PushPay performance, page-16

Fair enough, everyone has their own requirements to justify and investment.

To clarify the profit issue, the company had previously bought forward it target of being cash flow positive to this time next year. Of all the things they say, I am a little skeptical on this one but, and its an important but, they have delivered on everything they have said. So, like any passive investment you need to trust the word of those steering the ship.

If you look in to the company there are many competitors in the market place already (ie; faith based giving apps). PPH seems to have the wood on them and are taking over their churches because it is simply a better end-to-end solution. That may change at some point in the future but with a churn rate of less than 5% you'd have to say their customer relationships are strong. Time will tell.

Happy investing.