Slide 1: Q1 FY24 Business Update
QUICKFEE Q1 FY24 BUSINESS UPDATE 2 November 2023 Non-executive Chairman, Dale Smorgon President, North America, Jennifer Warawa Chief Financial Officer, Simon Yeandle
Slide 2: Q1 FY24 Results Overview
Q1 FY24 Results Overview Group revenue up 31% on the prior corresponding period (pcp) to $4.2 million: + US Finance revenue up 62% on pcp: Total Transaction Values (TTV) up 23% and revenue yield up 230 bps to 9.5% + Australia Finance revenue up 54% on pcp: TTV up 24% and revenue yield up 310 bps to
Slide 3: Q1 FY24 Operational metrics in the US
Q1 FY24 Operational metrics in the US + US Active Customers up 8% to 79,000 and US Active Firms up 8% to 699. The implementation of a new territory-based sales model and updated remuneration structure is driving new customer acquisition, with 44 new firm sign-ups in Q1 FY24 + The strategic decision
Slide 4: Q1 FY24 Operational metrics in Australia
Q1 FY24 Operational metrics in Australia + Demand remains robust in a rising interest rate environment, as professional services firms and their clients seek to improve their working capital. AU Finance TTV up 24% on pcp to $11.0 million + AU Active Customers up by 21% on pcp to 17,000, AU Active Fi
Slide 5: QuickFee Pay Over Time (Finance)
QuickFee Pay Over Time (Finance) AU Finance TTV AU Finance AU Finance revenue A$M revenue yield A$M Revenue growth driven by both volume & yield 0.3 + In both markets, revenue growth has come from 0.3 both TTV growth and yield improvements Yield 11.0 15.4% TTV + Yield improvements are driven primari
Slide 6: QuickFee Pay Now (ACH/EFT + Card)
QuickFee Pay Now (ACH/EFT + Card) Transaction volume growth in US and AU US Pay Now 'Last 12 Months' rolling TTV (US$M) AU Pay Now 'Last 12 Months' rolling TTV (A$M) 1,190 66.0 1,130 1,164 62.0 1,086 55.0 55.0 58.0 1,022 51.0 52.0 46.0 48.0 961 873 806 722 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q
Slide 7: What We Do
WHAT WE DO
Slide 8: The QuickFee Platform
The QuickFee Platform QuickFee offers multiple easy ways for clients to pay the firm. The firm is paid upfront within three business days – boosting cash flow and reducing aging A/R. PAY NOW PAY OVER TIME CONNECT (US only) ACH/EFT + CARD FINANCE INTEGRATION + AUTOMATION Traditional method of payment
Slide 9: QuickFee payment portal
QuickFee payment portal www.quickfee.com 2 November, 2023 8
Slide 10: QuickFee Finance: A Game Changer for Firms
QuickFee Finance: A Game Changer for Firms Benefits to the Firm Unique solution combining Pay Now (ACH and Card) with Pay Over Time (Finance) Firms get paid 100% upfront whilst end clients can choose to pay in full or over time Firms maintain total control over clients’ access to payment plans
Slide 11: Executing on the Plan for Scalable Growth in the US
EXECUTING ON THE PLAN FOR SCALABLE GROWTH IN THE US
Slide 12: Executing on the plan for scalable growth in the US
Executing on the plan for scalable growth in the US Improve and optimise sales and customer success teams + New remuneration structure implemented in August to align commissions with company sales targets + Refreshed digital marketing strategy to strengthen brand awareness and pipeline + Improved cr
Slide 13: Streamlining the user experience with richer functionality
QuickFee is streamlining the user experience by offering richer functionality across our platform www.quickfee.com 2 November, 2023 12
Slide 14: US Practice Management integrations
US Practice Management integrations +Broaden our firm relationships +Create greater lifetime value +Expand our current 12% penetration level (% of firm revenue captured) Current Integrations Planned Integrations www.quickfee.com 2 November, 2023 13
Slide 15: Australia: Strong Lending and Growing Disbursement Business
AUSTRALIA: STRONG LENDING AND GROWING DISBURSEMENT BUSINESS
Slide 16: Australia: Strong fee funding and growing disbursement funding business
Australia: Strong fee funding and growing disbursement funding business QuickFee well established as a market leader, with ~40% of the AU market for fee funding AU is profitable and economic conditions are driving increasing demand Revenue and yields continue to grow as borrowing demand improves Qui
Slide 17: Strategy and Outlook
STRATEGY AND OUTLOOK
Slide 18: FY24 Strategic priorities: unchanged
FY24 Strategic priorities: unchanged Focus on reaching profitability + Continue to manage cash burn / cost base + Focus on fastest path to profit: QuickFee Finance and Connect products + Accelerate disciplined and cost-effective product development with a narrow focus Leverage our most valuable asse
Slide 19: Outlook: At an inflection point and well positioned for growth
Outlook At an inflection point and well positioned for growth Growth in both the US and Australia expected to continue, buoyed by economic tailwinds Strong start to FY24 and strengthened management team provides confidence in ability to execute on growth strategy; Finance TTV for October 2023 in lin
Slide 20: Questions
QUESTIONS
Slide 21: Contact Details
CONTACT DETAILS Simon Yeandle, CFO p: +61 2 8090 7700 e: simon.yeandle@quickfee.com Katie Mackenzie, Investor Relations p: +61 455 502 197 e: kmackenzie@belleviewir.com.au
Slide 22: Disclaimer
Disclaimer The material contained in this document has been prepared by QuickFee does not undertake any obligation to publicly release the QuickFee Limited ACN 624 448 693 (‘company’) and contains result of any revisions to these forward-looking statements to general information about the company’s
Slide 23: Glossary
Glossary ACH Automated Clearing House A type of electronic bank-to-bank payment in the US, equivalent to EFT in Australia Active customer Any customer who has transacted with QuickFee in the relevant period Active firm Any firm that has had a transaction with QuickFee in the relevant period APR Annu