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Fonix Mobile - Upgrade to forecasts

October 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FNX
  • Price:
  • 185p
Mobile payments business Fonix is focused on leveraging its highly scalable cloud-based IT platform to expand with existing clients and win new ones and its full year update for the period ended 30 June is bearing this out nicely. Total payment value (TPV) is now expected to rise from £258m to £268m this year before spiking to over £300m in 2024. That has led to a 4% rise in EBITDA profit to £11.6m in H1 ‘23. Encouragingly, this year’s launch into Ireland has made strong progress with 16% of the Irish population already using the platform while three new Tier 1 clients have “gone live”. Encouragingly, Fonix has also retained 100% of its existing clients while there’s been no churn for major customers in seven years. Broker ...

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