New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<h2>Pushpay (PPH)<br>FY22 guidance narrowed (in line with Forsyth Barr forecasts)</h2>
<ul>
<li>PPH has this morning announced that it has narrowed its FY22 EBITDAFI guidance to US$61.5m to US$63.5m (from US$60m to US$65m)</li>
<li>We make no changes to our forecast FY22 EBITDAFI of US$62m</li>
<li>The company has stated that it sees positive increases in processing volumes for each month of FY22, with total processing volume for the 11 months to February 2022 +10% on the prior comparable period</li>
<li>PPH is using its operating cash flow to repay a proportion of debt used to fund the Resi Media acquisition as expected</li>
<li>There is also mention of a disestablished share incentive scheme and repurchase of 138,336 unallocated shares as a result (at no apparent cash cost to the company)</li>
<li>PPH reports its FY22 result (March year end) on 11 May 2022</li>
</ul>

Pushpay (PPH) FY22 guidance narrowed (in line with Forsyth Barr forecasts)

PPH has this morning announced that it has narrowed its FY22 EBITDAFI guidance to US$61.5m to US$63.5m (from US$60m to US$65m)
We make no changes to our forecast FY22 EBITDAFI of US$62m
The company has stated that it sees positive increases in processing volumes for each month of FY22, with total processing volume for the 11 months to February 2022 +10% on the prior comparable period
PPH is using its operating cash flow to repay a proportion of debt used to fund the Resi Media acquisition as expected
There is also mention of a disestablished share incentive scheme and repurchase of 138,336 unallocated shares as a result (at no apparent cash cost to the company)
PPH reports its FY22 result (March year end) on 11 May 2022


Pushpay (PPH): FY22 Guidance Narrowed (In Line with Forsyth Barr Forecasts)

Pushpay Holdings

Pushpay (PPH): FY22 Guidance Narrowed (In Line with Forsyth Barr Forecasts)