Announcement PDF Appendix 4E For the year ended 30 June 2023 Results for announcement to the market Previous corresponding period: year ended 30 June 2022 $’000 Up/down Movement % Revenue from ordinary activities 14,766 Up 36.0% Loss from ordinary activities after tax attributable to members (8,076) Down – 40.2% Net loss for the period attributable to members (8,076) Down – 40.2% The group has reported a loss for the period of A$8,076k (2022: $13,500k), with net assets amounting to A$8,945k as at 30 June 2023 (2022: A$16,296k), including cash reserves of A$3,387k (2022: A$8,185k). Please refer to the ‘review of operations and activities’ on pages 5 to 13 for further explanation of the results. Additional information supporting the Appendix 4E disclosure requirements can be found in the review of operations and activities and the financial statements for the year ended 30 June 2023. Dividends No dividends have been paid, recommended, reinvested or declared by QuickFee Limited for the current financial year. No dividends of QuickFee Limited were paid for the previous financial year. The group does not operate a dividend reinvestment plan. Net tangible assets per ordinary share 30 June 2023 30 June 2022 Cents Cents 3.27 5.99 Net tangible assets per ordinary share Changes in controlled entities There have been no changes in controlled entities during the year ended 30 June 2023. Foreign entities All foreign entities have adopted the same accounting standards as the Australian parent entity. Audit The financial statements have been audited by the group’s independent auditor without any modified conclusion, disclaimer or emphasis of matter. QuickFee Limited / Appendix·4E 2023 1 E-invoicing and payments for professionals. Annual Report 2023 We help professionals get paid faster. QuickFee is a fast-growing financial technology company, primarily serving accounting and law firms in the United States and Australia. Our mission is to help professional service firms accelerate their Accounts Receivable (A/R) and get paid faster. With multiple online payment options and powerful e-invoicing integrations for practice management systems, the QuickFee platform speeds up the entire bill-to-cash cycle for firms. Through the QuickFee portal, clients can pay their professional service provider with a credit or debit card, EFT or ACH transfer, or a payment plan over 3-12 months. It allows the client to set their own pace for payments while the firm gets paid upfront and in full. The result? Firms get increased access to working capital – and can spend less time chasing down payments. Our vision: Professionals get more time to focus on serving their clients – and can deliver all the payment convenience and flexibility their clients need. CONTENTS Letter from the Chair 1 Corporate governance statement 40 Our winning strategy 2 Financial statements 41 The QuickFee Suite 4 Directors’ declaration 95 Review of operations and activities 5 Independent auditor’s report 96 Directors’ report 14 Shareholder information 101 Auditor’s independence declaration 39 Corporate directory 105 Letter from the Chair Dear shareholders, On behalf of the Board, I am pleased to present QuickFee’s Annual Report for the year ended 30 June 2023 (FY23). Over the past year, we have delivered a strong set of financial results across the business, in addition to further strengthening our management team and refining our growth strategy to refocus on our core professional services lending and payments offerings. We are now reaping the benefits of the considerable investment in product development in recent years to deliver transaction volume and yield growth on a substantially lower cost base. The demand for our market leading payments and lending solutions for professional services firms across both Australia and the US is gaining momentum, driven in part by more challenging economic conditions and our clients desire to protect and preserve their cash. Our products are designed to empower professional service firms to embrace digital payments, adopt e-invoicing and automate their bill-to-cash workflow. Our unique solutions enable our customers to significantly improve their working capital management and get paid faster. In FY23, QuickFee delivered record results across all key metrics. Total group revenue was up 36% to $14.8 million, driven by record total transaction values (TTV) and record financing volumes in Australia and the US. Our loan book has grown to a record A$43.2 million at 30 June 2023, up from A$32.9 million at 30 June 2022. The focus on higher margin lending products generated yield improvement in Australia and the US and by removing non-essential costs from the business our operating expenses reduced by 21% over the past year. Our lending products continue to have minimal credit risk and bad debts, as QuickFee’s direct clients, our professional services firms, guarantee their