Mint Payments Limited announced consolidated unaudited earnings results for the full year ended June 30, 2018. For the period, the company reported revenue of AUD 3.7 million against AUD 5.4 million a year ago. Loss before income tax was AUD 5,271,600 compared to AUD 5,280,206 a year ago. Net loss for the year attributable to equity shareholders was AUD 5,271,600 or 0.78 cents per basic and diluted share compared to AUD 5,280,206 or 0.88 cents per basic and diluted share a year ago. Net cash used in operating activities was AUD 4,388,313 compared to AUD 5,419,883 a year ago. Payment for plant and equipment was AUD 147,854 compared to AUD 25,688 a year ago. Payment for IT development was AUD 306,003 compared to AUD 235,364 a year ago. Loss from ordinary activities was AUD 5.3 million against AUD 5.3 million a year ago. Total revenue was down and impacted largely by the decrease in non-recurring revenues (services, sales of goods and R&D). Non-recurring revenues decreased by 58% from the previous financial year, largely due to the absence in one-off hardware sales this financial year. Reported loss from ordinary activities maintained at last year's position, despite the decrease in overall revenues. This was partly due to the cost saving initiatives the company implemented effectively from fourth quarter of fiscal year 2018. Net tangible assets per share was 0.24 cents against 0.11 cents a year ago.

The company is expecting fiscal year 2019 to be a transformational year. The company has successfully established a core base of customers and products in Australia and New Zealand that has seen a continued CAGR of 88% over the last three years in the company's recurring revenues. The company expects this growth trend in recurring revenues to continue, maintaining the company's forecast of between AUD 4.0 million to AUD 5.0 million in fiscal year 2019. Revenue growth, operating leverage and cost savings to deliver monthly cash flow positive and profitability in fiscal year 2019.