市场见解

The Prospa (ASX:PGL) share price is up 12% today. Here’s why

Record revenue growth and originations have sent the Prospa share price soaring.
The post The Prospa (ASX:PGL) share price is up 12% today. Here’s why appeared first on The Motley Fool Australia. –

The Prospa Group Ltd (ASX: PGL) share price is gaining today following the company’s release of a positive trading update.

The financial technology company detailed its performance during the fourth quarter of the 2021 financial year.

At the time of writing, the Prospa share price is trading 12.21% higher at $1.195 after hitting a new 52-week high of $1.20 earlier today.

Let’s take a closer look at today’s news from Prospa.

The quarter that’s been

In its release, Prospa reported record originations and revenue growth. The company’s revenue for the quarter just been was $33.4 million – 17% higher than the previous quarter.

However, due to increased investments in its technology, products, sales, and marketing, Prospa’s operating expenses were $20.9 million – up 17.4% on the previous quarter.

Over the quarter ended 30 June 2021, Prospa saw originations of $182.7 million. That’s up 38.2% on the previous quarter’s originations and 798% more than the prior corresponding quarter.

Nearly three quarters of its originations came from the company’s small business loan and the rest was from its line of credit product.

In New Zealand, the company’s originations increased by 72% quarter on quarter.

Additionally, 50% of Prospa’s customers were returning customers.

Right now, Prospa has $458.6 million of available third-party debt facilities, of which, $97.2 million is undrawn. The company also has $80.4 million of cash.

Commentary from management

Prospa CEO Greg Moshal commented on the news, saying:

Prospa is now benefiting from the rapid recovery in the Australian, New Zealand and global economies. This quarter, Prospa surpassed many of our all-time record results…

Prospa’s success and identity is built on the power of technology. It enables us to efficiently and rapidly service the financial needs of small-to-medium enterprises both within Australia and New Zealand, particularly as many are now reinvesting in the growth of their businesses.

We have further increased our investment in technology this quarter to support our strategy to provide a broader suite of cashflow management products meeting the needs of our customers.

Prospa share price snapshot

Today’s gains have seen the Prospa share price lifting almost 38% higher than it was at the start of 2021.

It has also gained 33.3% since this time last year.

The company has a market capitalisation of around $175 million, with approximately 164 million shares outstanding.

The post The Prospa (ASX:PGL) share price is up 12% today. Here’s why appeared first on The Motley Fool Australia.

Should you invest $1,000 in Prospa Group right now?

Before you consider Prospa Group, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Prospa Group wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Which ASX 200 shares are winning from latest retail trade figures?

Wisr (ASX:WZR) share price remains flat despite positive update
Why the Peak Resources (ASX:PEK) share price is soaring 37% today
Why the Pilbara Minerals (ASX:PLS) share price is up 9% this Thursday
Next Science (ASX:NXS) share price jumps on record revenue growth

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!