Equals Group Records 84% YoY Growth in Revenue in H1 2022

Equals Group, a UK-based fintech payments company, has released its financial results for the first half of 2022 ended 30 June, unveiling that its revenue for six months hit a record high at £31.3 million, up 84% from the last same period of £16.9 million.

Gross profits for the period was expected to rise 47% from H1 2021 of £10.2 million to £15.0 million, with gross profit margins at 48.2% in the aggregate. In terms of cash balances, the figure reached £15.1 million after earnouts paid, compared to that of 30 June 2021 at £10.1 million.

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Besides, the company projects Adjusted EBITDA for FY-2022 to be beyond current market expectations.

"We are extremely pleased to see an 84% increase in our revenues in the first half with all segments performing exceptionally well. We believe that our revenues are highly 'inflation-resistant' and that this should be beneficial for the Group and our Shareholders in the second half of 2022 and beyond," Ian Strafford-Taylor, Chief Executive Officer, stated.

At the end of March, Fazzaco reported that Equals' total revenue for FY-2021​ increased by 52% YoY to £44.1 million.