QuickFee Limited reports a record A$7.2 million quarterly revenue, driven by strong US and Australian growth, alongside positive underlying profitability and a major refinancing.
- Q4 FY25 revenue up 18% year-on-year to A$7.2 million
- Positive underlying EBTDA for FY25 excluding one-off credit loss
- Connect platform subscription ARR hits US$413,000 with 60 active clients
- Completed A$118 million asset-backed receivables refinancing
- Raised A$1.532 million via placement and share purchase plan
Strong Revenue Momentum
QuickFee Limited (ASX, QFE) has delivered a robust finish to FY25 with record quarterly revenue of A$7.2 million, marking an 18% increase compared to the same period last year. This growth was fuelled by a 20% rise in US Pay Now revenue and a 26% jump in Australian Finance revenue, underscoring the company’s expanding footprint in both key markets.
The company’s rolling 12-month group revenue now stands at A$25.2 million, up 24% year-on-year, reflecting consistent upward momentum. Seasonality remains a factor, with Q2 and Q4 historically stronger quarters, but QuickFee’s trajectory suggests sustainable growth beyond cyclical peaks.
Subscription Revenue and Connect Platform Expansion
A standout development has been the rapid scaling of QuickFee’s Connect platform, a cloud-based accounts receivable solution tailored for accounting firms. The platform’s invoice delivery volume surged 65% quarter-on-quarter to 61,000 invoices, a staggering 408% increase year-on-year. This growth translated into an Annualised Recurring Revenue (ARR) of US$413,000 from Connect subscriptions, with 60 active clients onboarded and a pipeline of 30 more in various onboarding stages.
The Connect platform not only generates new subscription revenue but also drives higher transaction volumes across QuickFee’s financing and payment products by automating invoicing and encouraging electronic payments. Management highlighted the platform’s scalability and value proposition as key to future growth.
Financial Health and Capital Strategy
QuickFee successfully completed a significant refinancing in June 2025, securing an A$118 million asset-backed receivables facility alongside a A$5 million term loan. This new facility replaces previous debt arrangements and substantially increases borrowing capacity to support loan book expansion.
Complementing this, QuickFee raised A$1.532 million through a combination of a placement and an oversubscribed Share Purchase Plan at 5 cents per share. These capital injections bolster liquidity and underpin the company’s growth initiatives in both the US and Australian markets.
Underlying Profitability and Credit Provision Impact
Excluding a one-off credit loss provision of A$3.3 million related to a US firm default, QuickFee reported positive underlying Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for FY25. Statutory EBITDA guidance remains between -A$0.8 million and -A$1.8 million, reflecting the impact of this non-recurring charge.
Management expressed disappointment over the credit impairment but remains confident in the company’s fundamentals and growth strategy. The US Finance product, while stable in revenue, saw a 24% decline in total transaction value due to the cessation of new loan originations from the defaulting firm.
Outlook and Strategic Positioning
Looking ahead, QuickFee enters FY26 with strong revenue momentum, a growing subscription base, and a strengthened balance sheet. The company is actively expanding its Connect platform client base and loan book, aiming for profitable growth across its payments and financing businesses.
Notably, QuickFee is in preliminary confidential discussions regarding potential acquisition interest in its US business, though no definitive outcomes are assured. Additionally, the company is navigating regulatory requirements for its Australian Buy Now Pay Later product, with ASIC approval pending but transitional arrangements in place.
Bottom Line?
QuickFee’s FY25 results set a solid foundation for growth, but investors will watch closely how the company manages credit risks and regulatory hurdles in FY26.
Questions in the middle?
- How will QuickFee mitigate credit risk following the US firm default impacting loan originations?
- What is the timeline and likelihood of ASIC approval for QuickFee’s Australian BNPL licence?
- Could the potential sale of the US business reshape QuickFee’s strategic focus and valuation?