Fintech Beforepay posts first quarterly profit of $1.64m

ASX-listed Beforepay has achieved a net profit before tax of $1.64 million and an EBITDA of $2.61 million. This is the company’s first quarterly net profit.

Beforepay also recorded advances of $177.3 million, up 27% on Q1 FY23 (year-on-year or YoY) and up 9% on Q4 FY23

Beforepay CEO Jamie Twiss said, “I’m proud to be announcing Beforepay’s first quarterly profit today. This result shows that Beforepay has successfully executed its strategy, delivering strong top-line growth and good unit economics while tightly controlling costs, and demonstrates the resilience and sustainability of our business. While we expect that future quarterly results may be up or down, given the seasonality in our business, we are confident that Beforepay is well positioned for the future.”