Novatti Group Ltd
ASX:NOV
Novatti Group Ltd
Novatti Group Ltd. provides software technology and systems integration services. The company is headquartered in Melbourne, Victoria. The company went IPO on 2016-01-18. The company is engaged in the provision of payment services by way of financial transaction processing, subscriber billing, card issuing, merchant acquiring services and payment network integration. The company operates through four segments. Novatti Platform segment develops, deploys and supports mobile and alternate payment technology. Billing Solutions provides Basis2 trading, a technologically advanced billing and customer information system solution to service providers in the utilities industry. Transaction Services segment provides TransferBridge, a global network that interconnects emerging payment platforms, remittance operators, financial institutions, retailers, utilities and all types of telecommunication operators. Banking Services segment provides Novatti IBA Pty Ltd, which offers new banking services to Australian customers with a focus on the migrant demographic. The company operates in Australia and Malaysia.
Novatti Group Ltd. provides software technology and systems integration services. The company is headquartered in Melbourne, Victoria. The company went IPO on 2016-01-18. The company is engaged in the provision of payment services by way of financial transaction processing, subscriber billing, card issuing, merchant acquiring services and payment network integration. The company operates through four segments. Novatti Platform segment develops, deploys and supports mobile and alternate payment technology. Billing Solutions provides Basis2 trading, a technologically advanced billing and customer information system solution to service providers in the utilities industry. Transaction Services segment provides TransferBridge, a global network that interconnects emerging payment platforms, remittance operators, financial institutions, retailers, utilities and all types of telecommunication operators. Banking Services segment provides Novatti IBA Pty Ltd, which offers new banking services to Australian customers with a focus on the migrant demographic. The company operates in Australia and Malaysia.
Record Revenue: Novatti achieved record revenue in Q3, growing 18% year-on-year.
Margins Up: Gross margin in the core Australia and New Zealand payments business hit a record 52%, up from 37% eighteen months ago.
Positive Cash EBITDA: The company reported positive cash EBITDA for the first time, a key milestone in its turnaround.
Cost Reduction: Operating expenses fell for the seventh straight quarter, down 30% year-on-year, with nearly $10 million in annualized savings delivered.
Brand Refresh: Novatti launched a new brand and website, already generating positive feedback and new leads.
Growth Pivot: With a stronger foundation, Novatti is now refocusing on growth, especially in the Australasian payments sector.
Capital Management: The priority is to divest noncore assets, with no immediate need to raise more capital as cash use declines.
Future Focus: Management remains committed to further margin expansion, operational efficiency, and leveraging new brand positioning.
