• Profitability: Record Net Profit Before Tax of $3.4m, up 98% YoY
• Advances: Quarterly advances reached $226.4m, up 19% YoY
• Revenue: Revenue increased to $11.3m, up 20% YoY

Beforepay Group Limited (ASX: B4P) has released its Quarterly Activities and Appendix 4C for the quarter ended 30 September 2025 (Q1 FY26). The company achieved a record Net Profit Before Tax (NPBT) of $3.4m, representing a 98% increase on the Q1 FY25 figure of $1.7m, and a 137% improvement over the previous quarter. Quarterly advances reached $226.4m, up 19% on Q1 FY25, driven by a 15% increase in the average advance size to $446. Revenue increased to $11.3m, up 20% YoY, underpinned by higher advance volumes. Net defaults rose to 0.67%, up slightly from 0.46% in Q1 FY25 despite the significant increase in average advance size. Net transaction margin (NTM) increased to $8.4m in the quarter, up 19% YoY from $7.0m in Q1 FY25, driven by higher advance volumes and continued low defaults. Operating expenses decreased by 12% to $4.6m from $5.1m in the prior quarter, reflecting continued tight cost discipline and lower marketing spend. The company maintained a strong balance sheet with an equity balance of $43.1m and Total Cash of $19.2m as at Q1 FY26. The Group also announced two new partnerships with DigiFi and TaranDM to enhance Carrington Labs' capabilities.

Q2 FY26 trading to date has been in line with expectations and seasonal trends. The Group is increasingly focused on expected NTM and less on active user numbers, given the wide variation of expected customer lifetime value for new and existing customers.