Beforepay Group (B4P) investor relations material

Executive summary

• Achieved net profit after tax of $6.7M in FY2025, a 74% increase year-over-year from $3.9M in FY24 and a turnaround from a $6.6M loss in FY23.

• Revenue grew 14% year-over-year to $40.2M, driven by increased advances and active users.

• Active users rose 12% to 269,558, with total advances up 14% to $807.4M.

• Carrington Labs experienced rapid growth, expanding its global client base, especially in the US, and forming new partnerships.

• Net defaults improved to 1.1% from 1.4% in FY24, reflecting enhanced risk management.

Financial highlights

• Net transaction margin increased 29% to $25.1M, with a margin percentage of 3.1%.

• Operating expenses rose 17% to $17.7M, reflecting investment in growth and technology.

• Direct service costs decreased to 0.19% of advances, down from 0.21% in FY24.

• Positive net operating cash flows of $4.9M, reversing a negative $4M in the prior year.

• Cash position at year-end was $14.0M, down from $19.2M, due to debt paydown and capitalised software costs.

Outlook and guidance

• Focused on optimizing and growing the pay advance and personal loan businesses, with continued investment in risk models and cost efficiency.

• Carrington Labs pipeline remains robust, with revenue expected to grow as new clients go live, especially in the US.

• Early FY2026 trading in line with expectations, reflecting typical seasonality.

• Ongoing disciplined cost management and broadening access to diversified funding sources.