clients borrowings. The Australian business posted a strong FY23 result with Finance TTV growth of 22% to $46.4 million, revenue growth of 36%,and an increase in Finance revenue yield to 11.3%. In addition, we had 525 active firm customers, an all-time record number. In the past year, the legal disbursement funding product has continued to grow and now accounts for 15% of the Australian loan book at $6.5 million. QuickFee Limited ABN 93 624 448 693 The US business had an exceptional year of growth in FY23, with revenue up 36%, total transaction values up 21%, and Financing volumes up 24%. The growth in TTV reflects the quality and breadth of our digital payments offering, supported by QuickFee Connect which integrates with leading practice management solutions. Our merchant numbers in the US increased by 8% to 756 in the past year and active customers grew 7% to 319,000. Importantly, throughout the past year, our leadership team in the US has strengthened with the appointment of Jennifer Warawa, to President, North America. Under Jennifer’s leadership our US growth strategy has been further refined. We have seen both lending and payment volume growth from the activation of important strategic alliances within the CPA community. Our growth potential in the US remains significant, with many accounting and law firms prioritising automation and efficiency within their payments processes as they move towards e-invoicing. QuickFee enters FY24 at an inflection point in revenue and earnings growth, as we track towards group operating breakeven. Pleasingly, in Q4 FY23 we saw 50%+ growth in both the US and AU Financing revenue, giving us strong momentum heading into FY24. We are executing against our growth strategy and the Board is confident we have the right leadership and management in place to drive expansion across both the Australian and US markets. I would like to thank the entire QuickFee team for their hard work and dedication in another busy year. My fellow directors and I would also like to thank our shareholders for their ongoing support. We remain optimistic that QuickFee is in a strong position to deliver improved profitability and earnings growth in FY24. Yours sincerely, Dale Smorgon Non-Executive Chairman QuickFee Limited / Annual Report 2023 1 Our winning strategy Fixing the broken bill-to-cash cycle for firms. QuickFee’s product suite resolves critical gaps in the invoicing and A/R processes at many professional service firms. In a 2022 US survey, over three-quarters of QuickFee firms reported that clients were primarily paying with paper cheques. This number dropped to 56% in our 2023 A/R and Invoicing Survey, illustrating how firms are embracing digital payments as an alternative to cheques. + Almost a third (30%) of respondents are not sending regular invoice reminders to clients. + 71% of respondents are spending 1-3 hours a week on payment follow-up, with a smaller number (14%) spending 5-10 hours or more. Even as cheque volume decreases – and e-invoicing adoption spreads – many accounting and law firms still struggle with high Days Sales Outstanding (DSO) and cash locked in Accounts Receivable. This is due, at least in part, to an extended bill-to-cash cycle that requires too much manual work. QuickFee is uniquely positioned to help firms solve these core issues with automated invoicing, payment, and financing options that all reduce the time spent on manual follow-up. From the 2023 US QuickFee A/R and Invoicing Survey: + The average DSO for professional services firms was 47.6 days. + Almost a third (32%) of respondents say it takes 60 days or more to receive payment. 2 The QuickFee platform also assists firms with freeing up working capital locked up in Accounts Receivable. This capital can then be invested in digital transformation, recruiting, and other critical priorities – a game-changer as firms grapple with challenges like automation and an uncertain economic climate. Our winning strategy Preparing our platform and team to meet market demand. In FY23, the QuickFee team invested considerable resources in its proprietary technology. With the creation of a centralised firm portal, QuickFee successfully transitioned most of its firms from using third-party platforms to QuickFee-owned and managed software. This significantly increased the security, integration potential, and long-term scalability of our platform. After pivoting away from the commercial services market and discontinuing the Buy Now, Pay Later (BNPL) product in early FY23, QuickFee also re-committed to meeting the needs of professional services firms. Primarily, this meant developing new practice management integrations and building on existing technology partnerships in the accounting and legal professions. 