PAX Global Technology ( (PXGYF) ) has released its Q4 earnings. Here is a breakdown of the information PAX Global Technology presented to its investors.
PAX Global Technology Limited, a leading provider of electronic payment terminal solutions, has reported its financial results for the year ended December 31, 2024, amidst challenging global economic conditions. The company, known for its Android smart payment terminals and SaaS solutions, operates in the electronic payment industry with a strong focus on innovation and global market presence.
The 2024 financial year saw PAX Global Technology experiencing a decline in revenue by 9.9% to HK$6,044.9 million, and a significant drop in profit for the year by 38.1% to HK$720.9 million. Despite these challenges, the company increased its gross profit margin to 47.2%, driven by cost reductions and a favorable sales mix. The company also reported a rise in research and development costs, reflecting its commitment to innovation.
Key highlights from the report include a strong performance in the EMEA region, which emerged as the largest revenue contributor, and steady sales growth in the Android EPOS business, particularly in North America. The company also saw a 30.5% increase in revenue from its SaaS solutions, demonstrating the growing demand for its value-added services. PAX Global Technology continues to strengthen its market presence with strategic acquisitions, such as the full acquisition of Pax Technology Australia Pty Ltd.
Looking forward, PAX Global Technology remains focused on expanding its global footprint and enhancing its product offerings. The company plans to increase investment in R&D and explore strategic mergers and acquisitions to optimize its global sales network. Management is optimistic about leveraging its Android smart terminal technology and SaaS solutions to drive future growth and capitalize on emerging business opportunities.