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London - Monitise, a mobile banking technology company, said full-year group Ebitda loss widened 63% due to investment in product and sales particularly in the second half of the year.
Shares in the company fell as much as £7 in early trade on Monday.
The company, which provides payment solutions to 350 financial institutions, said loss before interest, taxes, depreciation, and amortization widened to £31.4m ($51m) for the year ended June 30. Revenue rose 31% to £95.1m.
Monitise had in July lowered its revenue growth estimate to a range of 31-33% from 50 percent, citing a shift in its revenue model.
The company reiterated its outlook for revenue growth of at least 25% in 2015 and that it would be Ebitda profitable in 2016. Monitise derives about 50% of its revenue from the UK and 40 percent from the United States.
"A lot of our systems integration resources are moving to IBM ... At the same time that we are increasing our subscription revenue and reaching more consumers through our clients, we will also have a cost base that is more scaleable," co-chief executive Elizabeth Buse told Reuters.
Monitise said it expanded its partnership with International Business Machines Corp into a multi-year global alliance to deliver cloud-based mobile money solutions.
"We expect these actions to drive a rebound in operating metrics and financial performance, but not until H2 FY15." Canaccord Genuity analysts said in a note to clients.
The company also said it signed a strategic partnership with Santander to develop and deploy a series of mobile banking solutions.
Monitise's registered customers in the year were 30 million, compared with 23 million a year earlier. Live transactions rose 67% to 4 billion.
Founded in 2003, Monitise processes payments to the value of $88bn annually. Its customers include Royal Bank of Scotland Group and Visa Inc.
Monitise, which also operates in Turkey, India, Hong Kong and Indonesia, said revenue from Britain rose 54% to £57.7m, while the Americas saw a 9.3% fall.
Shares in the AIM-listed company were down 4.2% at 44.5275 pence at 08:50 GMT.