5. Prioritising relationships with top professional services firms, networks, and alliances – most notably, by appointing Rafael Casas to lead on Strategic Alliances and Partnerships in the US. Between these investments, QuickFee is ready not only to continue serving the accounting profession, but to build a reputation as an A/R accelerator and digital transformation leader for firms in the US and Australia. Additionally, the QuickFee team made structural changes in FY23 as part of our re-commitment to professional service firms: 1. Appointing Jennifer Warawa as President, North America, drawing on her vast experience and network as a thought leader and innovator in the accounting profession. 2. Streamlining the US team with a professional services focus and building more alignment across crossfunctional departments. 3. Evaluating QuickFee’s payment partners with respect to the needs of professional services firms and making strategic changes to third-party vendors for ACH processing. 4. Strengthening our Card processing technology and embedding it into the proprietary QuickFee platform. QuickFee Limited / Annual Report 2023 3 The QuickFee suite Provide a personalised payment experience. Firms can accept multiple forms of payment with QuickFee. Through the QuickFee firm portal, it’s easy to reconcile settlements and transactions, or get notified when a client pays their invoice. 5 seamless payment solutions: Card Payments - Merchant fees optional! Accept debit and credit cards, with the option to pass the credit card surcharge to the client. Compatible with most card types. EFT/ACH/eCheck - It’s free for your clients to pay via EFT/ACH or eCheck(US). There are no caps on what you can accept and no maximums on invoicing. Finance - Give clients more flexibility (while the firm gets paid upfront). Generate customised payment plans at 3, 6, 9, or 12-month terms. Connect (US) - Save hours of unbillable time with online payments and e-invoicing, integrated directly with your practice management system. Compatible with Wolters Kluwer CCH Pro System fx, Wolters Kluwer CCH Axcess Practice, and IRIS Practice Engine. Recurring Payments (US) - Set your regular clients on a consistent schedule with our recurring payment feature. Comes with standard ACH and Card processing. 4 Review of operations and activities QuickFee is at an inflection point and well-positioned for growth QuickFee is making great progress on our mission to be the market leading Accounts Receivable accelerator for professional service firms. We empower professional service firms to: + Embrace digital payments; + Reduce Accounts Receivable through use of our specialised finance product; + Adopt e-invoicing; and + Automate their bill-to-cash workflow. As a result, our customers achieve unparalleled efficiency in their Accounts Receivable process and collections, freeing them up to do higher value work while enabling them to get paid faster. United States commentary Professional services In FY23, our total transaction volume growth showcases the success of our digital payments offerings (QuickFee Finance, ACH and Card), along with Connect’s seamless integration with leading practice management solutions. These solutions have been well-received in the market, providing firms’ clients with flexible and user-friendly payment options, enhancing the client experience, and optimising speed and cost efficiency within the firms’ bill-to-cash cycle. Additionally, there were several market dynamics in the accounting profession that acted as tailwinds for QuickFee’s offering in the US, the most prominent being the talent shortage which caused a need for increased automation and efficiency within firms to offset their ability to fully staff their firm. Furthermore, the US payments market continued modernising and moving more payment volume online and the professional services sector was a prime example of this shift. In a June 2023 survey of professional services firm contacts, 56% said that half or more of their clients were paying with paper cheques – down from 77% of respondents in 2022. Only 4% reported that their firms still relied entirely on traditional mail for invoicing, with the majority now offering e-invoicing instead (or using a combination of both methods). These market dynamics translated into favourable growth in all QuickFee products from both higher usage of existing merchants and new merchant acquisitions. In FY23, merchant numbers grew 8% to 756 (FY22: 700) and active customers similarly grew 7% to 319,000 (FY22: 253,000). This in turn has led to QuickFee’s ACH and Card TTV in aggregate growing 21% over FY22, up to US$1.164 billion (FY22: US$961 million). This was an encouraging outcome for what is a highly scalable revenue stream and represents substantial upside opportunity to the business as QuickFee continues to grow and the adoption of online invoicing and payments increases. Connect adoption has also delivered increased volumes through the QuickFee platform. QuickFee’s strategy of continued market share growth in the