- Hank Payments (HANK) has announced continued quarter over quarter organic revenue and margin growth
- Revenue for the second quarter ended December 31, 2021, grew 25 per cent year over year to US$1.05 million
- Gross margins improved to 87 per cent
- Hank technology can help consumers better manage their cash flow and improve their financial wellness
- Hank is a financial technology company. The Hank software platform acts as a consumer’s personal, financial concierge
- Hank Payments Corp. (HANK) opened trading at C$0.19 per share
Hank Payments (HANK) has announced continued quarter-over-quarter organic revenue and margin growth.
Highlights:
- Revenue for the second quarter ended December 31, 2021, grew 25 per cent year over year to US$1.05 million
- Revenue quarter over quarter grew 12 per cent
- Gross margins improved to 87 per cent
Vehicle sales will remain strong in 2022 according to Cox Automotive, a leading provider of insights in the automotive sector. Retail sales in the U.S. are forecast to exceed 35M vehicles.
Automotive dealers account for 75 per cent of Hank’s customer originations which are expected to grow organically as the market supply returns to normal.
In order to expand its consumer reach, Hank is also scaling its digital investment under newly added executive team members. The expansion of digital platforms is showing early promise. Hank has begun directing capital towards scaling this functional customer acquisition team and will advance its technology as trends and conversions dictate, in order to maximize CLTV “Consumer Lifetime Value” to CAC “Customer Acquisition Cost” ratios.
Nine in ten Americans say they are concerned about inflation according to a recent poll. This high level of concern about inflation is held across all age groups, racial and ethnic groups, and income levels. This concern has forced consumers to think of what actions they will take to pay for the things they need. Hank technology can help consumers better manage their cash flow and improve their financial wellness amid consumers growing concerns about their finances.
Jeff Guthrie, President & COO of Hank, commented on the company’s prospects.
“While I am pleased with the predicable growth and the expected recovery in auto, I am very excited about the early activity we are seeing in digital and other strategic opportunities for diversified, cash efficient and profitable growth. We welcome the buoyancy returning to auto and look forward to scaling other channels.”
Hank is a financial technology company. The Hank software platform acts as a consumer’s personal, financial concierge using powerful technology to automate the complexities of personal cash flow management.
Hank Payments Corp. (HANK) opened trading at C$0.19 per share.