Zip Q1 results

1Q FY25 results update
Zip delivers strong Group Cash EBTDA result driven by outstanding US
momentum and growth
Zip Co Limited (ASX: ZIP) (“Zip”, or the “Company”) today announced its results for the quarter
ending 30 September 2024 (“1Q25”).
Zip achieved Group Cash EBTDA of $31.7m (up 233.7% vs 1Q24), driven by a particularly strong
performance in the US business. Zip US delivered Total Transaction Volume (“TTV”) of US$1,301.8m
up 42.8% vs 1Q24 and revenue of US$92.1m, an increase of 43.9% vs 1Q24.
1Q25 FINANCIAL HIGHLIGHTS
● Group Cash EBTDA of $31.7m (up 233.7% vs 1Q24)
● TTV of $2.8b (up 22.8% vs 1Q24)
● Revenue of $239.9m (up 18.8% vs 1Q24)
● Revenue margin of 8.5% (vs 8.8% in 1Q24)
● Transactions of 21.3m (up 18.1% vs 1Q24)
● Net bad debts approximately 1.6% of TTV (vs 1.9% of TTV in 1Q24)
● Cash transaction margin of 3.9% (vs 3.6% in 1Q24)
● Active customers at quarter end of 6.08m (up 1.1% vs 4Q24)
● Merchants on Zip’s platforms increased to 80.1k (up 7.0% vs 1Q24), including Cathay Pacific in
ANZ and GameStop, Major League Baseball Ticketing via Tickets.com and Major League
Baseball Shop in the US
● Zip US delivered very strong TTV performance of US$1,301.8m, up 42.8% vs 1Q24 and
revenue of US$92.1m, an increase of 43.9% vs 1Q24
● US active customers increased YoY (vs 1Q24) and QoQ (vs 4Q24) underpinned by customer
demand for the App and initiatives to drive brand and customer awareness in the US
market
● Zip AU continued to deliver improved portfolio yield which increased to 19.2% and excess
spread to 6.9% in September 2024
● Repaid all existing corporate debt through the successful execution of a fully underwritten
equity placement and Share Purchase Plan (“S