• Upgraded FY25 guidance to cash EBTDA of at least $153.0m
• Delivered record quarterly cash EBTDA of $46.0m, up 219.4% vs 3Q24
• Strong growth in US with TTV and revenue up 40.2% and 44.1% YoY respectively

Zip Co Limited (ASX: ZIP) today announced its third quarter update for the three-month period ended 31 March 2025 ('3Q25'). Following continued strong performance year to date, Zip upgraded its guidance for FY25 and now expects to deliver cash EBTDA of at least $153.0m, compared to prior guidance of at least $147.0m. Key highlights for 3Q25 included: cash EBTDA of $46.0m (up 219.4% vs 3Q24), TTV of $3.3b (up 35.7% vs 3Q24), total income of $278.9m (up 26.5% vs 3Q24), and transactions of 22.8m (up 27.3% vs 3Q24). The US business continued to deliver significant growth, with TTV and revenue increasing 40.2% and 44.1% year on year respectively, driven by deeper customer engagement. Momentum in the ANZ business also continued, with TTV increasing 12.6% year on year. Zip delivered strong credit performance across both markets, with net bad debts reducing to 1.6% of TTV. Looking ahead, Zip remains focused on executing its strategic priorities and has reconfirmed its two-year targets provided at the start of FY25.

For FY25, Zip has upgraded its guidance for cash EBTDA to at least $153.0 million, including cash opex growth of circa 10%, subject to market conditions.

Zip is on track for its FY25 results to be within its two-year target ranges as previously announced to the market in February 2025.