Cornerstone Keeps the Momentum Rolling—2023 Outlook Looks Bright
Cornerstone FS plc, the foreign‑exchange and payments power‑house that lets merchants and individuals juggle multi‑currency accounts via its slick tech platform, just dropped an unaudited trading recap that’s got everyone buzzing.
What’s Happening?
- Strong trading vibes continued through the last quarter.
- Year‑on‑year growth in active customers and higher average transaction values stayed on track.
- Revenues and adjusted EBITDA for 2023 now look set to outshine market expectations.
CEO James Hickman’s take: “We’re still on a winning streak. Every move we made—reinforcing our sales squad, widening the currency range, and expanding into new countries—has paid off. Thanks to our scalable platform and smart cost controls, we’re cruising with operating leverage that’s boosting adj. EBITDA at an even faster pace. The board is genuinely excited about the future.”
Why It Matters
When you’re in the world of FX and payments, keeping the cash flow steady while scaling up is no small feat. Cornerstone’s strategy of pulling in more customers and upsizing the transaction basket has turned a simple business model into a real money‑making engine.
Stocks Knock it Out of the Park
The share price popped 17.4% this morning, trading at 13.5p. That’s a company that’s not just trading—it’s thriving.
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