Rent.com.au Records Record Revenue in Q3 as Payment Product Continues Growth

The publicly listed real estate marketplace operator Rent.com.au has revealed that it generated record revenue in the third quarter of the Australian financial year. Highlights of the Western Australia-headquartered rentals specialist included:

• Record revenue of A$923k, up 24% vs December 2024 and 5% year-on-year.
• 13,000+ active RentPay customers (up 45% year-on-year) with ARR for the product of A$1 million.
• Fully underwritten entitlement to raise A$1.7M completed

Commenting on the results, recently installed CEO, Jan Ferrera said:

"As we previously said, the seasonal moving peak means that the March quarter is typically a busy quarter for our business, driving strong growth in our renter products, up 43% compared to the December 2024 quarter. Together with the strong growth in recurring revenue from RentPay, we achieved a new record quarterly revenue of A$923k, in line with out Trading Update."

Rent owns and operates the eponymous Rent.com.au portal which competes with the likes of Realestate.com.au and Domain in the Australian market. The company was founded in 2007 and floated on the Australian Stock Exchange in 2015.

Since 2021 the company's business has essentially been split into two reporting segments. The core portal business benefitted from the 'moving peak' seasonal tailwinds and continued to be EBITDA positive throughout the period. Meanwhile, the RentPay side of the business,  which takes a clip for handling tenant rental payments, continues to grow.

RentPay's ARPU reached A$7 during Q3 while annualised recurring revenue for the product surpassed A$1 million as the number of active customers surpassed 13,000.

The company noted that it was in advanced talks to monetise its unique property data and expects data sales to become a meaningful new revenue stream.

Rent's missive to the market also included news of a fully underwritten entitlement issue which went ahead on April 29th, raising A$1.7 million before costs. This capital injection is expected to support ongoing operations and strategic initiatives.