This report is an updated version of the report published on 24^th June 2025 at 4:58 PM (GMT +12) 

PaySauce Limited

PaySauce Limited (NZX: PYS) is a multiple award-winning cloud-based FinTech business, delivering Software as a Service payroll solutions to small and medium sized enterprises.

Recommendation Rationale – Sell at NZD 0.22

• PYS announced that independent director, Mike (MOD) O'Donnell, gave notice of the intention to resign from the board.
• During FY 2025, the company’s average revenue per user (ARPU) declined 5% to $86 from $91 as at 31 March 2024. The rise in processing fee income was diluted by the decline in interest rate income.
• NPAT of the company was $0.68 Mn, reflecting a fall of $0.55 Mn from the last year. FY 2024 net profit after tax was inflated by the deferred tax asset of $1.02 Mn, which was recognised in relation to the losses carried forward.

PYS’ Daily Price Chart

PYS Daily Technical Chart, Data Source: REFINITIV

Considering the increasing volatility over global equity market, inflationary pressures, geopolitical tensions, etc., it is prudent to book profit at the current levels.

Hence, a ‘Sell’ rating has been provided on the stock at the current price of NZD 0.22 per share (New Zealand Time: 4:45 PM, GMT +12) as on 24 June 2025.  

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing. 

Note 1: Past performance is neither an indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 24 June 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above. 

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.  

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest. 

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.