Plexure (ASX: PX1) gets another endorsement from Maccas
Nick Sundich, August 1, 2022
Plexure (ASX: PX1) has been through a difficult time since listing, but got some respite this morning. The New Zealand-founded mobile engagement platform listed on the ASX in late 2020, having already listed on the NZX.
When it listed, one of its key selling points to investors was that McDonalds backed it as a client and an investor – it owns just over 4% of the firm. This morning, the fast-food giant gave Plexure another endorsement.
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Who is Plexure?
Plexure is a company that helps consumer brands deliver one on one offers through their mobile devices. These individual offers are designed to drive traffic to physical stores. In the 12 months to 31 March 2022, it achieved NZ$32.6m in revenue, but an EBITDA loss of $15.6m.
Shares have suffered as investors turned away from non-profitable companies. Although McDonalds has backed the company, PX1 struggled to broaden its customer base. A merger with Australian group Task did little to help broaden its appeal, even though it won some notable deals – including with Accor Stadium in Sydney.

Plexure (ASX:PX1) share price chart (Graph: TradingView)
Another deal from McDonalds and solid FY23 guidance
But this morning, shares rose over 80% off the back of two pieces of goods news. First, McDonalds signed another 5-year contract with the company. And secondly, it gave guidance for FY23 which indicated profitability. For the year ending 31 March 2023, it is expecting NZ$56m in revenue, up over 70% from FY22, and $3.7m in positive EBITDA.
Plexure is one of several companies that have been through one-day jumps after announcing that profitability was expected in the forthcoming financial year. But for companies such as Plexure, with a history of under-delivering, we would exercise caution until it actually achieves these results (at least on a half-yearly basis).
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