iSignthis Reports Q2 2020 Results, Weathers ASX and COVID Storm

iSignthis Ltd (ISX), a payment identity provider, has released its financial results for the second quarter of 2020 this Friday, with the company revealing how its suspension from the Australian Securities Exchange (ASX) has impacted the company.

Although ISX has felt the impact of ASX’s suspension, the company has managed to report its fifth consecutive quarter of positive operating cash flows, with iSignthis noting $1.6 million for the three month period, slightly down from $1.78 million in the previous quarter.

Receipts from customers in the second quarter dropped by around 20 percent from the first quarter of 2020 to $8.4 million, the statement filed through the ASX shows. This was due to impacts from the ASX suspension and the coronavirus pandemic.

Reduction in confidence Leads Leads Leads or lead generation are an essential component of marketing and powerful tool by brokers. In its simplest form, leads can be defined as the outreach of customer interest or enquiry into products or services, most often associated with brokerages.These can be created for purposes such as list building, e-newsletter list acquisition, or for sales leads. Amongst marketers, such lists are one of their most important assets and instrumental to sales.There are a variety of methods for generating Leads or lead generation are an essential component of marketing and powerful tool by brokers. In its simplest form, leads can be defined as the outreach of customer interest or enquiry into products or services, most often associated with brokerages.These can be created for purposes such as list building, e-newsletter list acquisition, or for sales leads. Amongst marketers, such lists are one of their most important assets and instrumental to sales.There are a variety of methods for generating Read this Term to a drop in client funds

Client funds held by the Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company decreased during the quarter to sit around $82 million. This was because of a reduction in customer confidence as a result of ISX’s suspension from ASX, the company said in its statement.

For the first half of this year, unaudited operating net profit after tax is about $660,000m the statement showed. Excluding the impairment for NSX and costs related to its legal proceedings with the Australian exchange, unaudited operating net profit after tax would have come in around $3.3 million.

Speaking to Finance Magnates John Karantzis​, the CEO of iSignthis, said on the company’s financial performance: “We are delighted with our quarterly results, despite these extraordinary economic conditions. iSignthis continues to deliver results, with strong performance, revenues, and cashflows."

“With the launch of further products this quarter, including our retail flykk® offering to complement our merchant offerings. Our electronic money services integrated with SEPA instant payments are a real growth area, together with our Probanx® CORE banking and SEPA networking software solutions."

“The Company’s unaudited net profit before tax is some $3.3m before non cash impairments and one off costs, or some $660k NPAT actual. The coming quarter will deliver growth against our new products.”