Payment platform Zip achieved a net profit of $73 million in the first half of FY24, marking a turnaround from a $205 million loss a year ago.
Transaction volumes for its buy now, pay later system rose almost 10% to $5 billion, with stable bad debts at 1.9% of sales.
The number of merchants increased by 9.3% to 76,200, and active customers slightly rose to 6.3 million. US sales and revenue reached record levels, contributing to an overall revenue increase of 29%.
The Americas segment contributed significantly, with total transaction volume up 33.3% compared to the first half of FY23.