Zip, the buy now, pay later company said revenue reached $129.9 million for the fourth quarter of the year - up a whopping 104 percent on the year ago same period.
Overall transaction volumes hit a record $1.8 billion for the quarter - up 116 percent year on year.
US revenue soared 280 percent on the year to $64.3 million and were up by39 percent in Australia to $61.4 million.
Zip chief executive Larry Diamond described the quarterly figures as “another outstanding set of results…with record numbers delivered across the business in all of its operating regions.”
In addition to the very strong financial performance, Diamond said Zip continued executing on its global BNPL expansion strategy across both the developed and emerging markets.
“We are now a global player with a presence in 12 markets and this is a real point of difference as we target global retailers and fulfill our mission to become the first payment choice everywhere, every day,” he said in an ASX release on Thursday.
However, UBS analyst Tom Beadle said while Zip’s top-line metrics continue to show high growth in absolute terms, fourth-quarter volumes were way below expectations. “There were significant volume misses vs UBS forecasts,” he said in a client note.
Beadle said volumes in the US 10 percent missed UBS expectations by 15 percent and by 10 percent in Australia “Without reading too much into one quarterly result, it is clear to us the momentum in the US in particular has slowed considerably versus expectations.
Zip shares fell around 7 percent to $7 by close of trade.