Beforepay Group Ltd (ASX: B4P) reported a 57% year-over-year increase in cash net profit after tax (NPAT) to AUD 15.7 million for the 2026 fiscal year, up from AUD 10.0 million in the prior period. Revenue rose 26% to AUD 50.6 million, while total advances grew 19% to AUD 963 million.
The Pay Advance product, which accounted for the majority of advances at AUD 946 million, saw average advance sizes increase by 15% to AUD 450. Net bad debts for the segment rose to 0.4% from 0.2% in FY 2025. The company’s Personal Loan product, though smaller in scale, surged 728% in advances to AUD 16.9 million, with an average advance size of AUD 3,124 and net bad debts of 3.3%. Overall net bad debts for the group stood at 0.5%, up from 0.2% in the prior year.
Operational efficiency improved, with the company employing approximately 50 full-time staff while originating more than 2 million loans annually. Cash NPAT per full-time employee reached AUD 314,000, a 35% increase from the prior year. The group’s equity position rose 25% to AUD 48.9 million, while return on equity (LTM) stood at 20%. Gross profit margin (LTM) was reported at 96%, with a price-to-earnings ratio of 8.91.
Beforepay executed a new AUD 100 million debt facility in July, replacing a previous AUD 55 million facility. The improved terms included interest rates of approximately 3%–4%, with estimated annual savings exceeding AUD 1 million based on AUD 40 million utilization. The total loan book was reported at about AUD 70 million.
The company also repriced its Pay Advance product from a flat 5% fee model to an interest-bearing structure, lifting average pricing to just under 7% of originated amounts. Management noted the repricing was completed partway through the fourth quarter. Beforepay’s automated lending platform processes roughly 40,000 loans weekly with minimal human intervention.
Shares in Beforepay rose 1.43% to AUD 1.77, within a 52-week range of AUD 1.18 to AUD 2.77. The stock carries a beta of 1.6, with InvestingPro assigning a financial health score of 3.21 out of 5.
