QuickFee Sees Mixed Growth, Refinancing Complete

QuickFee Limited (ASX: QFE) has released a business update for Q4 FY25 to-date (April-May 2025), revealing mixed performance across its key markets. US Pay Now TTV grew by 9% year-on-year to US$352 million, while US Finance TTV declined by 28% due to the termination of a firm with credit impairment issues and broader economic uncertainties. Australian Finance TTV saw a 5% increase to A$10.0 million. The Connect platform demonstrated strong growth, delivering a record 47,000 invoices, up from 37,000 in the entire previous quarter, driven by new firm onboarding and seasonal tax invoicing. QuickFee has successfully completed a A$118 million refinancing with Viola Credit, replacing existing facilities and securing additional liquidity. A A$5 million term loan was also secured with Fancourt Capital Group to fund loan book growth. A A$1.25 million share placement and A$0.25 million share purchase plan were completed, bolstering the company’s financial position. Despite a US$2.2 million provision for credit impairments, QuickFee maintains a positive underlying EBTDA for April and May 2025, reaffirming its FY25 underlying EBTDA guidance of A$1.5 million to A$2.5 million. Statutory EBTDA guidance remains at -A$0.8 million to -A$1.8 million. The company is engaged in preliminary discussions regarding potential acquisition of its US business following unsolicited third-party approaches. The search for a new US President is ongoing following Jennifer Warawa’s resignation, with James Drummond serving as Acting US President. QuickFee is pursuing legal action against a US firm and its clients to recover unpaid loan installments.