Beforepay delivers record Q3 profitability with continued progress of Carrington Labs

ASX-listed Beforepay Group Limited has released its Quarterly Activities and Appendix 4C for the quarter ended 31 March 2025 (Q3 FY25).

Beforepay Group CEO, Jamie Twiss (pictured) said, “We delivered yet another strong quarter and the best Q3 we’ve ever had. Strong top-line growth and excellent credit outcomes have continued our string of record results, driven by our capabilities in data, analytics, risk, and prudent financial management. I’m particularly pleased to see another Carrington Labs deal signed as we continue to build momentum in our new growth initiatives.”

Beforepay achieved a quarterly net profit before tax (NPBT) of $1.1 million, more than triple the Q3 FY24 figure. EBITDA was a record $2.7 million.

Quarterly advances were $200.6 million, up 16% on Q3 FY24 (year-on-year or YoY), supported by a 14% increase in the number of advances written to 516,000 driven by optimised marketing and a 2% increase in the average advance size to $388.

Carrington Labs announced a partnership with LendAPI, a US-based platform for fintechs and lenders, which will enable LendAPI clients to use the Carrington Labs product.

Beforepay maintained a strong balance sheet with an equity balance of $36.4 million and Total Cash of $28.9 million as at Q3 FY25 (up from $24.5 million in Q2 FY25). “Total Cash” comprises $16.4 million of cash-at-bank and $12.5 million of cash held in our funding and settlement accounts. The change in this position largely reflects timing of advances and repayments.