Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Fintech»FinTech IPO Index Jumps 5% as Sezzle, Expensify Lead Upside
    Fintech

    FinTech IPO Index Jumps 5% as Sezzle, Expensify Lead Upside

    August 16, 20244 Mins Read


    Earnings powered the FinTech IPO Index 5% higher in a week that was, as has been the case for the last month, dominated by earnings.

    Sezzle kept up its post quarterly-report momentum, leaping more than 53% through the past five sessions. The recent Sezzle gains tack on to the 38% rally that came in the immediate wake of earnings.

    Expensify shares rocketed ahead by 51%. The company said this week that core business metrics were stabilizing, as revenue and paid users are within 1% of last quarter, with quarterly interchange, operating cash flow and free cash flow up 14%, 168% and 10% from that quarter, respectively. The company also saw its paid member tally at 684,000, a decrease of 8% YoY. The earnings release also noted that “the majority of active Expensify Card customers began transitioning to the new program, with 34% of spend migrated by end of Q2.”

    Paymentus shares were up nearly 19%. In the company’s latest quarter, revenue was a record $197.4 million, a YoY increase of 32.6%, driven largely by increased billers and transactions. The total number of transactions gained 28.2% to 140.4 million in the most recent quarter.

    XP’s stock leaped 18%.

    The company’s second-quarter results showed that client assets totaled R$1.2 trillion in 2Q24, up 14% YoY and 2% QoQ. Year-over-year growth was driven by R$113 billion net inflows and R$30 billion of market appreciation, per the company’s release. In the latest quarter, total TPV was R$11.5 billion, a 19% growth from last year.

    Open Lending’s second-quarter earnings supplements revealed that the company facilitated 28,963 certified loans during the second quarter of 2024, compared to 34,354 certified loans in the second quarter of 2023. Total revenue was $26.7 million during the second quarter of 2024, compared to $38.2 million in the second quarter of 2023. Open Lending’s shares lost 4%.

    Opportun’s Declining Delinquencies

    Opportun’s stock was up 9%. The company said in its latest earnings report that 30+ day delinquencies declined for second consecutive quarter to 5%. Second-quarter originations of $435 million grew 29% sequentially in line with seasonal patterns. The annualized net charge-off rate was 12.3% in the most recent quarter, compared to 12.5% last year. Total revenue for the second quarter was $250 million, a decrease of 6% as compared to $267 million in the prior-year quarter.

    Upstart’s quarterly financials noted that revenue was $128 million, a decrease of 6% YoY, and remained flat sequentially. Total fee revenue was $131 million, a decrease of 9% YoY. The FinTech originated 143,900 loans in the second quarter, totaling $1.1 billion across the company’s platform in the second quarter of 2024, down 6% from the same quarter of the prior year. Conversion on rate requests, as the release noted, was 15% in the second quarter of 2024, up from 9% in the same quarter last year. Upstart shares gathered more than 8%.

    In non-earnings related news, Affirm shares climbed 10.2% higher. The company said this week that Tekmetric has partnered with Affirm to enable auto repair shops to offer their customers the ability to pay over time.

    Marqeta shares gathered 5.2%. As we noted in our own coverage on the company’s earnings, Marqeta posted second-quarter results that showed total processing volumes (TPVs) surged 32% to $71 billion. Use cases across the company’s platform continue to grow, and 10 of the top 20 company customers volumes grew by more than 50% YoY in the quarter.

    Katapult shares lost 25.3%, having noted in its most recent earnings report that sales were 8.7% higher than the Q2 2023. Katapult Pay originations, the company said, doubled year on year and were 28% of gross originations.

    FinTech IPO Index

    See More In: Affirm, economy, Expensify, Featured News, Fintech Investments, FinTech IPO Index, Investments, katapult, Marqeta, News, Open Lending, Opportun, paymentus, PYMNTS News, sezzle, stock market, Upstart, XP



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Le bénéfice de K Cash Fintech devrait augmenter au premier semestre

    Fintech

    Les fintechs sont de retour en bourse : au tour des françaises ?

    Fintech

    Pourquoi les néobanques attaquent le marché des petites entreprises

    Fintech

    Qonto, la fintech française, sollicite une licence bancaire et vise 2 millions de clients d’ici 2030

    Fintech

    Les fintechs marocaines à l’honneur lors de l’Immersive Fintech Day 2025

    Fintech

    les clients français vont adorer ces nouvelles cartes spéciales NBA

    Fintech
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    Students learn about agriculture at CSI Summer Ag Academy

    Cryptocurrency

    Bitcoin Boom In The Big Apple: How NYC Is Embracing The Crypto Revolution | The Bronx Daily

    Stock Market

    Using AI to drive value in electric utilities

    Editors Picks

    Charting India’s agricultural future: Budget 2025

    January 17, 2025

    Real Estate Broker Butch Clemons Launches Exclusive Living, A Luxury Real Estate Conglomerate

    August 19, 2024

    Prediction: UPS Stock Will Outperform if Management Cuts the Dividend

    May 6, 2025

    UK property market set to rebound amid mortgage rate drop expectations

    August 23, 2024
    What's Hot

    FIP Silver Las Palmas – Un défi de taille en quart pour Leygue et Gil face à Campagnolo et Gala

    May 3, 2025

    Morocco Sees 41% Boost in Cereal Yields

    May 5, 2025

    L&T Technology Services and PS Technology partner to transform railways with advanced Simulation Mobility Technologies

    July 30, 2024
    Our Picks

    Dividend yield stocks: Bears do fear dividend yield and sales growth: 5 stocks which fit the bill, both for medium- and long-term investors

    March 2, 2025

    CoinClinic: What is Cryptocurrency? – Numismatic News

    May 31, 2025

    Le groupe RMC BFM va lancer la radio musicale RMC Gold

    March 27, 2025
    Weekly Top

    Next Cryptocurrency to Explode, 6 July — Story, Alchemy Pay, Injective, MX Token

    July 6, 2025

    Ukraine imposes sanctions on Russian financial, cryptocurrency schemes

    July 6, 2025

    BAY Miner Announces Major Launch: Free Mobile Cloud Mining App Drives Global Expansion into Eco-Friendly Cryptocurrency

    July 6, 2025
    Editor's Pick

    Vaalco prépare une relance ciblée de sa production pétrolière

    April 29, 2025

    Jack Russell, Original Vocalist Of Great White, Announces Retirement From Touring

    July 17, 2024

    la vision d’Autel Energy pour une recharge intelligente au CES 2025

    January 21, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.