professional services vertical across ACH, Card and Financing is driven primarily through three strategic levers: + Boost organic growth through a revamped sales approach and execution of comprehensive digital marketing strategy, enabling accelerated new customer acquisition, substantial growth in our Finance product, and increased penetration of existing firms through Connect adoption. + Enhanced focus on, and acceleration of, our strategic alliances and partnerships strategy to achieve exponential growth by leveraging ‘one to many’ relationships. Increase US market share through deeper engagement with accounting firm alliances and associations, facilitated by our new head of QuickFee Limited / Annual Report 2023 5 Review of operations and activities Continued Strategic Alliances and Partnerships and sustained participation in key industry conferences. + Drive cost-effective product development with a narrow focus on expanding Connect integrations to reach more practice management systems, unlocking the US accounting market for QuickFee’s payment solutions and enhancing firm experience through a revamped product UX/UI. Detailed TTV and profitability metrics by product, revenue yield, Net Transaction Margin (NTM) and Gross Margin (GM) are shown in the tables on the following pages. Pay Over Time (Finance) Uncertainty in economic conditions saw increased demand for our Finance product as businesses looked to preserve cash and boost cashflow, while professional service firms aimed to accelerate their Accounts Receivable collections. With that, Finance saw much stronger growth in FY23 compared to FY22, with TTV up 24% in FY23 to US$20.9 million (FY22 up 11% on FY21 to US$16.8 million). QuickFee implemented increased borrowing interest rates in Q2 FY23 as well as at the start of FY24 to maintain our net interest margins, and the impact of these increases is reflected in both increasing FY23 revenue yields of 8.3% (FY22: 6.8%) and into FY24. Pay Now (ACH and Card) QuickFee has experienced continued rapid growth in ACH TTV over the past two years, with ACH TTV in FY23 up 22% to US$953 million. QuickFee’s Card product enjoyed similar TTV growth to ACH, up 15% to US$211 million n FY23 (FY22: US$183 million). Credit and debit cards continue to be a favoured payment method in the US for professional services fees. Visa announced that effective April 15, 2023, the cap on credit card surcharge was being lowered from 4% to 3% across the United States with the exception of Connecticut and Massachusetts, where surcharge programs are not permitted. QuickFee increased the credit card surcharge for professional service fee payments by 0.5% (to 3.5%) during Q4 FY22 and had anticipated an increased yield for FY23. However, we were required to comply with this regulation change and therefore reduced the credit card surcharge and yields reduced accordingly. 6 QuickFee Connect In FY23, two additional integrations were developed for QuickFee Connect. Both CCH Axcess and IRIS Practice Engine, combined with our initial integration with CCH ProSystem fx, represent the practice management solutions used by a large portion of the US accounting market. Connect delivers a compelling value proposition for both CPA firms and their clients. CPA firms can easily present clients with QuickFee’s full suite of Pay Now and Pay Over Time solutions, automating their bill-to-cash workflow. For customers that have adopted Connect, we have seen up to 64% in payment volume increase year-over-year, which further validates the importance of Connect in accelerating our transaction volume from both existing and new customers. Australia: a return to pre-Covid levels of activity With Finance TTV growth of 22% to A$46.4 million in FY23 (FY22: A$38.1 million), following FY22 growth of 24% on FY21, and all-time records of both active firm numbers of 525 in FY23 and lending of A$14.9 million in Q4 FY23, we are as well-placed as we have ever been in the Australian market. Increasingly challenging economic conditions have driven robust demand for fee funding solutions across QuickFee’s accounting and law firm client base. While the market in Australia is mature, we continue to sign up new accounting and law firms, with additional prospects for QuickFee’s growing legal disbursement funding product, which we have been offering since 2014. This product provides funding for up to 30 months for disbursement costs for law firms specialising in personal injury cases. The product comprises 15% ($6.5 million) of the Australian loan book at 30 June 2023. Finance revenue grew 38% to A$5.2 million (FY22: A$3.8 million), from a combination of 22% TTV growth and increases we made to our interest rates in Q2 FY23, with revenue yields increasing to 11.3% in FY23 (FY22 10.0%). QuickFee makes a small gross margin on its EFT and card products in Australia. These products are offered as an option on our payment portal