• Surpassed $10m in quarterly revenue and achieved $1.1m NPBT and $2.4m EBITDA
• Reached record 257,627 active users with customer acquisition cost of $40
• Launched new Personal Loan product in Q2FY25

Beforepay Group Limited (ASX: B4P) has released its Q2 FY25 Appendix 4C and quarterly activities report, delivering a strong financial and operational performance. The company surpassed $10m in quarterly revenue and achieved a net profit before tax (NPBT) of $1.1m and EBITDA of $2.4m. Trading was in line with expectations and seasonal patterns, with higher quarterly advances of $205.6m partially offset by higher net defaults of 1.75%. The company achieved record Active Users of 257,627, up from 251,325 in Q1 FY25, with a customer acquisition cost (CAC) of $40. Operating expenses decreased to $3.6m from $5.3m in the prior quarter, predominantly due to a $1.5m one-off non-cash adjustment in Q1 FY25. Beforepay maintained a strong balance sheet with $18.3m in cash on hand and $35.6m in equity as at Q2 FY25. The company also launched its new Personal Loan product in Q2 FY25, offering customers access to larger sums over a longer period than the Pay Advance product. Carrington Labs, the company's enterprise software division, completed a fully implemented solution for one of its US-based clients in Q2 FY25.

The company expects some increases in the cost base as it starts to accelerate its offering through Carrington Labs, including having a dedicated salesperson based in the United States.