Zip delivers record TTV, revenue and cash EBTDA for the quarter
Zip Co Limited (ASX: ZIP) (“Zip”, or the “Company”) today announced its second quarter results for the three-month period ended 31 December 2024 (“2Q25”). Zip continued its strong momentum and delivered record Total Transaction Volume (“TTV”) of $3.4b, revenue of $269.4m and cash EBTDA of $35.3m driven by an exceptional holiday trading period.
Zip Group CEO and Managing Director, Cynthia Scott said:
“Zip continued to deliver strong growth and momentum in the second quarter, achieving a record set of results, with Group cash EBTDA of $35.3m, TTV of $3.4b and revenue of
$269.4m. These results reinforce our ability to drive ongoing operating leverage and deliver on our significant growth opportunity.
Our strong performance was driven by outstanding US growth, with year on year TTV and revenue growth of 38.3% and 41.0% respectively, driven by an exceptional holiday trading period which included the single largest trading day and month in Zip’s history. Importantly, we are meeting the needs of our customers, with US customer engagement growing strongly and the business delivering a second consecutive quarter of active customer growth, up 7.0% quarter on quarter and 6.2% year on year.
ANZ TTV returned to growth year on year, driven by a strong increase in transaction numbers.
Our focus on margin improvement and the rollout of Zip Plus has delivered an increase in the Australian portfolio yield, up 110 basis points year on year to 18.6%, another strong result in a high interest rate environment. The business is well-positioned to deliver on further product innovation and marketing initiatives in the second half of FY25 to drive profitable growth.
We remain focused on delivering our FY25 strategic priorities of growth and engagement, product innovation and operational excellence and fulfilling our purpose of unlocking financial
potential, together.”
ZIP_2Q_FY25_Results_Update
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