Slide 1: H1 FY21 Results
H1 FY21 Results CEO, Bruce Coombes CFO, Simon Yeandle 18 February 2021
Slide 2: QuickFee is all things payments and all things receivables
• QuickFee is all things payments and all things receivables for services firms. • QuickFee helps customers access the advice and services they need, with the ability to pay over time. • We do this in 2 ways: 1. For enterprise professional services firms, QuickFee’s unique products make the payment
Slide 3: H1 FY21 highlights
H1 FY21 highlights Continued growth despite challenging environments; investment for future growth US$285m A$4.5m QuickFee Key Record growth in US transaction volumes Strong revenue growth Instalments appointments Launch of major product Investing in future processed 22% 277 firms signed g
Slide 4: H1 FY21 financial overview
H1 FY21 financial overview Strong growth across key US market. Impacted by government stimulus US lending US loan book Revenue +1.5% +22% +41% US$6.6m US$6.7m A$4.5m US$7.9m A$3.7m US$5.6m H1 FY20 H1 FY21 H2 FY20 H1 FY21 H1 FY20 H2 FY21 AU lending AU loan book US transactions -32% +182% -45% A$27.5m
Slide 5: Another period of strong progress
Another period of strong progress Leveraging first mover advantage in the US • H1 FY21 revenue up 22% to A$4.5 million – another record result • Significant increases in US transaction values, with COVID-19 accelerating the shift to online payments – 182% growth in US pay in full total transaction v
Slide 6: Financial highlights
Financial highlights 18 February 2021
Slide 7: Group profit & loss
Group profit & loss H1 H1 A$M FY21 FY20 $+/- %+/- Results reflect continued investment in future growth Net interest income 2.0 1.9 0.1 5% • Revenue up 22% to A$4.5 million driven by growth in lending Revenue from contracts with customers 1.9 1.0 0.9 90% and transaction volumes Net income 3.9 2.9 1.
Slide 8: Balance sheet
Balance sheet A$M Dec 2020 June 2020 $+/- %+/- Well funded to capitalise on growth opportunities Cash and cash equivalents 30.5 15.0 15.5 103% • Successful completion of A$17.5 million share placement and Loan receivables 26.5 36.3 (9.8) (27)% purchase plan strengthened cash position Trade and other
Slide 9: Operational overview
Operational overview 18 February 2021
Slide 10: QuickFee US
QuickFee US Continued growth in lending; structural market shifts driving record growth in platform transactions • US ‘pay in full’ total transaction values up 182% to US$285 million; annualised run US lending rate of over US$0.7 billion +63% +1.5% – Driven by continued growth in client numbers and
Slide 11: QuickFee US
QuickFee US A$M 000s H1 FY21 H1 FY20 $+/- %+/- Momentum continued Interest income 806 511 295 58% • US continues to show strong growth with lending up 41% Interest expense (269) (226) (43) (19)% YTD vs H1 FY20 Net interest income 537 285 252 88% – Net interest income up 88% Revenue from contracts wi
Slide 12: US transactional revenue increased sharply
Portal transaction growth in existing portfolio US transactional revenue increased sharply 120.0 Annualised revenue run rate now US$0.7 billion • Payment portal transaction volumes up 182% to US$285m in H1 FY21 100.0 • US merchant/platform fee revenue of US$1.4m for H1 FY21, up 121% • Huge potential
Slide 13: US structural tailwinds to drive long term growth
US structural tailwinds to drive long term growth Shift to online payments in a modernising US market • Significant opportunity to grow both lending revenue and transactional revenue with the ‘modernising’ of the US market and QuickFee’s first mover advantage • Growing numbers of new firm sign ups a
Slide 14: QuickFee Australia
QuickFee Australia Lending impacted by government stimulus measures AU lending • Lending in Australia was impacted by government stimulus measures, down 45% to -45% A$13.3 million • However, November and December showed early stages of improvement in A$24.2m A$13.3m Australia with early stages of un
Slide 15: QuickFee Australia
QuickFee Australia AUD 000s H1 FY21 H1 FY20 $+/- %+/- Lower lending but earnings still up Interest income 1,824 2,240 (416) (19)% • Lending down 45% Interest expense (319) (600) 281 47% – Interest expense decreased leading to net interest income Net interest income 1,505 1,640 (135) (8)% down only 8
Slide 16: QuickFee Instalments product launched in December
QuickFee Instalments product launched in December Complements existing offerings Technology QuickFee Funding QuickFee Instalments • Pre-authorisation technology • Full payment to firm at • No recourse contract inception How it works: • Client credit card 1. Client accesses professional • Credit card
Slide 17: Increasing the market opportunity
Increasing the market opportunity QuickFee Instalments will drive lending growth by opening up new market segments US firm revenue* CPA firms* Law firms* • In the US market, QuickFee Finance currently services firms with >US$1m in annual revenue Firms < $100k 169,875 183,558 – ‘Interest Free’ produc
Slide 18: Why are we doing this?
Why are we doing this? Helping customers access advice they need; capturing greater market share Legal services in California as an example • 55% of Californians experience at least one civil legal problem in their household each year, and 13% of Significantly increases Californians experience six o
Slide 19: Significant investment to position QuickFee for strong future growth
Significant investment to position QuickFee for strong future growth Rapid and deep investment in technology, products, and people • Continued investment in building out our in-house product development and technology • Invested in several significant appointments, adding strong capability and exper
Slide 20: Outlook
Outlook 18 February 2021
Slide 21: Outlook: capitalising on massive US opportunity
Outlook: capitalising on massive US opportunity Becoming a market leader in online payments for the services industry • 2021 has started positively: – 1 January – 14 February US TTV volumes up 2.4 times prior year – 277 QuickFee Instalments merchants signed up to 14 February • We have a clear roadma
Slide 22: Outlook: capitalising on massive US opportunity
Outlook: capitalising on massive US opportunity Becoming a market leader in online payments for the services industry We are developing payments and receivables solutions for the services industry, helping customers access the advice and services they need to rebuild their businesses, with the abili
Slide 23: Questions
Questions 18 February 2021
Slide 24: Disclaimer
Disclaimer The material contained in this document has been prepared by QuickFee Limited ACN 624 448 693 (‘Company’) and contains general information about the Company’s activities current as at the date of this presentation (18 February 2021). By accepting this document you agree to be bound by the
Slide 25: Contact details
Contact details: Bruce Coombes, CEO p: +61 418 286 842 e: bruce@quickfee.com Simon Yeandle, CFO p: +61 2 8090 7700 e: simon@quickfee.com Eric Kuret, Investor Relations p: +61 3 9591 8904 e: eric.kuret@marketeye.com.au