Afterpay (ASX:APT) has today announced a loss of $79.2 million for the half, even after delivering across key metrics.

The fintech reported a 106% growth in sales to $9.8 billion, which translates to 112% on a constant currency basis.

Income has also grown by 114% on constant currency to $385.2 million, while net transaction margin increased 110% higher at $213.9 million.

Increased customers and global expansion

Afterpay said it is still focused on global expansion outside of Australia, with international operations making up 51% of its total transactions, up from 34%.

The company said its active customer base has increased by 13.1 million users, or an 80% increase on pcp. Of this, North American customers make up 8 million and grew by 127%. Repeat customers make up 91% of all sales transactions during the period.

Expansion pipeline includes the Spanish acquisition of Pagantis, which it expects to wrap up by March. Other inroads into European countries are also under way, with launches in France and Italy in the works. Those countries will represent a $1 billion of merchant contracts, according to the company.

Southeast Asia will be the next frontier, with the recent acquisition of Empatkali after establishing an Asian headquarters in Singapore.

Capital raising and trading halt

Afterpay has today requested a trading halt in its shares after announcing a $1.25 billion in convertible notes issuance, as it plans to increase its ownership of Afterpay US.

The company said the deal will see Matrix and other US businesses sell down their equity interests in Afterpay US, so that Afterpay’s stake in the business would rise from 80 per cent to 93 per cent.

The company’s two founders announced that they would sell down a total of 950,000 Afterpay shares, with some of the proceeds to be used for the charitable funds.

The company did not provide any guidance for the remainder of the financial year.

The Afterpay stock price has returned around 100% for the past year, but has come under pressure for the past month, dropping by 6%, as tech stocks are sold off across the globe.


Afterpay share price chart: