Beforepay Group Limited achieved its first full-year profit with a net profit before tax of $3.9m and EBITDA of $8.5m for FY24.
The company saw record Active Users (240,254) and increased new-user acquisition, with Net Transaction Margin expanding by 66% and net defaults improving to 1.4%.
Carrington Labs, the company's new AI-powered risk models and lending solutions business, has a robust pipeline of international opportunities.
Beforepay is working towards launching a new loan product in FY25, having obtained an Australian Credit Licence, and reported cash on hand of $19.2m with an improved equity position of $30.5m.
ASX Code: B4P