- 01Revenue +45% to $16.5m; cash NPAT +58% to $5.7m.
- 02Advances +17% to $264.7m; bad debts rose to 1.41%.
- 03New $40m facility; $36.6m drawn.
Beforepay Group (ASX: B4P) has lifted first-quarter revenue 45% to a record $16.5 million as higher advances and the introduction of interest on its Pay Advance product boosted income.
Cash NPAT rose 58% from a year earlier to $5.7m for the three months ended 30 September 2026, while statutory NPAT climbed 40% year-on-year to $4.7m and total customer advances increased 17% to $264.7m.
Pay Advance volumes reached $257.7m, an increase of 15% from the previous corresponding quarter, while Personal Loans advances climbed from $1.9m to $7m—broadly steady against the June quarter.
The average advance across both products rose 17% to $524, reflecting a deliberate shift towards larger loans and greater revenue per transaction.
Funding to Support Lending Growth
At quarter-end, Beforepay held $13.6m in total cash, including $6.4m at bank and $7.2m in funding and settlement accounts, against an equity position of $54.1m.
Its new senior secured, asset-backed revolving credit facility began operating following an agreement in July, with $36.6m drawn at 30 September.
The three-year facility has an initial committed limit of $40m and a framework to expand to $100m by mutual agreement, covering both lending products and offering lower funding costs.
Despite positive reported earnings, net operating cash flow was negative $404,000 for the quarter, alongside $708,000 of net investing outflows.
Credit Performance in Focus
The group’s net bad debt ratio increased to 1.41% from 0.87% a year earlier and 0.90% in the June quarter, as the business managed risk-adjusted revenue alongside higher advance sizes.
Within Pay Advance, the ratio reached 1.40%, compared with 0.86% a year earlier, while the Personal Loans ratio fell to 1.59% from 6.10% in the previous quarter due to increased recoveries and a reversal of earlier provisions.
The company has changed its net bad debt calculation methodology, with comparative figures restated on the revised basis to allow consistent period-to-period assessment.
“These results demonstrate the strength of our business model and the benefits of our continued focus on credit quality and growth,” chief executive officer Jamie Twiss said.
“With steadily increasing revenue, an enhanced Personal Loans credit model, and expanded funding capacity, we are excited about the opportunities ahead.”
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