Rent.com.au's Q1 FY25 performance

Rent.com.au (ASX:RNT) has released its Q1 FY25 activities report, ending September 30, 2024. The company faced a 14% decrease in quarterly revenue, totaling $678,000, due to lower advertising sales. However, RentPay saw a 70% increase in revenue year-over-year and surpassed 10,000 active users, marking significant growth.

Q1 FY25 highlights and future outlook

Rent.com.au reported a decline in advertising sales, impacting its Q1 FY25 revenue. However, RentPay demonstrated robust growth with a 70% revenue increase and over 10,000 active users. The addition of PayPal as a payment option has been well-received. Despite current challenges, the company looks forward to improved revenue streams through a partnership with Connectnow and anticipates an easing in interest rates. Rent.com.au aims to expand its RentPay user base and enhance its utility connection services to drive future growth. The company remains focused on transitioning to a stable revenue model and is optimistic about its long-term prospects.

Executive insights on Q1 FY25 results

The integration of PayPal into RentPay has been positively received, and we are optimistic about our new partnership with Connectnow for utility connections. Despite challenges in the advertising market, we are confident in our strategies to drive future growth and revenue.