Key Highlights:
- Cash EBTDA: $35.3m (+50.2% YoY)
- Total Transaction Volume (TTV): $3.4b (+24.8% YoY)
- Revenue: $269.4m (+20.5% YoY)
- Revenue Margin: 7.9% (vs. 8.2% in 2Q24)
- Transactions: 24.4m (+18.1% YoY)
- Net Bad Debts: 1.5% of TTV (vs. 1.7% in 2Q24)
- Cash Transaction Margin: 3.6% (vs. 3.5% in 2Q24)
- Active Customers: 6.3m (+1.5% YoY)
- Merchants: 81.9k (+7.6% YoY)
Strong Performance Driven by US Growth
Zip delivered an exceptional holiday trading period, achieving record TTV and revenue.
- US Market Performance:
- TTV: $2.4b (+39.0% YoY)
- Revenue: $165.6m (+41.6% YoY)
- Active Customers: 4.2m (+6.2% YoY)
- Merchants: 24.4k (+1.3% YoY)
- Best holiday trading period ever, with the highest single-day and monthly TTV in history.
- ANZ Market Performance:
- TTV: $1.02b (+0.4% YoY)
- Revenue: $103.8m (-2.7% YoY)
- Active Customers: 2.1m (-6.2% YoY)
- Merchants: 57.5k (+10.5% YoY)
- Strong transaction growth, up 7.5% YoY.
- Zip Plus rollout contributed to higher portfolio yield of 18.6% (+110bps YoY).
Credit & Financial Performance
- Net Bad Debts: 1.53% of TTV (improved from 1.69% in 2Q24)
- Cash on Balance Sheet: $527.0m
- Available Cash & Liquidity: $195.5m (up from $147.0m in 1Q25)
Strategic Outlook
Zip remains focused on delivering profitable growth through:
- Growth & Customer Engagement – Expanding market presence in the US and ANZ.
- Product Innovation – Enhancing offerings like Zip Plus.
- Operational Excellence – Improving margin efficiency and risk management.
CEO Cynthia Scott commented, “These results highlight our ability to drive operating leverage and capitalise on our significant growth opportunities. With strong performance in the US and renewed growth in ANZ, we are well-positioned to deliver further innovation and engagement in 2H25.”
