Financial Highlights
• 78% growth in revenue to £19.27 million (FY 2014: £10.82 million)
• On a like-for-like basis revenue grew by over 55%
• Transactional revenue was in excess of 84% of the total revenue
• 90% growth in adjusted gross profit to £15.66 million (FY 2014: £8.25 million)
• Net cash used in operating activities decreased to £2.90 million (FY 2014: £4.36 million), despite significant new investments
• Loss before taxation increased to £8.71 million (FY 2014: £6.33 million). This includes:
• Administrative costs of £19.94 million (FY 2014: £14.37 million) which increased primarily due to full year costs of Baydonhill, warrant costs of £0.73 million (FY 2014: £0.32 million), share-based payment charge of £3.29 million (FY 2014: £1.75 million) and an adjustment of unrealised fair value gain amounting to £0.35 million (FY 2014: £2.27 million)
• Cash and cash equivalents at 30 June 2015 of £30.20 million (30 June 2014: £9.46 million)
• Achieved positive cash flow in multiple months during the second-half of the financial year

Strong Operational Progress
• 31 new clients signed during the year (FY 2014: 33)
• 22 clients went live during the year (FY 2014: 14)
• Transacting new clients include some of the largest and most sophisticated financial institutions
• Continued growth in business from existing clients, including Bank of America, with multiple new add-on projects underway
• Success in the ecommerce and shared economy marketplaces, with some of the fastest growing companies contracted
• Dollar value of payments grew by over 75%

Hank Uberoi, CEO of Earthport plc, commented: “Over the past year broad acceptance of the Earthport model has accelerated, enabling the Company to experience increased demand and recognition for its services across industry segments and geographic areas. Given the size of the opportunity, which is estimated to be several trillion dollars in payments value, we are investing at an accelerated pace in our people, geographic footprint and product development to maximise medium and long-term success. We will continue to focus on significant, demonstrable and recurring revenue, targeting financial institutions, money transfer organisations, high growth ecommerce and payment aggregators. Earthport is in the best position it has ever been in to take advantage of the significant opportunity in front of us.”