June 2018 Revenue Report & Analysis
Here we are yet again. Our revenue report and analysis is here, and keeping with tradition we’re breaking down the past month’s revenue, while showing the entire amount, the 10% that is distributed to token holders, and the amount of revenue per 100 CPAY. As always, we’ll close this piece out with our outlook for the future.
Total June 2018 revenue: € 205,387
June 2018 Revenue share: € 20,539
Share per 100 CPAY: € 0.02
Distribution date: July 5th, 2018
If we’re to look at the revenue figures for June compared to May, unfortunately, they have decreased by 21%. The driving force behind this was the USD/BTC exchange rate which decreased significantly by 19% from $8,325 in May to $6,783 in June. Cryptopay didn’t have any significant increase in operational volumes and the financial results followed the external trend. On one hand, we are stable in terms of our customer base and transaction volumes, but on the other, our newly-launched products are still yet to gain substantial traction on the path to becoming solid revenue generators.
When looking at all of the revenue streams, all of them showed a quite similar decrease of around 20% which is a consequence of the weak USD/BTC exchange rate. Our B2B operations were unfortunately below the aforementioned dynamics. Users of the various online services that we provide merchant processing are less likely to make payments using cryptocurrencies when their value is weak. Mainly due to this fact, our past month’s conjecture of a substantial revenue increase from a number of new clients hasn’t come to fruition, yet.
We stay positive regarding the upcoming rally of all cryptocurrencies towards new price records, and with this happening, we’ll see a substantial increase in trading volumes, our corporate clients’ activity and, as a result, our revenue.
In July 2018 we’re going to undertake a product review to highlight the most perspective directions for development and invest in their progress with an increased effort. On the bright side, we are in the process of implementing ETH into our service and the Russian card programme is right around the corner, we just need to finish testing the first batch of cards. Expect them to be delivered in July 2018. We’ll be launching the pre-order page for our Russian cards imminently, so stay tuned for an announcement about this.
As for the European card programme, we’ve recently released an announcement regarding the status of this. Right now, we’re in the process of navigating all the red tape when it comes to making this programme a realisation. We feel that there is a growing understanding of every detail of our business amongst all our partners, card issuers, and card schemes. All in all, our current progress is good, but going slower than expected.