The company has managed to report its fifth consecutive quarter of positive operating cash flows.
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 to a drop in client funds
Client funds held by the Payments 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.”
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 to a drop in client funds
Client funds held by the Payments 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.”
Insurtech, Crypto, and Blockchain: The Fintech Trifecta of Q1 2024
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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