- Hank Payments (HANK) capped off its second quarter with revenue up 20 per cent YoY
- Its gross margin improved modestly from the previous quarter
- The company expects near-term growth in its automotive, mortgage and other high-margin payment channels
- Hank Payments is a technology company whose platform serves as a personal financial concierge
- Hank (HANK) ended the day at $0.14 per share
Hank Payments (HANK) capped off its second quarter with revenue up 20 per cent YoY.
Jeff Guthrie, President and COO of Hank Payments sat down with Dave Jackson to discuss the results.
The company’s second quarter ended on December 31, 2021, with the following highlights:
- Revenue grew 20 per cent YoY to C$1,304,643
- Revenue was up 11 per cent from Q1
- Gross margin improved to 88 per cent, up from 85 per cent in Q1
- Deployed upgraded consumer portals, including new features and enhancements
- Integrated credit score reporting into consumer portals with customer scores to be accessible in the coming quarters
The company is focusing on advancing strategic transactions and partnerships and building market awareness of its platform.
“During 2021, the average size of an automotive payment on the Hank platform grew by 16 per cent, whereas the average lease payment grew by 8 per cent,” stated Jeff Guthrie, Hank’s President and COO. “These increases signal that consumers have started to bear the brunt of inflation on vehicle costs, which will only be exasperated by raising interest rates.”
“We are already seeing an increased demand for Hank through our auto dealer channels and expect this demand to build as new vehicle inventories return to pre-pandemic levels. Demand for our mortgage and other payment products also continue to climb, and we are investing in these high margin growth channels,” he added.
Hank Payments is a technology company whose platform serves as a personal financial concierge.
Hank Payments Corp. (HANK) ended the day at $0.14 per share.
