Full Year 2024 QuickFee Ltd Earnings Call Transcript
Key Points
- QuickFee Ltd (ASX:QFE) achieved EBITDA positive status in Q4 FY24, indicating improved profitability.
- Operating expenses decreased by 12% in H2 FY24 compared to H1 FY24, reflecting diligent cost management.
- Revenue growth has been consistent, with a 37% increase to AUD20.3 million in FY24.
- The company signed 103 new customers and launched three new strategic partnerships in FY24.
- The Australian segment saw a 49% revenue increase, driven by record lending volumes and higher yields.
- Despite improvements, QuickFee Ltd (ASX:QFE) still reported a net loss of AUD4.7 million for FY24.
- Interest expenses increased significantly to AUD4.7 million due to higher borrowings and interest rates.
- Overall new firm sign-ups decreased, attributed to a focus on larger, higher-quality firms.
- The U.S. market faces challenges such as increasing inflation, talent shortages, and economic uncertainty.
- The Australian BNPL product, while growing, remains a small contributor and could be seen as a distraction from core products.
(audio in progress) It's AUD3.2 million in FY24, and we were EBITDA positive in Q4 FY24.
We have a stable cost base with operating expenses down 1% on PCP to AUD15.8 million. And NPAT improved AUD3.4 million from negative 8.1 to negative 4.7.
Along with being EBITDA positive in Q4, our overall EBITDA improved significantly in H2 FY24 to negative AUD0.5 million, continuing the trajectory of improved profitability.
Additionally, our operating expenses were AUD7.4 million in H2 FY24, down AUD1 million or 12% on H1 FY24, primarily due to a decrease in general and administrative and product development expenses. We were being diligent with our spend and that is making a noticeable impact. We've reported a very encouraging track record of revenue growth half-on-half for the last three years, as you can see here with EBITDA showing corresponding improvements, which gives us great confidence in our ability to deliver a positive FY 25 EBITDA as mentioned.
Now, there are many market dynamics that are shifting and
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