ASX listed Zip Co has provided a market update for Q4

Sliding on a zipline

ASX listed Zip (ASX Code: ZIP) provided a quarterly update with the following metrics:

Revenue 📊: $ 160.1m

Transaction volume 📲 : $2.2b

Customers 🛍: 12m

Merchants 🛒: 90.7k

  • The company also stated it has signed key enterprise merchants such as Qantas (ASX:QAN) and Bed Bath and Beyond and has $278.6m in available cash and liquidity.

  • More recently, the company terminated a Merger Agreement with Sezzle, a US focused BNPL company.

  • Co-founder, CEO and MD Larry Diamond stated in the ASX Announcement

"We are pleased to announce another solid set of results across our key operating metrics in Q4, demonstrating the continued strength of the Zip business. All this was done whilst balancing and implementing our updated financial strategy to fast-track profitability, by reducing our global cost base, and refocusing our capital and efforts on core products and core markets."

  • Zip's share price last traded at 74c up 11% post the announcement.