rather than being sold as a profit generator. Review of operations and activities Continued Our ‘Q Pay Plan’ product, which provides Finance to the homeowner services market and includes the Jim’s Group Franchise agreement, continues to make a positive contribution to the group with FY23 TTV up 113% to A$1.7 million (FY22: A$0.8 million). QuickFee founder and Executive Director Bruce Coombes continues to lead the Australian business, ensuring we have a committed and stable team servicing our longterm customers in our home market. Detailed TTV and profitability metrics by product (revenue yield, Net Transaction Margin (NTM) and Gross Margin (GM)) are shown in the tables on the following pages. Board of directors and leadership team Dale Smorgon Non-Executive Chariman Michael McConnell Non-Executive Director Jennifer Warawa President, North America Bruce Coombes Executive Director and Managing Director, Australia Simon Yeandle Chief Financial Officer and Company Secretary QuickFee Limited / Annual Report 2023 7 Review of operations and activities Continued Financial performance to A$7.4 million (FY22: A$5.7 million). Profit & loss: Results reflect a refocus on professional services lending and payments; leveraging past investments in our technology platform to deliver transaction volume and revenue yield growth; renewed leadership; removing non-essential costs from the business; and a continued low credit loss business model. As QuickFee’s lending activities are funded by approximately 90% borrowings and 10% equity, a combination of growth in the loan books and the higher interest rate environment resulted in interest expense increasing A$1.6 million to A$2.6 million in FY23. The effects of increases in the interest rates it charges clients of professional firms made during the year will continue to be reflected in interest revenue growth. Record Total Transaction Volumes (TTV) in the US across all products and a strong year of growth in Australia drove a much improved financial performance in FY23 as QuickFee tracks towards profitability. Cost of sales increased 25% to A$2.8 million, in line with volumes, as a majority of payments processing costs are variable. The group reported revenue growth of 36% to A$14.8 million, with interest revenue from Finance up 43% to A$7.3million (FY22: A$5.1 million) and payments revenue and other revenue from contracts with customers up 30% Detailed analysis of the profitability of each product, including revenue yield, Net Transaction Margins and Gross Margins are shown in the tables on the following pages. REVENUE SUMMARY PROFIT AND LOSS A$’000 FY23 FY22 YEARON-YEAR MOVEMENT 35% Group revenue 14,766 10,861 +36% 486 16% Gross profit 9,361 7,614 +23% 2,558 1,567 63% Gross margin % 63% 70% -7%pts US BNPL 230 384 -40% US revenue 8,697 6,392 36% Other income 151 61 +148% Operating expenses (16,042) (20,247) -21% Adjusted EBITDA1 (6,530) (12,572) +48% Depreciation and amortisation (1,127) (786) -43% Net finance costs (419) (142) -195% Loss for the period (8,076) (13,500) +40% A$’000 FY23 FY22 YEARON-YEAR MOVEMENT US ACH (Pay Now) 5,345 3,955 US Card (Pay Now) 564 US Finance (Pay Later) AU Finance (Pay Later) 5,226 3,800 38% AU Pay Now 764 622 23% AU BNPL 79 47 68% AU revenue 6,069 4,469 36% Group revenue 14,766 10,861 36% 1. * Adjusted EBITDA = statutory EBITDA less interest expense on loan book borrowings. This metric deducts interest on operating borrowings but excludes other finance costs. 8 Review of operations and activities Continued With the increased focus on reaching profitability and removal of non-essential costs from the business, all operating expense categories decreased, in total by 21% (A$4.2 million) , with H2 FY23 lower by approximately 5% than H1 FY23. General and administrative costs decreased by 5% to A$7.1 million (FY22: A$7.5 million). Sales and marketing costs decreased 11% to A$2.4 million QuickFee narrows its focus to attend US acccounting events which continue to be a productive source of leads and relationship management. Customer acquisition costs (which include overheads from sales management, new business sales staff, direct marketing and merchant onboarding costs) were reduced by 45% to A$2.6 million as the business narrowed its focus and rebuilt its US sales team. Product development expenditure was reduced by 25% to A$3.9 million, reflecting the step down in technology spend from April 2022. However, QuickFee continues to invest in its Connect integration product that will accelerate TTV and revenue growth, and new product UX/UI that will drive firm sign-ups and retention. One of the core tenets of QuickFee’s business model is the low credit risk nature of its lending product, which is reinforced by our professional firms’ guarantee of their client’s borrowings. This continues to ensure minimal levels of bad debts across the business. Net bad debt write-offs in FY23 were A$78,000, 