Bruce Coombes
Founder, MD, CEO & Executive Director

Thanks very much for taking the time to review this summary FY '26 performance. For those of you who don't know, I'm Bruce Coombes, the CEO at QuickFee. In a nutshell, revenue is down 9%, and our earnings guidance is confirmed. So I'll drill into a little bit of a detail around the revenue, especially across Australia and the United States. But I want to make it clear that we continue to confirm earnings guidance for FY '26 EBTDA in the range of $3.75 million to $4.25 million. You can see a number of the highlighted numbers there.

I'm going to go into the detail now. In December 2024, QuickFee U.S.A. originated the two very large loans. Interest on our loans is, as you'd imagine, amortized over the life of loan. So we only bring to income, each month, the interest earned in that month even though the loan was originated sometime prior. The greatest amount of interest is in the first 3 months of the loan. Accordingly, large originations in December 2024 flowed through to January, February and March 2025 in the U.S. business. Those loans were very large to law firms and their clients and did not repeat the very large transactional matters, which of course, just didn't repeat again.

That's why revenue was down 44% in the U.S. That was offset by a 12% increase in Australian finance revenue to end up with total revenue of AUD 4 million, down 9% on the previous corresponding period. Our decision to move in disbursement funding a few years ago continues to see growth in that particular service line.