ASX-listed Stakk rapidly exceeds its own revenue expectations

ASX-listed Stakk Ltd have updated shareholders following the release of its quarterly results, with the company continuing to exploit its Embedded Finance offering in the U.S, generating $512,000 in receipts in the quarter.

Andy Taylor, Chief Executive Officer of Stakk, said, “Our rapid revenue growth in Q4 is the result of a laser-focused, new-business strategy, to aggressively expand Stakk’s Embedded Finance offering in the U.S. market.

“Rightfully buoyed by the obvious inflection point Stakk is at, we anticipate delivering further milestones in the coming two-quarters, including several significant client wins, and renewals.

“It would be remis of me not to point out that, with pedigree clients like Navy Federal Credit Union, the largest credit union in the U.S. today, to smaller banks like Whitaker Bank, Stakk delivers solutions for all shapes and sizes. With Neobank clients like Aspiration, Lili Banking, and Albert, we’re delighted to see Stakk’s solutions being used by the brightest and most innovative players in the industry.

“Finally, as we continued growing our ARR from new client wins, we also intend to expand our Embedded Finance capabilities to meet the emerging technological needs in the commercial lending sector. In essence, this is a sub-set of Embedded Finance, known as ‘Embedded Lending’. More specifically, we intend to deliver these capabilities to lenders, brands, and Fintech’s in both the Australian and U.S. markets once ready to be deployed.

“I look forward to updating the market as we progress and grow.”

Business activities

Stakk finished the quarter with $381,000 cash at bank, with un-billed revenue of $244,000 and cash receivables of $26,000. The company’s activities remain well supported by available financing facilities to the value of up to $1.14 million.

The company collected $514,000 (Q3: $472,000) in cash receipts for the quarter from customers leveraging its solutions. This result reflects the second full quarter of operations following the acquisition of R-DBX and demonstrates a meaningful increase in YoY growth.