Initial thoughts;
Negatives;
Big jump in cash costs of staff compared to last quarter, but segmented could easily be pay cycles and CPI pay increases.
Only 1100ish last quarter rentpay signups, considering marketing spend thats not many off the back of 1500, not exponential growth. Pretty disappointing followup.
They have more borrowings, which I hate and hope they keep clear of. It's a spiral for these micros. Id rather dilute to buggery, debt repayments will kill us.
Positives or 'ok' parts.
Portal growth, EBITDA positive. This is good, hopefully keeps going. I'm guessing theres a lot of RentBond in those numbers, which hopefully leaves room to grow advertising in the future too.
RentPay already over 400 new users this month, seeing website data and the outlook comments, maybe theyve gotten some traction somewhere... who knows.
Rentpay EBITDA loss 528k, last quarter it was 600k. so annualised of $2m now - last year business was 2.5m. Trending in the right direction, hopefully trends that way faster.
ARPU - Solid step up, and I like their pivot to 0.99% fee. Still language about new partnerships that never eventuates.
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