Rent.com.au Posts $3.69M Loss, Raises $4.37M, Secures $10M Loan for RentBond®
Rent.com.au Limited reported a $3.69 million net loss for FY25 amid modest revenue growth, while securing significant funding to scale its RentBond® product and reshaping its leadership team.
- Net operating loss after tax of $3.69 million for FY25
- Revenue up slightly by 0.7%, driven by 53.1% RentPay growth
- Secured $10 million senior secured loan facility for RentBond®
- Completed two entitlement offers raising $4.37 million
- Leadership changes with Sam McDonagh as Executive Chairman and Jan Ferreira as CEO
Financial Performance and Revenue Growth
Rent.com.au Limited has released its financial results for the year ended 30 June 2025, reporting a net operating loss after tax of $3.69 million, slightly wider than the $3.44 million loss recorded in the prior year. Despite the ongoing losses, the company achieved a modest 0.7% increase in revenue to $3.27 million, with a notable acceleration in the second half of the year where revenue rose 11.4% compared to the same period last year.
This revenue growth was primarily driven by the RentPay platform, which saw a remarkable 53.1% increase in revenue, reflecting strong customer adoption and higher average revenue per user. RentPay’s contribution also helped recurrent revenue streams grow to 27% of total revenue, signaling a shift towards more stable income sources.
Strategic Funding and RentBond® Development
In a significant development, Rent.com.au secured a $10 million senior secured loan facility to internalise and scale its RentBond® product. This move is expected to enhance revenue and profitability from RentBond® by bringing funding in-house. The company has already drawn $1.6 million from this facility and commenced self-funded RentBond® loans in August 2025.
To support this funding strategy, Rent.com.au completed two fully underwritten entitlement offers during the year, raising approximately $4.37 million before costs. The proceeds were earmarked to fund a $1.5 million interest-bearing cash security deposit, unlocking access to the RentBond® loan facility and facilitating the product’s internalisation and growth.
Leadership Reshuffle and Corporate Governance
The company underwent notable leadership changes, with Sam McDonagh transitioning from Non-Executive Director to Executive Chairman in December 2024, bringing over two decades of senior management experience including roles at Airbnb and eBay. Jan Ferreira was appointed Chief Executive Officer from January 2025, succeeding Greg Bader who stepped down after eight years. These changes aim to steer Rent.com.au through its next growth phase.
The Board remains committed to corporate governance best practices, with a Nomination and Remuneration Committee overseeing executive remuneration and performance incentives. Share-based payments, including performance rights and options, continue to form a key part of executive compensation, aligning management incentives with shareholder value creation.
Operational Highlights and Market Position
Rent.com.au’s core platforms, including its search app and RentPay, maintain strong user engagement and customer satisfaction, with the Rent.com.au app rated highly among real estate sector apps. The company estimates its addressable market at over 2.5 million rental households in Australia, providing significant room for growth and commercialisation of its products.
Despite ongoing losses and cash outflows, the Group’s cash reserves increased to $615,623 at year-end, supported by capital raises and the new loan facility. The Directors express confidence in the Group’s ability to continue as a going concern, supported by its funding arrangements and operational progress.
Outlook and Investor Considerations
Looking ahead, Rent.com.au plans to optimise its Rent.com.au and RentPay platforms to drive further adoption and revenue growth. The company aims to extend positive EBITDA performance on its Rent.com.au platform while scaling RentPay to capture greater market share during tenancy periods. Achieving profitability remains a key objective, contingent on successful execution of growth strategies and market conditions.
Bottom Line?
Rent.com.au’s strategic funding and leadership overhaul set the stage for growth, but profitability hinges on scaling RentBond® and RentPay amid ongoing losses.
Questions in the middle?
- How quickly can Rent.com.au scale RentBond® to profitability with the new $10 million loan facility?
- What impact will the leadership changes have on operational execution and market expansion?
- How sustainable is the revenue growth from RentPay, and can it offset ongoing losses?