• Customer receipts of US$3.8m (A$5.9m), up 50% on prior corresponding period
• Q3 FY25 revenue of US$3.9m (A$6.1m), up 30% on prior corresponding period
• FY25 YTD revenue (unaudited) of US$11.1m (A$17.3m), up 48% on prior corresponding period

Change Financial delivered a record revenue quarter in Q3 FY25, with customer receipts of US$3.8m (A$5.9m), up 50% on the prior corresponding period. Q3 FY25 revenue was US$3.9m (A$6.1m), up 30% on the prior corresponding period, driven by increasing PaaS revenue and continued delivery of one-off licence sales and professional services revenue. FY25 YTD revenue (unaudited) totalled US$11.1m (A$17.3m), up 48% on the prior corresponding period. Approximately 74% of FY25 YTD revenue was derived from recurring income streams, with the proportion of recurring income expected to continue increasing over time, particularly driven by growth in the company's PaaS offering. The company delivered Q3 FY25 Underlying EBITDA (unaudited) of US$0.4m (A$0.6m), with the wind down of US operations substantially complete, driving a material improvement in financial performance from H2 FY25. The company is confident of delivering revenue growth in excess of 30% and a maiden Underlying EBITDA positive result in FY25, focusing on building the sales pipeline, winning new deals, and driving operational efficiencies.

The company is confident of delivering revenue growth of more than 30% and a maiden Underlying EBITDA positive result in FY25.

The company is focused on building the sales pipeline, winning new deals, particularly in Oceania and SE Asia, and driving operational efficiencies to deliver top and bottom-line growth over the coming quarters. The company will continue to employ prudent capital management measures, and exiting the US operations is already increasing Change's operating leverage and will drive further EBITDA margin expansion and overall profitability in H2 FY25 and beyond.