0.1% of total lending (FY22: 0.10%). Our six year average is 0.18%. The provision for expected credit losses in FY23 decreased A$177,000, due to the discontinuation of the BNPL product. The total provision at 30 June 2023 was A$219,000, which is 0.5% of the total loan receivables at 30 June 2023 (30 June 2022: 1.2%). This demonstrates the low credit risk nature of all of QuickFee’s lending products and the firms we underwrite. Bad debts are expected to remain at this very low level. The group reported an adjusted EBITDA of A$(6.5) million. Other key results comprised: + Australian segment: gross profit of A$3.3 million and adjusted EBITDA of A$0.2 million; + US segment: gross profit of A$6.1 million and adjusted EBITDA of A$(0.7) million, up from A$(4.6) million in FY22); + Group loss after tax of A$8.1 million for the FY23 year (FY22: loss of A$13.5 million), reflecting the revenue growth and reduced cost base in FY23, that sees QuickFee approaching profitability. OPERATING EXPENSES A$’000 FY23 FY22 YEAR-ON-YEAR MOVEMENT General and administrative expenses (7,116) (7,524) -5% Selling and marketing expenses (2,389) (2,670) -11% Customer acquisition costs (2,639) (4,821) -45% Product development expenses (3,898) (5,232) -25% Total operating expenses (16,042) (20,247) -21% QuickFee Limited / Annual Report 2023 9 Review of operations and activities Continued Balance sheet: well funded Net assets at 30 June 2023 amounted to A$8.9 million (2022: A$16.3 million). QuickFee’s lending business relies on its asset-backed borrowing facility with Northleaf Capital Partners (Northleaf) to fund approximately 90% of growth in the loan book, with 10% funded out of our own capital. The strong growth in our lending business in the year has led to our loan book growing to A$43.2 million at 30 June 2023, from A$32.9 million at 30 June 2022. This growth across both the US and Australian books has been primarily funded by drawing on the Northleaf facility. The group remains well funded with adequate liquidity and growth capacity. AU LOAN BOOK A$M 23.2 31.0 FY23 FY22 US LOAN BOOK US$M 8.1 6.7 FY23 FY22 Cash and liquidity Total Liquidity of A$8.2 million at 30 June 2023 shown in the table below represents the amount of cash available to fund operating activities and the 10% first-loss, equityfunded growth in the loan book. The Company maintains its cash on hand and drawn borrowings at a minimum in order to reduce interest expense. The Northleaf debt facility provides up to A$60.3 million, so there is a further A$19.7 million of borrowing facility headroom. Total Liquidity plus this growth capacity was A$27.9 million at 30 June 2023. CASH AND LIQUIDITY A$M 10 30 JUNE 2023 30 JUNE 2022 $+/- Cash and cash equivalents (A) 3.4 8.2 -4.8 Available undrawn borrowings based on loan book at 30 June (B) 4.8 8.1 -3.3 Total Liquidity (A) + (B) 8.2 16.3 -8.1 Growth capacity (further borrowings facility headroom) 19.7 27.7 -8.0 Total Liquidity plus growth capacity 27.9 44.0 -16.1 Review of operations and activities Continued Outlook: well-structured for growth and profitability The foundational work completed during FY23 across QuickFee’s operating model, culture and talent, expanded product offering, and commercial technology stack puts the organisation on a solid footing. Combined with continued market tailwinds, including ongoing adoption of online payments and e-invoicing in the US, the path to scaled revenue growth and improved profitability in FY24 looks favourable. Our strategic priorities are clear, and we are confident in our ability to execute them and deliver substantial revenue growth and profitability. QuickFee will continue to grow its position as the market leader and we enter FY24 with a fully staffed organisation that is optimistic, energised and committed to helping professional service firms accelerate their Accounts Receivable and get paid faster through QuickFee’s product and service offering. QuickFee Limited / Annual Report 2023 11 AUSTRALIA PRODUCT TTV PERFORMANCE FY23 FY22 Q1 Q2 Q3 Q4 FY23 Q1 Q2 Q3 Q4 FY22 EFT & Card (Pay Now) TTV 14 15 14 19 62 13 13 12 14 52 Growth vs. pcp 8% 15% 17% 36% 19% 8% 18% 33% 17% 18% Finance (Pay Over Time) TTV 8.9 11.7 10.9 14.9 46.4 8.0 9.3 7.8 13.0 38.1 Growth vs. pcp 11% 26% 40% 15% 22% 25% 35% 18% 19% 24% BNPL TTV 0.4 0.4 0.5 0.4 1.7 0.2 0.2 0.2 0.2 0.8 100% 100% 150% 100% 113% - - 100% 0% 167% Active customers (#000s) 14 13 12 14 39 13 12 10 12 35 Growth vs. pcp 8% 8% 20% 17% 11% 0% 9% 11% 20% 17% Active firms (#) 397 410 409 424 525 390 394 388 421 495 Growth vs. pcp 2% 4% 5% 1% 6% 9% 9% 5% 6% 1% BNPL Total TOTAL TRANSACTION VOLUMES A$M Growth vs. pcp FIRM AND CUSTOMER NUMBERS PRODUCT PROFITABILITY SUMMARY FY23 A$000S EXCEPT WHERE STATED FY22 EFT & Card Financing BNPL Total VOLUME A$M 62 46.4 1.7 110.1 52.0 38.1 0.9 91.0 Finance revenue (interest) - 4,699 67 4,766 - 3,415 37 3,452 Payments and other revenue 764 527 12