, according to a Sept. 20 filing.
Pushpay attributed the raised EBITDAF guidance to lower-than-expected costs in the second half as a result of cost efficiencies achieved in recent months, as well as the accounting impacts of IFRS 16.
Meanwhile, the company lowered its operating revenue forecast to between US$121.0 million and US$124.0 million, compared to its prior guidance of between US$122.5 million and US$125.5 million. The lowered forecast was attributed to a year-over-year decline in new customer acquisition over the start of the fiscal year.
