• Profit growth, margin expansion and portfolio quality
• Diversification of portfolio continues with no single exposure greater than $10m
• Optimal funding structures in place to support growth

Earlypay Ltd reported strong FY25 financial results, with underlying NPAT growth of 24% to $5.1m and a 30% increase in underlying EPS to 1.9 cents per share. Total year-end Funds in Use (FIU) remained flat on the prior year at $249.4m, although there were material movements within the product segments. Invoice Finance FIU declined due to client attrition, while Trade Finance FIU was reduced as the company rebalanced its portfolio. In contrast, Equipment Finance FIU grew by 33% to $124.2m, supported by strong originations. The company's net revenue margin increased to 13.4%, up 39 basis points on the prior year, due to improved Invoice Finance margins offsetting the portfolio mix-shift to the lower-margin Equipment Finance segment. Earlypay maintained a disciplined cost base, with Underlying Cost to Income ratio of 76%. Credit performance improved, with Credit Loss Expense declining 53% to 0.75% of average FIU. The company has rebalanced its portfolio, reducing exposure to higher-risk segments and putting in place optimal funding structures, including a new Equipment Finance warehouse, to support future growth. Earlypay expects FY26 Underlying EPS to be 15-20% higher than FY25.

FY26 Underlying Earnings Per Share (EPS) is expected to be 15% - 20% higher than FY25 EPS.

Heightened focus on strong and sustainable growth in Invoice Finance & Equipment Finance Funds in Use (FIU). Invoice Finance: Attractive margins and strong credit performance provides flexibility to accelerate new originations. Equipment Finance: Continue to build on growth momentum.