Half Year 2025 QuickFee Ltd Earnings Call Transcript
Key Points
- QuickFee Ltd (ASX:QFE) achieved its first-ever EBITA positive half-year, marking a significant milestone towards sustainable profitability.
- Total group revenue increased by 26% to $AUD11.7 million, with strong growth in both Australia (49%) and the US (8%).
- Gross profit rose by 33% to $7.6 million, driven by higher revenue yields and disciplined cost management.
- Operating expenses were reduced by 13%, reflecting effective cost-saving initiatives and improved operational efficiency.
- The Australian segment showed exceptional performance with a 49% revenue growth and a 57% increase in gross profit, maintaining profitability with an EBITA of $2.1 million.
- Net profit after tax was negative $1.2 million, despite improvements from the previous year, indicating ongoing challenges in achieving net profitability.
- US revenue growth was only 8%, which was below expectations and attributed to factors like the election impact on the economy.
- US finance revenue declined slightly by 50 basis points due to late Q2 originations, highlighting challenges in maintaining consistent growth.
- New firm signups decreased by 32%, reflecting a strategic shift towards acquiring fewer but larger firms, which may impact overall growth momentum.
- The sales cycle remains unpredictable, with external factors like elections causing delays in decision-making processes.
Welcome to the Quick Feed first half FY25 Financial results webinar. On our call today, we have Jennifer Warawa, President of North America, and Simon Liendall, CFO to run through the presentation. My name is Katie McKenzie, investor relations at Quick Feed. At the end of the presentation, probably go for about 20 minutes. We'll open up the Q&A. So if you've got any questions, please type them into the Q&A tab. And, now I'd like to hand over to Jennifer.
Great. Thank you, Katie, and good morning everyone. Welcome and good evening to everyone joining from the US. We're really glad that you could join us today as we share an overview of the financial results and key highlights for the first half of our FY25 fiscal year. As a reminder for any of you who may be new to our story, we have a really simple business focus. We help professional services firms automate and accelerate accounts receivable while at the same time supporting them as they grow their firms. If
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