Monitise revenues double

Revenues up for the third year

Monitise, a provider of mobile banking, payments and commerce service, has doubled its revenues for the third successive year, following its 30th June 2012 financial year-end (view press release). The unaudited trading update showed that revenues are expected to be approximately USD53 million, up from USD22 million last year. In addition, gross margins for the year are expected to be in the region of 66%, compared with 62% last year, and on track to hit more than 70% by the second half of 2012/13. The number of registered customers is now approaching 16 million, which Monitise claims is three and a half times the level seen at the full-year results in September 2011, with around 0.5 million new customers signing up to the group each month. The results also indicate that profitability in live operations is growing each year, and demand for the Monitise Enterprise Platform is at a high while investment in the platform and its global reach continues in line with market demand.

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