QuickFee Faces Legal Risks Amid US Credit Loss but Eyes Strong FY26 Growth

Strong Financial Performance Marks FY25

QuickFee Limited has delivered a standout financial year ending June 2025, reporting a 25% increase in total revenue to A$25.3 million. This growth was driven by a robust 36% revenue increase in its Australian operations and a solid 15% uplift in the US business. The company achieved a significant milestone with positive underlying earnings before interest, taxes, depreciation, and amortisation (EBTDA) of A$2.4 million, signaling a crucial inflection point in its path to profitability.

Operating expenses were trimmed by 12%, contributing to a narrowing net loss to A$900,000 from A$4.7 million the previous year. However, QuickFee faced a one-off credit impairment provision of US$2.2 million due to a US client default, with legal actions underway to recover the amounts owed.

Strategic Sale of US Pay Now Business

In a major strategic move, QuickFee sold its US Pay Now business to Aiwyn, a US payments technology firm backed by KKR and Bessemer Ventures, for A$40 million. This divestment, completed in September 2025, included the transition of most US Pay Now staff to Aiwyn and an acquisition multiple of five times FY25 revenue. Importantly, QuickFee retained its high-margin US Finance business, which offers invoice financing solutions, and entered a reseller agreement with Aiwyn to embed its Finance product into Aiwyn’s payment platform, opening access to approximately 300 CPA firms.

Capital Management and Shareholder Returns

Reflecting confidence in its financial position, QuickFee’s board proposed a capital return of 7.5 cents per share, amounting to approximately A$28.4 million, subject to shareholder approval. This return is funded primarily from the proceeds of the US Pay Now sale and is designed to provide immediate value to shareholders without altering their proportional ownership.

The company’s balance sheet remains strong, with net cash and loan book equity exceeding its current market capitalisation, underscoring underlying value not yet fully recognised by the market.

Outlook and Growth Prospects

Looking ahead, QuickFee is focused on expanding its Finance offerings in both Australia and the US. The FY26 earnings guidance anticipates underlying EBTDA between A$3.75 million and A$4.25 million, supported by streamlined operations, minimal capital expenditure, and the new reseller channel in the US. The company also remains open to potential mergers and acquisitions that align with shareholder interests.

Founder Bruce Coombes has stepped into the CEO role, overseeing Australian operations and the US Finance team, signaling a hands-on approach to driving growth and operational excellence.