Weyland Tech Reports 2019 Preliminary Results

Revenue up 53% to Record $34.6 Million, Driving First Quarter of Positive Adj. EBITDA - Seite 2

On a combined pro forma basis, the companies anticipate reporting $11.9 million in revenue for the fourth quarter of 2019, with total revenue of $42.3 million for the year. The combined annualized run rate on a pro forma basis totaled more than $60.6 million at year-end.

Weyland also reported that the new AtozGo local food delivery service launched last summer in Jakarta, Indonesia, by its mobile payments subsidiary, AtozPay, has reached a registered customer base of 74,000 mobile users. About 22% of the userbase has been generating more than 15,400 deliveries per day. AtozGo has also nearly reached breakeven, which compares to global competitors which report 2%-3% average customer usage and expect continued losses for the next few years. AtozGo plans to continue to reinvest in user growth and regional expansion with its unique pedestrian-powered approach to urban food delivery. AtozPay’s total gross mobile transaction volume totaled $16 million in 2019.

“Our record results for 2019 reflect the strategic investments we made over the last few years to grow customer demand, leverage our distribution partnerships, and continually enhance our CreateApp PaaS based on customer feedback,” noted Weyland Tech CEO, Brent Suen. “This has resulted in a rapidly expanding customer base with low attrition, along with an increasing average revenue per customer. We have also benefited from markets with exceptionally strong growth in smartphone-driven m-Commerce, making CreateApp increasingly relevant and essential to businesses looking for a competitive edge in an increasingly mobile world.”

According to the e-Conomy SEA 2019 Report issued by Google, Bain & Company, and Temasek investment fund, Southeast Asia (SEA) has become one of the world’s fastest-growing regions for online commerce. The region’s internet economy hit $100 billion last year and is expected to triple in size by 2025. Of the 360 million Internet users in SEA (which accounts for about two-thirds of the population), 90 percent access the Internet via their mobile phone. The adoption of digital payments has also reached an inflection point, says the report, and is expected to cross $1 trillion by 2025 and represent about half of all financial transactions.