QuickFee reports A$4.2 million Q1 revenue as US TTV rises 15%

Revenue stability masks a split performance

QuickFee Limited (ASX:QFE) has kept its FY27 EBTDA guidance intact after a mixed opening quarter, with growth in US lending offset by softer Australian transaction volumes and higher funding costs. Revenue came in at A$4.2 million, unchanged from the normalised prior corresponding period after excluding the US Pay Now and Connect operations sold in September 2025.

On the reported comparison, revenue fell 29% from A$5.9 million because the prior-year quarter still included those divested products. Australia supplied the stronger revenue result, with Finance revenue rising 6% to A$3.2 million despite a 4% decline in transaction value to A$15.0 million. The US delivered higher lending volumes but lower revenue, a combination that leaves the quality of that growth open to examination.

US originations rise as QuickFee broadens its channel options

“US active finance firms”

US Finance TTV increased 15% to US$5.5 million, driven primarily by new originations from existing customers through QuickFee’s direct relationship management team. Revenue nevertheless declined 10% to US$0.5 million, while US Finance plans fell 7% to 451 and active finance firms dropped 13% to 150.

The exclusive element of QuickFee’s reseller agreement with Aiwyn, the buyer of its US Pay Now business, has now ceased after lower-than-expected transaction volumes. QuickFee said the change allows it to work with a broader reseller network and pursue integration of its Finance product into Aiwyn’s payments portal. That strategy builds on the planned US reseller integration, which earlier coverage identified as a FY27 growth priority.

Australian selectivity protects credit quality but limits TTV

“AU active firms”

Australian Fee Funding TTV fell 14% to A$11.4 million, partly offset by a 50% increase in Disbursement Funding TTV to A$3.6 million. The latter now represents about half of the A$55.4 million Australian loan book. Active Australian firms were broadly stable at 437, while Finance plans declined 6% to 1,814.

QuickFee said the Australian lending market softened amid multiple interest-rate rises, federal budget activity and more challenging conditions reported by SMEs in its internal customer surveys. It selectively declined higher-risk transaction volumes from some customers; default and arrears rates remained stable during the quarter. New BNPL loan originations have also stopped, with the existing book expected to be materially cleared by December 2026.

Funding costs pressure margin ahead of pricing changes

Rolling 12-month net interest margin declined to 14.4% from 15.3% at the end of FY26. QuickFee attributed the movement to multiple Australian interest-rate rises that increased its cost of funds and said pricing would be adjusted and passed on to customers in Q2 FY27.

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The company reported A$8.3 million in cash and immediately available further funds based on current loan receivables at 30 September. The US loan book rose 12% over the quarter to US$7.4 million, while the Australian book stood at A$55.4 million. The figures provide capacity for lending activity, but also make the conversion of volume growth into revenue and margin increasingly important.

AGM to provide the next capital management test

QuickFee maintained FY27 EBTDA guidance of A$4.5 million to A$5.0 million, citing potential US growth in the second half partly offset by softer Australian Fee Funding originations. It expects Australian Disbursement Funding TTV to remain strong and will provide a more detailed outlook and capital management update at its 17 November AGM.