Quickfee announce FY24 group revenue up 37% to more than $20 million

ASX-listed QuickFee Limited have today announced its financial results for the financial year ended 30 June 2024 (FY24).

Highlights include total group revenue up 37% on pcp to $20.3 million, driven by increased transaction volumes and continued yield expansion.

Australian revenue is up 49% on pcp to A$9.1 million, with AU Finance Total Transaction Volume (TTV) growth of 20% to $55.5 million and Finance revenue yield of 14.2%.

USA revenue is up 29% on pcp to A$11.2 million, due to a 28% increase in US Finance TTV to $26.7 million, a 16% increase in US Pay Now TTV and an increase in Finance revenue yield to 9.9%

As at 30 June 2024, the cash and cash equivalents were $13.5 million, up from $3.4 million at 30 June 2023.

Commenting on the financial year results, QuickFee Chairman Dale Smorgon, said, “In the past year, we delivered strong revenue growth on a stable cost base, with improved profitability and a strengthened balance sheet. In addition, we completed a series of important operational milestones, which will underpin future revenue growth and the scalability of our model. The market opportunity in the US remains significant and we remain optimistic about the potential for transformational growth in the US over the years ahead.

“We enter FY25 with positive momentum across all metrics in the business and we are focused on the delivery of a profitable FY25 and continued growth in shareholder value.”