Stakk Ltd (ASX:SKK), a leading provider of embedded-finance infrastructure delivering critical SaaS capabilities to over 210 banks, credit unions, neobanks and fintech platforms across Australia and the United States, has announced a record monthly revenue of $575,000 for October. This represents a significant increase of 146% compared to the previous month and a substantial 9,467% increase year-on-year. The company said the results were unaudited.
The company attributes this strong growth to a combination of organic expansion and the initial contributions from recently secured client contracts. Stakk continues to rapidly expand its customer pipeline, with recent contract wins significantly enhancing the Company’s credentials and demonstrating the growing adoption of their SaaS-based, embedded finance solution.
According to the announcement, the record revenue result is material and further demonstrates the aggressive rate of growth of the Company. With a solid cash reserve of approximately $16 million and a clean balance sheet, Stakk says it is well-positioned for continued expansion and to capitalise on future opportunities in the embedded finance market.
The announcement was approved for release on the ASX by the Board of Directors. More information about Stakk and its services can be found at www.stakk.tech.
