QuickFee Q2 FY25 Business Update
| Stock | Quickfee Ltd (QFE.ASX) |
|---|---|
| Release Time | 20 Jan 2025, 8:25 a.m. |
| Price Sensitive | Yes |
QuickFee Q2 FY25 Business Update
- Record quarterly revenue of A$ 6.2m, up 22% on the prior corresponding period
- Increasing adoption of Connect with 95 firms signed up, up 38% quarter-on-quarter
- Gaining traction in secondary verticals including legal, government contracting, executive search and other professional service businesses
QuickFee Limited (ASX: QFE) today announced a business update for the quarter ended 31 December 2024 (Q2 FY25). The company reported record quarterly revenue of A$6.2 million, up 22% on the prior corresponding period, reflecting continued strong growth in the core Finance product in both Australia and the US. QuickFee also saw increasing adoption of its Connect platform, with total firm invoices delivered via Connect up 42% quarter-on-quarter and 95 firms signed up for Connect at 31 December 2024, up 38% quarter-on-quarter. The company launched a new Connect integration with PracticeERP in December 2024 and is seeing positive momentum in QuickFee Finance loan volume in secondary verticals including legal, government contracting, executive search and other professional service businesses. The company is on track for profitability, reporting EBTDA positive in Q2 FY25 and maintaining its FY25 EBTDA guidance in the range of A$1.5 - A$2.5 million, with a stronger second half. The US business continued to grow, with US Finance (Pay Over Time) revenue up 17% and US Finance TTV up 30% year-on-year. The Australian business also performed well, with AU Finance revenue up 42% and AU Finance TTV up 12% year-on-year.
QuickFee is on track to deliver FY25 EBTDA in the range of A$1.5 - A$2.5 million, with a stronger second half.
QuickFee's growth trajectory remains on track, with quarterly revenue up 22% year-on-year and half-year revenue up 26% year-on-year. The company's investment in the Connect product and integrations is starting to deliver results, with 95 firms now signed up for the platform and a strong onboarding pipeline. Demand for QuickFee's solutions remains strong, and the company is encouraged by the opportunity to further diversify its US revenue across secondary target verticals in 2025.