Afterpay Touch has shed some of its recent gains after reporting it lost $22.2 million for the half-year ending December 31, compared to a $700,000 loss the prior corresponding period.
The buy now, pay later company said it was growing fast, with the values of sales processed through the Afterpay platform increasing 147 per cent, to $2.3 billion.
At the end of December its number of active customers and merchants had more than doubled over the half-year, to 3.1 million customers and 23,200 active merchants.
Its total income increased 85 per cent, to $112.3 million.
Afterpay shares, which gained 19.19 per cent on Monday, closed 11.46 per cent lower on Tuesday, at $18.15.
The company said it was on track to gain over one million customers and 2,000 active merchants in the US by the end of March, in less than 11 months operations.
In Australia and New Zealand, company had 2.6 million customers and is expanding into radiology after having success with dental and optometry merchants.
"Afterpay is responding to a generational shift in spending behaviour, with two out of three 18 to 30 year olds in the US not using a credit card," the company said.
"The power has shifted to the millennial consumer and we are building a long-term relationship with them today."
Afterpay is scheduled to launch in the United Kingdom later this half-year, with Urban Outfitters as its launch partner.
