Strong revenue result and shows the effects of raising fees. The bad debt figure for Aus is omitting the y/y arrears and comparing q/q. Looking at the investor reports for the ZMT, you can see why... arrears are much better in Sep than Jun (3.09% of receivables >60 days in Sep vs 3.47% in Jun) though this is a seasonal feature. The corresponding item in Sep 22 was 2.27%.
Nevertheless, if the company can push through fee increases without cannibalising demand, it could make it through to the other side. If the market is pricing in the risk of bankruptcy, I imagine it will lower that risk after today's update.
Ann: Q1 FY24 Results - Zip achieves positive Group cash EBTDA, page-32
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