PensionBee
Ticker: PBEE Exchange: LSE www.pensionbee.com/

PensionBee is a leading online pension provider, enabling customers to interact with their savings through its unique combination of smart technology and dedicated customer service.

Marketing investment bearing fruit, growth on track

PBEE CTA Apr 22

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In Q1 of FY22, PensionBee has reported an 18% quarterly increase in invested customers from 117k on 31 Dec 21 to 138k on 31 Mar 22, a y-o-y growth rate of 70% (31 Mar 21: 81k), and is on track to meet our forecast of 200k+ by the end of FY22 (f’cast annual growth 73%). Importantly, ‘registered customers’ (a ‘top of sales funnel’ metric) jumped by 141k from 658k on 31 Dec 21 to 799k, an increase far in excess of the previous quarter (+56k Oct-Dec 21).

PensionBee has reiterated its confidence in achieving its previous revenue guidance of £20m+ for FY22, as well as its medium-term guidance. It appears on-track to meet our previous forecasts and we maintain our fundamental value of 230p per share, over 60% above the current share price.

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