Novatti Group Limited [ASX:NOV] has surged 30.43% higher today due to strong revenue outlook.
The company is expecting revenue to double in the last quarter of the 2017 fiscal year. Which comes on top of strong growth through Q2 and Q3 as well. Novatti has attributed this increase to the success of their Flexepin service, and in particular its adoption in Canada for Bitcoin and cryptocurrency transactions.
The service also currently operates in Australia and recently launched in Greece. With plans to extend operations into the UK and Europe following approval. Novatti also operate their China Payments business, which launched in February this year and is showing positive signs.
What now for Novatti?
The surge in Bitcoin and other cryptocurrencies will certainly give Novatti a strong platform to build their financial model around. The transaction process between digital and fiat currency is a hazy area at best, filled with risk. Novatti have managed to capitalise, by offering customers a secure and easy method for exchange.
Novatti will however need to be wary, as cryptocurrencies have the potential to collapse spectacularly. Diversity of their products and businesses should keep them in good stead to manage any potential bubbles. For now though, cryptocurrencies are providing substantial growth for the business and investors.
Junior Analyst, Money Morning
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