"The company has provided an updated presentation to the exchange which clarifies the customer growth issue," a Sydney-based analyst told the Herald. "It highlights that a higher level of cross-selling and bundle selling has resulted in more products per customer but it didn't add to total customer numbers. Strong earnings growthIn its interim report yesterday, Pushpay said total customers were 10,896 - up 38 per cent against the first half of FY2020, but flatlined since March. The increases have come as use of Pushpay's software has boomed during US lockdowns. Earlier, Craigs' Ridgewell noted that Pushpay has only one company that could be considered close to a direct competitor - Blackbaud.

Source: New Zealand Herald November 05, 2020 03:00 UTC