Zip (ZIP) AGM 2025 summary

Opening remarks and agenda

• Meeting opened virtually with a quorum present, acknowledgment of traditional land custodians, and addresses by Chair Diane Smith-Gander AO and CEO Cynthia Scott.

• Board, executive team, auditor, and company secretary introduced; technical instructions for participation provided.

• Agenda included Chair and CEO addresses, formal business, voting on resolutions, and Q&A.

Financial performance review

• FY 2025 saw record financial results: TTV up 30.3% to $13.1B, total income up 23.5%, and cash earnings up 147% to $170.3M; group operating margin nearly doubled to 15.8%.

• US business contributed over 80% of divisional cash earnings, with US cash EBTDA up 105.3% YoY and ANZ cash EBTDA up 5.9% YoY.

• Q1 FY 2026 delivered record cash earnings of $62.8M, up 98.1% YoY, with US TTV and revenue growth above 47%.

• Group net bad debts reduced to 1.5% of TTV; strong customer NPS in both US (+68) and ANZ (+57).

• FY26 outlook projects US TTV growth above 40% and continued focus on profitability and cost discipline.

Board and executive committee updates

• Two new US-based directors appointed: Andrew Stevens (effective 17 April 2025) and Matthew W. Schuyler; Meredith Scott proposed for re-election.

• Co-founder Larry Diamond stepped down; Peter Gray transitioned to Head of Strategic Growth.

• New executive appointments: Joe Heck (US CEO), Linda Lu (Chief Legal & Risk Officer), Soraya Alali (ANZ CEO).