Emerald Financial Outlook on Novatti Group (ASX: NOV) – BUY
Despite being a fintech company that was adversely affected by the COVID-19 pandemic where international travel restrictions stalled a sizable portion of international payment processing revenue, Novatti has weathered the pandemic by expanding other areas of the business which have enabled the Company to emerge in a stronger position than it was pre-pandemic.
Emerald Financial maintains its Buy rating on Novatti which re-allocated resources between its various business divisions to set a foundation for substantial revenue growth in FY21 and beyond through core tech partnerships.
- Record Half-Year Revenue – $7.35m reported for H1 FY21;
- Seven consecutive quarters of record processing revenue;
- RADI Banking License resumed review in March 2021;
- Revenue drivers in motion with licences secured and Tier 1 partners signed in sector with high entry barriers;
- Novatti payments fully integrated into Apple Pay, Samsung Pay and Google Pay;
- Digital Payments Accelerator driving Visa card issuing platform;
- International expansion of Emersion to the United States on track;
- RentPay ‘next generation’ payments platform to launch in FY21;
- $40m post-money valuation of Novatti IBA underquoted in current NOV market cap;
- Novatti ecosystem emerging alongside launch of Lifepay app;
- Regulatory licence secured in New Zealand for card issuing expansion;
- Cryptocurrency Payment Gateway patent application lodged.
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