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US Dataworks Appoints John Penrod CEO and Chairman of the Board


Posted on May 20, 2014

US Dataworksis pleased to announce the appointment of John Penrod as our new CEO and Chairman of the Board.  John's proven experience in leading enterprise-class businesses is essential in continuing US Dataworks growth and sustained profitability.

Mr. Penrod commented, "US Dataworks has a strong management team that has consistently achieved high standards in creating innovative payment processing and treasury management solutions. We will continue to work as a team to develop the Clearingworks platform and NextGen Receivables™ Solution."

Mr. Penrod continued, "The company's focus has not changed. That focus is to simplify receivables processing for businesses of all sizes and modernize the treasury management industry with our NextGen Receivables solution. Our integrated approach to payment processing and simple cloud delivery allows US Dataworks to reach new markets and set the standard for modern receivables processing. The addition of new banks, BPO's, credit unions and the customers they serve is resulting in healthy recurring revenue growth."

The key metrics that we follow are growth in monthly transaction and recurring revenue, particularly in the cloud, average price per transaction and operating income. Our monthly recurring revenue for fiscal 2014 experienced double-digit growth over the prior fiscal year. Our average price per transaction for calendar year 2014 has more than doubled when compared to calendar 2013, as our customers benefit from the added value of NextGen Receivables, and our operating income is positive. As a non-reporting public company, we continue to perform annual independent audits for the twelve months ending March 31st. We are planning for our second annual audit as a non-reporting company this summer.