Cornerstone FS Reports 129% YoY Increase in Revenue in H1 2022

Fazzaco learned that Cornerstone FS, the cloud-based provider of currency risk management and international payments, has released its unaudited financial results for the first half of the year ended 30 June 2022.

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The Group's total unaudited revenue for H1 2022 was approximately £1.9 million, up 129 percent compared to the same period in 2021. Moreover, the group disclosed that the revenue generated by clients directly continued to increase significantly during H1 2022 to approximately 75% compared with 28% for the first half of the previous year.

Additionally, the gross margin for Cornerstone FS came in at 61%, compared to H1 2021's 38.1% and the full year of 2021's 51.6%.