Ayondo Revenue Per Client at $238 in Q1, Valuation Cut in Half a Month after IPO

Ayondo submitted its first quarterly report as a publicly traded company in Singapore

One of the main social trading providers in Europe has reported on the outcome of its first quarter as a publicly traded company. The company which went public earlier this year after several funding rounds from Luminor Capital. Ayondo was valued at $100 million when it debuted.

According to the earnings report for the first quarter of 2018, Ayondo’s trading revenue increased by 68 percent year-on-year to CHF7.29 million ($7.27 million). The results are stemming from an increased number of active clients and higher revenues per user.

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Throughout the last year, Ayondo managed to increase the number of active clients it has from 22,419 in Q1 2017 to 30,539 in Q1 2018. The increase in the number of active clients was largely attributed to a 36 percent increase in the firm’s B2B business.

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Volatility Drives Average Revenues per Client

The average revenue per active client increased by 23 percent CHF239 ($238) in Q1 2018. The results are higher due to the increased market volatility in the first quarter of this year. Brokers from the forex and CFDs trading industry have been reporting much stronger figures in the first three months of the year.

Ayondo’s loss before tax, excluding non-recurring items which in this case are the costs of the IPO declined from CHF 2.3 million ($2.3 million) in Q1 2017 to CHF 1.2 million ($1.2 million) in Q1 2018.

Commenting on the earnings of the firm, the CEO of Ayondo Group, Robert Lempka, said: “Our maiden report as an SGX listed company shows excellent progress and we will continue to focus on the expansion of our B2B and B2C business. We continue to remain vigilant around cost management while investing in product innovation and customer acquisition as part of our FinTech growth strategy.”

Shares of Ayondo traded about 5 percent higher during today’s session. The company’s valuation since it got listed in March was slashed in half. As of today’s market close, the total market cap of the firm is at about $53 million.

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