Rent.com.au Builds Momentum as Recurring Revenue Reaches New High

Record Revenue Shifts Toward Recurring Income

Rent.com.au Limited (ASX:RNT) has lifted quarterly revenue to a record $1.53 million, up 78% from the September 2025 quarter and 13% from the June quarter. The more consequential number sits underneath: recurring revenue reached $1.2 million, representing 78% of group revenue and rising 187% year on year.

The result extends a run of quarterly records for the renter-focused technology group, following the June quarterly revenue record in which recurring revenue first moved above $1 million. Rent.com.au said customer receipts reached $3.4 million during the September quarter, while operating cashflow remained positive for a third successive quarter. The activity report records operating cashflow of $707,000; the accompanying Appendix 4C reports $727,000.

RentPay Adds Bills and Shared-Household Payments

RentPay is becoming a broader payments product rather than simply a rent-transfer service. During the quarter, customers gained access to billers across electricity, gas, internet and insurance, with the option to request additional billers. Share-house residents can also request rent or other bill payments from flatmates, an early step towards features aimed at shared households.

Rent.com.au says the 1 October ban on credit and debit card surcharging may create an opportunity for its platform, after several payment services, including Macquarie Bank’s DEFT, stopped accepting card payments. The company says its accreditation as a Consumer Bill Payments Service means its customer platform fee falls outside the ban. The filing presents this as an opportunity, but does not quantify any expected increase in volumes or revenue.

Savings Product Opens a New Revenue Channel

The next addition is a savings account developed with Earnr Holdings. Planned for launch at the start of November, Earnr’s Everyday Account is intended to let customers add or withdraw funds daily while earning up to 6.15% per annum. Rent.com.au says the product should provide an additional margin source, although both its launch and financial contribution remain prospective.

The group also flagged a possible 30-day investment account linked to RentBond loans, designed for larger renter expenses such as vehicles, holidays or house deposits. The strategy is to place payments, lending and savings inside one renter-focused platform, with January-to-March visitor numbers typically about 25% above normal providing a seasonal opportunity to expose more users to that combined experience.

Tighter Lending Criteria Temper RentBond Growth

There is a less buoyant detail in the quarter. Rent.com.au tightened its RentBond lending criteria and adjusted its assessment process as cost-of-living pressure and weaker consumer confidence persisted across Australia. New lending consequently ran at a lower rate during the quarter, although the company said repeat borrowing after customers repaid an initial loan partly offset the impact and that the changes are expected to support profitability.

The group used $1.844 million to generate new customer loans and drew only $500,000 under its Eldium facility, funding the balance from cash. It also acquired Novatti’s remaining 2.5% interest in RentPay for $100,000, returning the platform to wholly owned status. Rent.com.au ended September with $5.35 million in cash and $5.75 million of undrawn debt, following the earlier $15 million debt facility expansion.

EBITDA Target Depends on Conversion

Management has implemented cost-saving measures and is targeting near-term EBITDA positivity, but the filing does not provide an EBITDA result for the quarter. The company’s next operating test is therefore not simply whether revenue continues to rise, but whether the expanding recurring base can translate into improved profitability while product development, lending and funding costs continue.