Beforepay announce quarterly profit of $2.5 million achieved with record volumes, record margins and accelerating growth

ASX-listed Beforepay Group Limited have released their figures for the quarter ended 30 September 2024 (Q1 FY25).

Beforepay achieved record net profit before tax (NPBT) of $1.7 million and EBITDA of $3.0 million, while cash NPBT was $2.5 million. This was the company’s fifth consecutive quarterly unaudited net profit.

Beforepay also achieved record Active Users of 251,325, up 7% compared to Q1 FY24 (234,848).

Carrington Labs, Beforepay Group’s new business set up to provide AI-powered risk models and lending solutions, announced a partnership with Kiva, a US-based not-for-profit operating in 62 countries.

Beforepay’s underlying reported cash on hand also improved to $20.6 million as at Q1 FY25, compared with $19.2 million at Q4 FY24.

Beforepay Group CEO, Jamie Twiss said, “I’m extremely pleased to be delivering this strong result, showing faster growth, record margins, extremely strong credit performance, and our fifth consecutive quarter of profitability.”