QuickFee Reports A$36.45M Profit, Returns A$28.5M Capital, Declares Dividend

A Transformative Half-Year for QuickFee

QuickFee Limited has delivered a remarkable financial turnaround in the half-year ended 31 December 2025, reporting a net profit of A$36.45 million compared to a loss of A$1.23 million in the same period last year. This swing was primarily driven by the strategic sale of its US Pay Now business for US$26.35 million, which yielded a profit on sale of A$35.6 million.

The divestment marks a significant shift in QuickFee’s business model, allowing the company to streamline operations and focus on its core financing products. The sale included intellectual property, customer contracts, and software related to the ACH, Card, and Connect payment products in the US, with the majority of US staff transitioning to the acquiring company, Aiwyn, Inc.

Capital Return and Dividend Policy Signal Confidence

Following the sale, QuickFee returned approximately A$28.5 million to shareholders through an equal share capital reduction of 7.5 cents per fully paid share. This capital return reflects a disciplined approach to capital management, aiming to optimise shareholder value. Additionally, the company announced an interim dividend of 0.5 cents per share, partially franked, marking the first dividend payment in recent periods and signalling confidence in the underlying business’s cash flow and profitability.

Underlying Business Shows Resilience and Growth

Excluding the divested US Pay Now products, QuickFee’s underlying operations demonstrated a 4% revenue increase on a like-for-like basis. The company’s core financing products, including the Australian Finance and US Finance loan books, continue to expand steadily. The Australian loan book grew 4% to A$60.9 million, supported by growth in legal disbursement funding, which now represents 39% of the Australian loan book.

In the US, QuickFee retained its Finance loan book, valued at US$7.9 million as of 31 December 2025, and entered a reseller agreement with Aiwyn to embed QuickFee’s Finance offering into Aiwyn’s products. This partnership opens access to approximately 300 of the CPA firms ‘Top 500’, positioning QuickFee for accelerated growth in the US market.

Cost Discipline Drives Profitability

The sale of the US Pay Now business led to a 40% reduction in operating expenses, falling from A$7.3 million to A$4.4 million. This cost discipline, combined with steady revenue from the core business, resulted in a positive EBITDA of A$2.0 million before the profit on sale, a significant improvement from A$0.3 million in the prior corresponding period. Net bad debt write-offs remained minimal at 0.02% of total lending, underscoring the company’s effective credit risk management.

Regulatory and Strategic Adjustments

QuickFee has been granted an Australian Credit Licence for its Buy Now, Pay Later (BNPL) products, complying with recent regulatory changes. However, due to onerous compliance requirements and the immaterial profit contribution from BNPL, new originations have been discontinued, with the existing BNPL loan book expected to run off by December 2026. This strategic decision reflects QuickFee’s focus on its higher-margin financing products.

Leadership changes include the appointment of founder Bruce Coombes as CEO, who now oversees both Australian and US Finance operations, reinforcing management’s commitment to driving growth and operational excellence.

Strong Balance Sheet and Liquidity Position

QuickFee’s net assets increased to A$13.54 million as at 31 December 2025, up from A$5.53 million six months earlier. The company holds cash and cash equivalents of A$14.8 million and maintains borrowing facilities with Viola Credit and Fancourt Capital Group, providing significant liquidity and growth capacity. This financial strength supports QuickFee’s ongoing loan book expansion and strategic initiatives.