Findi's financial progress and strategic expansion

Findi (ASX:FND), a digital payments and financial services provider, has released its financial results for the half-year ending September 30, 2024. The company reported a revenue of $33.9 million and an EBITDA of $12.9 million. Although posting a statutory net loss after tax of $3.9 million, adjustments for growth initiatives and debenture costs resulted in an adjusted profit of $860,000. Key factors for future performance include a contract with the State Bank of India and White Label ATM deployment.

Strategic outlook and future plans for Findi

Findi Limited has shown resilience with a revenue increase to $33.9 million for the first half of FY25, slightly improving EBITDA to $12.9 million. Despite a net loss, adjustments reflect a modest profit. The company is expanding its footprint in India through strategic contracts, including a significant deal with the State Bank of India. The expansion of the FindiPay platform and the acquisition of Tata Communications Payment Solutions Ltd are poised to enhance Findi's market position. Projections for FY25 revenue are set between $80-90 million with an EBITDA forecast of $30-35 million. Future growth is expected from continued deployment of White Label ATMs and merchant acquisitions, with the TCPSL acquisition anticipated to boost revenue significantly by FY26. Findi remains focused on long-term growth strategies with a planned IPO of its subsidiary TSI India on the horizon.

Executive insights on Findi's performance

The first half of FY25 demonstrated Findi's ability to grow our top line while investing in strategic initiatives that will drive future revenue and EBITDA growth. We are particularly excited about our partnership with the State Bank of India, which will significantly contribute to our second-half performance.