QuickFee Posts A$25.3M Revenue with Positive Underlying EBTDA in FY25

Strong Revenue Growth and Operational Improvements

QuickFee Limited has delivered a robust financial performance for the year ended 30 June 2025, reporting a 25% increase in total revenue to A$25.3 million. This growth was underpinned by a 36% surge in Australian revenue to A$12.4 million and a 15% rise in US revenue to A$12.9 million. The company’s focus on expanding its product suite and customer base in both markets has begun to translate into tangible financial results.

Despite recording a statutory net loss of A$4.3 million, QuickFee achieved a positive underlying earnings before interest, tax, depreciation, and amortisation (EBTDA) of A$2.4 million, excluding a one-off credit loss provision of A$3.4 million related to a US client default. This marks a significant turnaround from the prior year’s underlying EBTDA loss of A$3.2 million, reflecting improved operational efficiencies and cost management.

Loan Book Expansion and Strategic Refinancing

The company’s loan book grew by 6% to A$58.6 million, supported by increased transaction volumes and higher revenue yields, particularly in the Australian disbursement funding segment. QuickFee successfully refinanced its debt facilities, securing a new A$118 million asset-backed revolving credit facility with Viola Credit and a A$5 million term loan with Fancourt Capital Group. These moves have strengthened the balance sheet and enhanced liquidity, with available cash and borrowing capacity totaling approximately A$23.5 million at year-end.

In addition, QuickFee raised A$1.532 million through a combination of a placement and an oversubscribed share purchase plan, with participation from key directors. These funds are earmarked to support further loan book growth and ongoing investment in technology and product development.

Focus on Connect Platform and US Market Growth

QuickFee’s strategic emphasis on its Connect platform, which automates accounts receivable workflows for professional services firms, is gaining traction. The platform now boasts approximately 100 subscribed firms and has delivered over 127,000 invoices in FY25, a substantial increase from 19,000 in the previous year. Annualised recurring revenue from Connect subscriptions reached US$413,000, signaling a promising recurring revenue stream.

In the US, QuickFee reported a 14% increase in revenue (in USD) driven by growth in both finance and Pay Now products. The company also implemented cost-saving measures, including transitioning to an in-house ACH processing model, which reduced operating expenses and improved margins. Leadership changes in the US business were smoothly managed, with the Chief Operating Officer stepping into the President role, while a search for a permanent replacement continues.

Challenges and Outlook

The year was not without challenges, notably a one-off credit impairment provision of US$2.2 million due to a default by a US firm outside QuickFee’s core professional services verticals. Legal proceedings have been initiated to recover the amounts owed, but the outcome remains uncertain. Despite this, QuickFee’s underlying business performance and strategic initiatives position it well for future growth.

Looking ahead, the company plans to leverage five key growth levers in the US – QuickFee Finance, QuickFee Connect, differentiated technology, strategic alliances and partnerships, and automation. Combined with strong momentum in Australia, QuickFee aims to continue its trajectory toward profitability and market expansion.