Prezzee's Loss Grows, Sales Up
Prezzee reports an Au$40M loss, widening from last year's Au$6M. Cash receipts rose to Au$87M. Unused gift cards likely expire after 4 months.
January 8, 2024
Simon Rowles
Founder, CEO
Prezzee Financial Update
Gift card company Prezzee reported a significant financial shift, posting an Au$40 million loss, a substantial decline from the Au$6 million loss recorded in the previous period.
Revenue Insights
Despite the increased losses, Prezzee’s cash receipts showed positive growth, surging to Au$87 million from Au$38 million the year before.
Gift Card Usage Trends
Interestingly, data suggests that if a gift card is not utilized within the first four months of issuance, it is unlikely to be used at all.
