QuickFee Limited's 2024 AGM Highlights Strong Financial Performance and Future Outlook
QUICKFEE LIMITED (QFE) Share Update November 2024 Tuesday 19th
QuickFee Limited Announces Strong Revenue Growth and Improved Profitability at 2024 AGM
QuickFee Limited (ASX: QFE) presented a robust financial performance for FY24 at its Annual General Meeting, showcasing significant revenue growth and improved profitability.
Instant Summary:
- Revenue increased by 37% to A$20.3 million.
- Net loss after tax improved to A$4.7 million from A$8.1 million in FY23.
- First positive EBTDA recorded in Q4 FY24.
- Loan book growth of 28% to A$55 million.
- FY25 EBTDA guidance set between A$1.5 - $2.5 million.
Financial Performance Overview
QuickFee Limited reported a 37% increase in total revenue to A$20.3 million, driven by increased transaction volumes and improved revenue yields. The company's core Finance product saw a 53% rise in revenue to A$11.9 million, while the loan book expanded by 28% to A$55 million as of June 30, 2024.
Operating expenses decreased by 1% to A$15.8 million, contributing to an improved net loss after tax of A$4.7 million, a significant improvement from the A$8.1 million loss recorded in FY23. Importantly, QuickFee achieved its first positive EBTDA result in Q4 FY24, marking a milestone in its financial journey.
Strategic Achievements and Future Outlook
In FY24, QuickFee successfully completed several operational milestones, including refining its sales strategy, forming new strategic partnerships, and enhancing internal processes with a focus on automation. The addition of Dave Moore as Chief Technology Officer further strengthened the US leadership team, driving product innovation and development efficiency.
Looking ahead, QuickFee is optimistic about transformational growth opportunities in the US market, supported by a scalable technology platform and strategic partnerships. The company has entered FY25 with increased lending capacity and strong Q1 results, with revenue up 33% year-on-year. The FY25 EBTDA is expected to range between A$1.5 - $2.5 million, with a stronger second half anticipated.
The strong financial performance and strategic advancements position QuickFee favorably for future growth. The positive EBTDA and improved net loss figures are likely to boost investor confidence, potentially leading to a positive impact on the company's stock price. The company's focus on expanding its US operations and leveraging strategic partnerships could further enhance its market position.
Investor Reaction:
Analysts are likely to view QuickFee's financial performance positively, given the significant revenue growth and improved profitability. The strategic focus on the US market and technology integration is expected to be well-received, with investors anticipating continued growth and value creation.
Conclusion:
Investors should consider QuickFee's strong financial performance and strategic initiatives as indicators of its potential for future growth. The company's efforts to expand its market presence and enhance operational efficiency could lead to increased shareholder value. Staying informed on QuickFee's progress and strategic developments will be crucial for investors looking to capitalize on its growth trajectory.