Redeye update: Hardware-as-a-Service in the making

Redeye update: Hardware-as-a-Service in the making
15 May, 2019 Alexander Nilsson
In News

“For the last twelve months, the recurring revenue was approximately SEK 15.8m or about 27% of r12m net sales. According to our best estimate, the recurring revenue during Q1 amounted to roughly SEK 4.5m, which is an increase from last year by a whopping 36%. We believe that Westpay will have approximately SEK 20m in recurring income during 2019. We believe that the increasing recurring income that Westpay has goes a bit unnoticed by the market, partly because the figures are only presented on a trailing twelve-month basis in a diagram. The company has long discussed about a Hardware-as-a-Service (HaaS) model where the payments terminals are rented instead. The HaaS model is sought after by the customers, and we believe that there will be more of those type of deals coming for Westpay.”

– Redeye Equity Research

Hardware-as-a-Service in the making .pdf