Beforepay Group (B4P) Q3 2025 earnings summary

Executive summary

• Achieved record Q3 profitability with net profit before tax of AUD 1.1 million, more than tripling last year's Q3 figure, and record EBITDA of AUD 2.7 million.

• Top-line growth was robust, with active users and revenue showing strong year-on-year and quarter-on-quarter results.

• Net defaults improved to 1.26% from 1.64% year-on-year, reflecting enhanced credit model management.

• Carrington Labs signed a partnership with LendAPI, expanding product reach in the US fintech market.

• Q4 FY25 trading to date aligns with expectations and seasonal trends.

Financial highlights

• Revenue for Q3 FY25 was AUD 10.1 million, up 17% year-on-year; net transaction margin rose 41% year-on-year to AUD 5.9 million.

• Total advances increased 16% year-on-year to AUD 226 million, driven by 516,000 loans.

• Average loan size rose 2% year-on-year to AUD 288.

• Active users grew 14% year-on-year to 265,437.

• Operating expenses increased to AUD 4.4 million, up 16% year-on-year, reflecting targeted investments in marketing and growth initiatives.

• Equity position at quarter end was AUD 36.4 million; total cash position at AUD 28.9 million.

Outlook and guidance

• Continued focus on value-driven user growth and marketing investment as long as customer acquisition remains profitable.

• Ongoing improvements to risk models and operational capabilities, with continued piloting of the Personal Loan product before scaling.

• Plans to expand funding capacity as new products, especially personal loans, scale.

• Optimism about future growth in both core and new business lines.

• Q4 FY25 trading is in line with expectations and seasonal patterns.