November is upon us and the holiday season is about to be in full swing. As always at the beginning of each month, we’ve got our monthly revenue report and analysis. In this piece, you’ll see Cryptopay’s total revenue, the amount distributed to token holders, and the revenue share (in euros) per 100 CPAY. After reading this article you’ll have a firm grasp of how our business performed in October and also our outlook for the near future.
The company’s revenue has begun slowly recovering from the temporary downturn that was seen in September 2018. When looking at October, the total revenue figure is 17% higher and this first week of November is looking promising as well. The revenue stream from individual customers, as opposed to our B2B clients, has increased by approximately 7% — the BTC and other cryptocurrency price movements were not very noteworthy due to the fact that October followed a similar trend to September. Despite the low market we managed to slightly increase our active user base, which resulted in an improved earnings figure.
The team has been quite pleased with the revenue stream coming from our B2B operations as October 2018 exhibited a growth of 34% in comparison to September 2018. Several of our promising newly onboarded merchants switched the valves the half of their maximum capacity so the result wasn’t a big surprise.
As for one of our newer products, Buy Now, our team has been fully focused on releasing a completely new version of the service to its users, and the market at large. We’re proud to say that they met their stringent deadline and have improved the interface and expanded the number of available fiat currencies that people can buy BTC and ETH with. The ease and convenience of Buy Now has allowed this product to fit into Cryptopay’s larger service.
The Russian card programme was successfully launched during the beginning of October 2018 and we were able to deliver the first batch of cards to all those who submitted a pre-order. As of now, our developers are finalising a significant release which will update the card operation process making the cards work even smoother as well as fixing minor bugs that have been identified by the first round of customers. While the revenue numbers don’t show it, we have considered the first stage of the Russian card programme a success and we’ve been able to identify what the problems are and now we’re in the midst of fixing them.
Total October 2018 revenue: € 96,430
October 2018 Revenue share: € 9,643/50.6620 ETH
Share per 100 CPAY: € 0.01
Distribution date: November 7th, 2018
To reiterate some of our other revenue reports, it takes around two months for the volumes of each newly acquired B2B partner to be realised. Taking this into consideration, we expect B2B figures to improve even more in November 2018. As for the Russian cards, once all card operations are working as they should, we’re very optimistic for this product’s success. After all, this is the first of its kind card programmes in Russia and according to our recent research the demand for this type of cards is huge — almost 50,000 people have confirmed their interest to use this product.