How Rent.com.au’s $2M RentBond® Boost is Reshaping Its Revenue Model

A Pivotal Quarter for Rent.com.au

Rent.com.au Limited (ASX – RNT), Australia's leading renter-focused platform, has delivered a significant financial and operational milestone in the September 2025 quarter. The company reported a 27% increase in total revenue compared to the prior corresponding period, a growth largely attributed to the strategic shift of funding RentBond® loans internally rather than relying on third-party providers.

This transition, initiated mid-quarter, has already seen over $2 million in RentBond® loans funded through a facility with the Eldium Income Fund. By bringing loan funding in-house, Rent.com.au aims to enhance the customer experience with a seamless application process and improve shareholder returns through more sustainable, recurring revenue streams.

Recurring Revenue Takes Centre Stage

One of the standout achievements this quarter is the doubling of recurring revenue, which now constitutes 47% of the Group's total revenue, up from 29% a year ago. This shift reflects the growing traction of RentBond® alongside other products such as RentPay, Connectnow, and the Cotality data subscription service. The recurring revenue model is expected to provide Rent.com.au with greater financial resilience and a more predictable income base, moving away from the traditional listings portal model.

CEO Jan Ferreira highlighted the momentum shift, noting that RentBond® loans are now being funded at a rate exceeding $1 million per month, with cash receipts from customers surpassing $200,000 monthly and compounding rapidly. This progress is steering the company closer to positive cash flow and long-term sustainable profitability.

Financial Position and Operational Efficiency

Rent.com.au remains well capitalised, ending the quarter with $3.3 million in cash, including $1.5 million held as security with Eldium, and an $8.4 million undrawn debt facility. The company also reported a 17% reduction in RentPay's EBITDA loss compared to the same quarter last year, signaling improving operational efficiency in its digital rent payment app segment.

Investments continue in software development, particularly to complete the credit decisioning platform essential for RentBond® loan funding. While these costs impact short-term cash flow, they underpin the company’s strategy to scale its integrated platform and enhance product attachment rates.

Looking Ahead

With the RentBond® funding model now recognising revenue over the life of the loan rather than upfront, Rent.com.au expects to earn approximately six times more revenue per loan compared to the previous model. Early results support this expectation, with $377,000 of future revenue already secured from loans funded to date.

The company’s focus on improving customer engagement and expanding its suite of renter-focused financial products positions it well for sustained growth. However, the long-term success of this strategy will depend on continued loan uptake and the ability to convert users into recurring revenue streams.