ASX Announcement
02nd June 2022

Openpay Q3 Results


Openpay continues to deliver robust growth and strong margins in ANZ with solid progress in the US.

Q3 FY22 Key highlights:

Solid growth across leading indicators, notwithstanding reduced UK operations:

  • Total Active Merchants of 4.2k up 24% compared to pcp (Q3 FY21)
    • ANZ Active Merchants up 22% to 4.1k vs pcp
  • Total Active Customers of 589k up 17% compared to pcp
    • ANZ Active Customers up 23% to 312k vs pcp 
  •  Total Active Plans of 2.4m up 41% compared to pcp
    • ANZ Active Plans up 54% to over 1.6m vs pcp 
  • Total Group TTV of $94m up 14% compared to pcp
    • ANZ TTV of $86m up 54% compared to pcp
  • Total Group Revenue (including OpyPro) reached $8.7m, up 32% compared to pcp
    • ANZ Revenue (including OpyPro) of $7.5m, up significantly by 62% compared to pcp

Market-leading margins in ANZ

  • Global Revenue Margin has improved from 7.8% in Q3 FY21 to 9.1% in Q3 FY22
    • ANZ Revenue Margin was 8.6% (vs 8.0% in Q3 FY21)
  • Global NTM has improved from 0.1% in Q3 FY21 to 2.3% in Q3 FY22
    • ANZ NTM was 3.3% (vs 2.2% in Q3 FY21)
  • Global NTL has improved from -2.3% in Q3 FY21 to -0.9% in Q3 FY22
    • ANZ NTL was -0.9% (vs -1.3% in Q3 FY21)

Strong trends in arrears and bad debts

  • Total Arrears down from 4.2% in Q3 FY21 to 2.4% in Q3 FY22, ANZ Arrears only 1.8%
  • Total Net Bad Debts down from 3.3% in Q3 FY21 to 2.7% in Q3 FY22, ANZ Net Bad Debts only 1.8%

In Australia, Openpay was ranked 3rd in the Australian Financial Review Best Place to Work awards (Banking, Superannuation and Financial Services category)

In the UK, Openpay continues to explore opportunities to monetise its platform in a capital-light manner

 Opy US progressing well with ongoing work on capital strategies to support and accelerate growth in ANZ and US

OpyPro, Openpay’s B2B SaaS platform, continues to perform strongly delivering record growth across key metrics

MELBOURNE Australia, 28 April 2022: leading payments fintech, Openpay Group Ltd (ASX: OPY) (Openpay or the Company) is pleased to release its quarterly business update for the period ended 31 March 2022 (Q3 FY22).

Ed Bunting, Interim Group CEO, highlighted: “The Group made some tough decisions earlier this year to reduce its UK operations while focusing on ANZ accelerated pathway to profitability and the US as our key growth engine. The renewed strategic direction is delivering strong financial performance and will create long-term value for shareholders. We are pleased to restate that our ANZ business is on track for profitability within 15 months, while we continue to progress our capital strategy to support US growth.”

Dion Appel, ANZ CEO, said: “Our focused strategy is working and we are thrilled to be delivering our strongest Q3 results on record across all key indicators, including market-leading unit economics as we manage our business to profitability.”

Authorised by:
The Board of Directors
Openpay Group Ltd

For the full report please click here.

For further information, please contact:


Aline van Deventer
Head of Investor Relations
Mobile: +61 423 55 34 34

Ed Bunting
Company Secretary


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Stefan Pollack
The Pollack Group
Mobile: 310-7802364

About Openpay

About Openpay Openpay Group Ltd (ASX: OPY) is a fast-growing and highly differentiated player in the global ‘Buy now pay later’ (BNPL) payment solutions market. The Company’s strong platform enables it to deliver the most flexible plans in the market with durations of 2–24 months and values of up to $20,000.

Openpay brings fairness, transparency, and flexibility to merchants and consumers alike, and focuses on industries where it can truly make a difference: Automotive, Healthcare, Home Improvement, Memberships, and Education.

The company focuses on providing a greater range of payment solutions and has created a powerful next-generation BNPL solution—Buy Now, Pay Smarter—that provides transparency and control to consumers when they need it most.

Openpay’s B2B offering, OpyPro, is a SaaS-based platform that enables companies to manage trade accounts end-toend, including applications, credit checks, approvals, and account management all in one system.

Openpay provides services to, payment processors, merchants, and their customers in Australia and the United States, where it operates under the brand name Opy. Openpay also provides services in the UK and New Zealand.

The company was recently ranked number 318 on the Deloitte Technology Fast 500™ Asia Pacific 2020 and is ranked 41 on the Deloitte Technology Fast 50 Australia. For more information, visit

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