Quickfee Ltd. · ASX:QFE
Quickfee — Shareholder Meeting (November 2023)
30 slides from Quickfee's shareholder meeting presentation, Nov 29, 2023
Slide 1: QuickFee 2023 Annual General Meeting address, presentation and business update
ASX Release | 29 November 2023 QuickFee 2023 Annual General Meeting address, presentation and business update QuickFee Limited (ASX:QFE) (“QuickFee”) attaches the following documents to be presented at its 2023 Annual General Meeting (“AGM”) today: • Chair’s address; • Management presentation slides
Slide 2: QuickFee Limited 2023 Annual General Meeting
QuickFee Limited 2023 Annual General Meeting 29 November 2023
Slide 3: Agenda
AGENDA Chair’s address Management presentation Fiscal Year 2023 review Fiscal Year 2024 update and outlook Meeting formalities
Slide 4: Chair's Address
CHAIR’S ADDRESS
Slide 5: Your Board & senior leadership team
Your Board & senior leadership team 29 November, 2023
Slide 6: Chair's Address
Chair’s Address Dear shareholders, On behalf of the Board, I am pleased to We have always maintained that demand In FY23, we put the foundations in place When we reported our FY23 results in We continue to successfully execute on welcome you today as the Chair of for our lending solutions would rema
Slide 7: FY23 Results Overview
FY23 Results Overview Record FY23 results across all key metrics Refocus on serving accounting and law firms in the US and Australia Group revenue up 37% to A$14.8 million driven by: + Australia Finance TTV growth of 22% to A$46.4 million, revenue yield of 11.3% (up 130bps) + US Finance TTV growth o
Slide 8: FY23: Foundation in place for scalable growth
FY23: Foundation in place for scalable growth Investment in proprietary technology New QuickFee Connect integrations with practice management systems Key structural changes to re-commit to professional services firms + Key leadership appointments, being: + Appointment of Jennifer Warawa as President
Slide 9: Management Presentation
MANAGEMENT PRESENTATION
Slide 10: FY23 Highlights - Financials
FY23 Highlights - Financials Record results across all key metrics + Revenue up 37% to A$14.8 million Financial Performance + Gross profit up 24% to A$9.4 million A$’M FY23 FY22 %+/- + Adjusted EBITDA* up 48% to A$(6.6) million Finance (Pay Over Time) revenue** 7.8 5.3 +47% Pay Now revenue 7.0 5.5 +
Slide 11: US Profit and Loss
US Profit and Loss US Financial Performance US business approaching profitability A$’M FY23 FY22 %+/- + Strong revenue growth: Revenue increased by 36%, driven by 24% Pay Over Time (Finance) revenue 2.6 1.6 +63% growth in US lending to US$20.9 million at an 8.8% average revenue Pay Now (ACH/EFT + Ca
Slide 12: AU Profit and Loss
AU Profit and Loss AU Financial Performance Growing demand for fee funding solutions as A$’M FY23 FY22 %+/- economy contracts Pay Over Time (Finance) revenue 5.2 3.8 +37% Pay Now (Payments) revenue 0.9 0.7 +29% + Strong revenue growth: Revenue up 36% to A$6.1 million, driven by a Total revenue 6.1 4
Slide 13: FY24 To-Date Performance
FY24 TO-DATE PERFORMANCE
Slide 14: 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 15: Q2 FY24 to-date progress
Q2 FY24 to-date progress Q2 FY24 to-date (1 October 2023 to 15 November 2023) + October 2023 was a record month for lending in the US hitting US$2.5 million for the first time + US Finance TTV up 35% on pcp (1 October 2022 to 15 November 2022*) + Australia Finance TTV up 15% on pcp (1 October 2022 t
Slide 16: Outlook
OUTLOOK
Slide 17: 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 18: 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 29 November, 2023 16
Slide 19: The Smart Way to Reduce A/R
“The Smart Way to Reduce A/R” www.quickfee.com 2 November, 2023 17
Slide 20: 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 Focus on reducing cash burn in FY24,
Slide 21: Meeting Formalities: Resolutions
MEETING FORMALITIES: RESOLUTIONS
Slide 22: Resolution 1: Adoption of remuneration report
Resolution 1 Adoption of remuneration report “That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the remuneration report as contained in the Company’s annual financial report for the financial year ended 30 June 2023.”
Slide 23: Resolution 2: Re-election of director – Dale Smorgon
Resolution 2 Re-election of director – Dale Smorgon “That for the purpose of 14.2 of the Company’s Constitution, ASX Listing Rule 14.4 and all other purposes, Dale Smorgon, a Director, retires by rotation, and being eligible for election, is re-elected as a Director of the Company.” Proxy results Pr
Slide 24: Resolution 3: Performance Rights to Dale Smorgon
Resolution 3 Approval to issue Performance Rights to Dale Smorgon “That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, approval is given for the issue of up to 1,136,364 Performance Rights to Dale Smorgon under the QuickFee Performance Rights and Option Plan (PROP) on the te
Slide 25: Resolution 4: Performance Rights to Bruce Coombes
Resolution 4 Approval to issue Performance Rights to Bruce Coombes “That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, approval is given for the issue of up to 2,737,030 Performance Rights to Bruce Coombes under the QuickFee Performance Rights and Option Plan (PROP) on the
Slide 26: Resolution 5: Performance Rights to Michael McConnell
Resolution 5 Approval to issue Performance Rights to Michael McConnell “That, for the purposes of ASX Listing Rule 10.14 and for all other purposes, approval is given for the issue of up to 1,107,955 Performance Rights to Michael McConnell under the QuickFee Performance Rights and Option Plan (PROP)
Slide 27: Resolution 6: Additional share issue capacity under Listing Rule 7.1A
Resolution 6 Approval of additional share issue capacity under ASX Listing Rule 7.1A “That, pursuant to and in accordance with ASX Listing Rule 7.1A and for all other purposes, the Shareholders of the Company approve the issue up to that number of Equity Securities equal to 10% of the issued capital
Slide 28: 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 29: 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
Slide 30: Contact Details
CONTACT DETAILS Simon Yeandle, CFO & Company Secretary p: +61 2 8090 7700 e: simon.yeandle@quickfee.com Katie Mackenzie, Investor Relations p: +61 455 502 197 e: kmackenzie@belleviewir.com.au