Alphabet-backed fintech GoCardless halves losses, targets 2026 for debut profit
Published On Feb 3, 2025, 4:26 AM
GoCardless, a fintech company specializing in facilitating recurring payments, reported a loss of £35.1 million for the full year ending June 2024, a significant reduction from the previous year's loss of £78 million. The company attributes this improvement to restructuring efforts, including a 15% reduction in workforce, and a 41% increase in revenue to £132 million. CEO Hiroki Takeuchi expressed plans to achieve full-year profitability by 2026, highlighting both cost efficiency and revenue growth as crucial targets.
Stock Forecasts
FINV
Positive
GoCardless has shown solid progress towards turning its financial situation around by significantly cutting losses and increasing revenue. Given its strategic focus on efficiency and growth, along with its backing from major investors like Alphabet and BlackRock, there is optimism about achieving profitability in the next couple of years. The company's active exploration of M&A opportunities also presents growth potential.