26 May 2017
Find out more

Monitise revenues soar as profitability lags

23 July 2013  |  4967 views  |  1 Iphone screen close up

UK mobile money outfit Monitise is reporting a near-doubling of revenue for the year to end-June 2013.

In a trading update, Monitise says it expects to record full-year 2013 revenue of at least £70m, compared to £36m in FY 2012. The group makes no estimates on the P&L side, but concensus forecasts indicate a significant increase in losses at the Ebitda level as the company continues to scale its operations.

The company has a strong balance sheet, with £85 million cash in hand following a £100 million fund raising effort late last year. At the time, Monitise warned of a delay in its quest for "near-term" profitiability.

The year has been one of significant corporate and business activity, with the firm making three acquisitions, expanding its partnership with Visa and launching a number of new products in local and overseas markets.

Monitise Group CEO, Alastair Lukies, says: "While the global mobile money landscape is growing as predicted, it is gathering momentum faster than anyone anticipated. Our strategic focus on enhancing our existing mobile banking and payments franchises with world-leading mobile commerce capabilities has proven to be very timely."
KeywordsFINDEX

Comments: (1)

A Finextra member
A Finextra member | 23 July, 2013, 12:25

Call me old fashioned - but i am not sure i get a business model that delivers, (after Gdnose how many years of funding rounds, mezz funding, dilution and expansion) a model that shows Losses growing in line with revenues..  I get it, that for a couple of years a business loses money... Monetize seems to have taken out a patent on doing it for longer than any other company on earth!  

On this basis - Monetise is possibly (along with Facebook) would appear to be one of the dinosaurs of the Dot Com/Mobile boom - unable to make the model work - but continuing to stomp around looking big and menacing,   whilst more nimble  'mammalian' businesses steal their lunch!   Will their Dinner be 'Jam tomorrow'?

 

1 thumb up! 1 thumb up! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Visa/Monitise joint venture in India signs up Icici Bank

Visa/Monitise joint venture in India signs up Icici Bank

22 July 2013  |  6811 views  |  0 comments | 4 tweets | 2 linkedin
Monitise and Telefónica form mobile money partnership

Monitise and Telefónica form mobile money partnership

01 July 2013  |  7129 views  |  0 comments | 8 tweets | 5 linkedin
Lloyds targets Mpos market through Monitise deal

Lloyds targets Mpos market through Monitise deal

26 June 2013  |  11688 views  |  0 comments | 8 tweets | 15 linkedin
Monitise launches white label mPOS system

Monitise launches white label mPOS system

14 May 2013  |  10047 views  |  0 comments | 20 tweets | 13 linkedin
Monitise set for revenue boost from new three-year Visa deal

Monitise set for revenue boost from new three-year Visa deal

06 March 2013  |  7624 views  |  1 comments | 1 tweets | 2 linkedin
BMO forms mobile money alliance with Monitise

BMO forms mobile money alliance with Monitise

20 December 2012  |  7687 views  |  0 comments | 7 tweets
Monitise confirms placing, acquisitions and delay to break even

Monitise confirms placing, acquisitions and delay to break even

04 December 2012  |  7092 views  |  0 comments | 2 tweets
Monitise in talks to raise £100m

Monitise in talks to raise £100m

29 November 2012  |  7241 views  |  1 comments | 5 tweets | 3 linkedin
Monitise FY losses widen despite revenues doubling

Monitise FY losses widen despite revenues doubling

04 September 2012  |  5462 views  |  0 comments
Monitise agrees Clairmail acquisition

Monitise agrees Clairmail acquisition

26 March 2012  |  7846 views  |  0 comments
Visa and Monitise partner HDFC on Indian mobile money

Visa and Monitise partner HDFC on Indian mobile money

22 February 2012  |  11906 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Download the paper nowvisit www.response.ncr.comVisit www.capgemini.com/worldreports

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
11173 views comments | 48 tweets | 72 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
9354 views comments | 21 tweets | 24 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7099 views comments | 12 tweets | 24 linkedin
Security experts struggle in search for WannaCry clues - ReutersSecurity experts struggle in search for Wa...
6429 views comments | 3 tweets | 3 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job