Monitise has seen revenue rocket 63 per cent for its HY1 2012 as it aims to hit £70m for its full financial year.
The firm’s fortune, revealed in its interim results for the six months to 31 December 2012, is a stark contrast to Morse, from which it was spun off in May 2010, and which became part of the ill-fated 2e2 UK.
Revenue for the first half of the year hit £27.8m, but the firm saw EBITDA loss of £14.7m, compared with a loss of £4.2m in H1 2012.
Monitise said this was in line with management expectations, reflecting the takeover of Clairmail and the continued investment of scaling of the Monitise Enterprise Platform and group service delivery capabilities.
Pre-tax loss stood at £24.4m, compared with a £1.1m profit in H1 2012. It also revealed it has £106.4m in the bank, and has seen registered customers hit 20 million, compared with six million a year ago.
Transactions have also grown fourfold, with the firm processing two billion over the past year.
Alastair Lukies, chief executive of Monitise, said: “Performance during the six months ended 31 December 2012 saw revenue continue to rise on the previous period, with gross margins lifted by the ongoing shift towards growing user-generated revenue.
“Monitise’s overall performance during the period reflected the ongoing investment in scaling the business to meet the increasing global demand for Mobile Money and strategic moves taken to consolidate the Group’s leadership position globally. Our vision is clear. As a result of our interoperable platform and ecosystem of customers and partners, consumers globally can bank anywhere, pay anyone and buy anything via their mobile.”
Duncan McIntyre, chairman of Monitise, added: “This has been yet another successful period in the Monitise journey. We were delighted with the strong investment community interest and support shown for our business with the capital raise carried out in December 2012. The proceeds from this are being used to rapidly scale our business as we enhance our global position, laying deeper foundations for future growth.”
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