Zip Co Limited (ZIZTF) Q4 2025 Earnings Call Transcript

2025-08-26 09:18:27 ET

Zip Co Limited (ZIZTF)

Q4 2025 Earnings Conference Call

August 21 2025, 08:00 PM ET

Company Participants

Cynthia Scott - Group CEO, MD & Director

Gordon Bell - Group Chief Financial Officer

Joe Heck - Corporate Participant

Vivienne Lee - Corporate Participant

Conference Call Participants

Elijah Mayr - Goldman Sachs Group, Inc., Research Division

Jack Lynch - RBC Capital Markets, Research Division

John Marrin - CLSA Limited, Research Division

Jonathon Higgins - Unidentified Company

Phillip Chippindale - Ord Minnett Limited, Research Division

Siraj Ahmed - Citigroup Inc., Research Division

Timothy Piper - UBS Investment Bank, Research Division

Ware Kuo - BofA Securities, Research Division

ZheWei Sim - Jefferies LLC, Research Division

Presentation

Vivienne Lee

Thanks, operator. Good morning, and thanks, everyone, for joining us for the presentation of Zip's FY '25 results. To open, I'd like to begin by acknowledging the traditional owners of the land on which we meet today, the Gadigal of the Eora Nation and pay our respects to elders past and present. This conference is also being webcast and will be available on Zip's website. I'm joined today by Zip's Group CEO and Managing Director, Cynthia Scott; Group CFO, Gordon Bell; and U.S. CEO, Joe Heck. Cynthia will present our FY '25 group highlights and ANZ business performance. Joe will then cover the U.S. business, and Gordon will provide details of the financial results. Cynthia will then conclude with remarks regarding our FY '26 strategy and outlook, and the presentation will be followed by Q&A.

With that, I'll now hand over the call to Cynthia.

Cynthia Scott

Thanks, Vivienne, and good morning, everyone. On behalf of the Zip team, we're very pleased to be reporting the strongest financial performance in Zip's history. Disciplined execution, customer focus and significant operating leverage underpinned cash earnings growth of 147% and positions us strongly to continue to deliver long-term shareholder value. Our group highlights are set out on Slides 4 and 5. We achieved several milestones this year, including delivering over $1 billion in total income. From a regional perspective, our U.S. business delivered an outstanding performance, and our ANZ business returned to TTV growth. Customer engagement strengthened with average spend and transactions per customer increasing across our 6.3 million customers. This year, we safely processed over 93 million transactions valued at $13.1 billion, up 30.3%. Our revenue margin was 8.3%, reflecting the increased contribution from the U.S., now representing 71% of TTV....

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