Client activity to drive substantial growth in revenue
ChimpChange (CCA) is poised to deliver substantial revenue growth in FY17 and FY18 based on consensus estimates. Monthly client additions have been running 9% above the company’s target since September 2016. Card activity rates doubled from 7.8% in February 2016 to 15.6% by September (Q1) and November data suggest further expansion. Ultimately, activity generates transaction volume and revenue and these positive trends augur well for the future. Consensus expects revenues to grow tenfold in FY17 and nearly sixfold in FY18. CCA trades on a FY18e P/E of 28x, which looks undemanding given its early stage of development. December and Q2 figures are expected later this month.
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