Rent.com.au Posts Record Loan Volumes as Cash Positive Streak Continues
Rent.com.au posts record RentBond loan volumes as cashflow momentum builds
Rent.com.au (ASX: RNT) has delivered a record number of RentBond loans funded in May 2026, exceeding April’s result and positioning the Group on track for a second consecutive quarter of positive operating cashflow. The trading update released 11 June 2026 showed unaudited April and May results reflecting accelerating revenue growth and EBITDA improvement compared to the same period in 2025 and Q3 FY26, confirming the Group remains on track to be EBITDA positive and double revenue by Q2 FY27.
The Group’s revenue growth trajectory showed material acceleration across both months, with the combination of record loan activity and expanding product uptake translating into stronger financial performance.
Jan Ferreira, CEO
“April and May 2026 were two of our best ever months for RentBond loans, with a new record for loans funded in May 2026. Pleasingly, we’re seeing this growth translate into stronger revenue, improved EBITDA and another quarter of positive operating cashflow.”
The company’s conservative lending approach continues to deliver, with expected credit losses remaining within target range despite funding more customers than ever. Emerging repeat customer behaviour — where early RentBond customers are returning for additional loans — is lowering acquisition costs and improving profitability.
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What is RentBond and why does it matter for Australian renters?
RentBond is a move-now-pay-later loan product designed to cover rental costs including bond payments, rent in advance and moving expenses. The product addresses a substantial market opportunity in Australia’s rental sector, estimated at $90 billion per annum with approximately 8 million renters nationally.
The Group estimates 95% of renters are “in tenancy” at any given time, creating a large addressable market for financial products that support renters beyond the initial move-in period. Management’s conservative lending approach has maintained expected credit losses within the target range whilst scaling loan volumes.
Notably, early RentBond customers are beginning to return for additional loans. These repeat transactions are easier to assess and carry lower acquisition costs, enabling the Group to reduce rates for this cohort whilst still improving profit margins.
Recurring revenue exceeds 75% of Group total ahead of schedule
Recurring revenue now represents over 75% of Group revenue, exceeding the company’s FY27 target of 70% ahead of schedule. This composition shift is driven by RentBond and RentPay growth, providing greater confidence in the long-term earnings potential of the platform.
The progression from earlier quarters is notable: recurring revenue mix reached 67% when the Group crossed its first $1 million quarterly revenue milestone, and the composition has continued shifting upward to the current 75% figure as RentBond annuity revenue scaled.
Higher recurring revenue improves earnings predictability and reduces reliance on one-off transactions, a material development for investors assessing the Group’s revenue visibility. The shift positions Rent.com.au with a more stable revenue base as it scales toward profitability.
Homely partnership goes live with volume contributions expected from June
The referral agreement with Homely.com.au is now live, with loan volume contributions expected from June 2026. While integration is still being rolled out, management views this channel as having potential to become a meaningful contributor to RentBond growth over time.
Homely.com.au has similar volumes of rental property listings to Rent.com.au and ranks among Australia’s most visited real estate platforms, featuring millions of user-generated neighbourhood reviews. The partnership provides an incremental loan volume channel without proportional increases in marketing spend.
Adam Spencer, CEO and Founder, Homely
“This partnership will allow us to lend more focus to features and offers that support our users looking to rent. By joining forces with such a respected brand, we can leverage significant expertise, and products, to make finding a rental and financing a move much more seamless.”
Platform expansion targets renters throughout their tenancy journey
The Group is aligning its platform across five product categories designed to help renters build financial capacity: Payments & Bills, Savings & Investments, Loan Products, Insurance Products, and Advice & Support. This expanded focus targets the estimated $90 billion per annum Australian rental market, with particular emphasis on the 95% of renters who are in tenancy at any given time.
Recent platform changes included removal of subscription fees for the base tier and introduction of interest on renter wallet balances. These changes were low cost to the Group and offset by repricing of premium services such as card and other non-bank payment methods. Following implementation, the company observed a notable increase in customer retention.
The three near-term platform priorities are:
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Optimise existing loan products — This primarily refers to RentBond, which continues as a strong growth driver. The Group will work to optimise the Homely arrangement whilst capturing repeat loans from early customers, which carry lower acquisition costs and enable reduced rates alongside improved profit margins.
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Expand bill payment options — Renters currently pay rent, electricity and gas via the platform. Expansion will include internet, insurance, streaming services and other categories, with options for renters to save money on these services whilst increasing platform usability.
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Expand savings products — Following the introduction of low interest rates on wallet balances, the Group is working on the licencing framework to offer more substantial returns to renters, enabling them to reach financial goals faster whilst achieving improved margins for Rent.com.au.
Strong balance sheet supports growth runway
The Group maintains a solid financial position with $6 million in cash and $7.5 million in undrawn debt. When adjusting for the $2.5 million investment in Eldium (not recorded as cash), net debt sits at $5 million. Management confirmed the Group is on track to achieve another positive operating cashflow quarter.
The $7.5 million in undrawn debt available today reflects the debt facility expansion completed in March 2026, when Rent.com.au increased its RentBond lending capacity from $10 million to $15 million and extended the maturity to July 2027.
| Metric | Amount |
|---|---|
| Cash | $6.0 million |
| Undrawn debt facility | $7.5 million |
| Eldium investment (non-cash) | $2.5 million |
| Net debt (adjusted) | $5.0 million |
This balance sheet supports continued scaling whilst maintaining a disciplined cost base, a key enabler of margin expansion as revenue grows.
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Outlook and key milestones ahead
The Group remains on track to achieve its initial 2027 goals of doubling revenue (from Q4 FY25 base) and being EBITDA positive, having already exceeded the target of deriving more than 70% of Group revenue from recurring sources.
Multiple growth levers are now active simultaneously with the cost base remaining stable. Key drivers of confidence include:
- Record RentBond activity delivering material volume growth
- Repeat customer behaviour reducing acquisition costs and improving unit economics
- Commencement of the Homely referral channel providing incremental loan volumes
- Growth in recurring revenue improving earnings visibility and predictability
- Disciplined cost base enabling margin expansion as revenue scales
The company’s trajectory toward Q2 FY27 targets is supported by accelerating revenue growth, improving EBITDA performance, and positive operating cashflow generation across consecutive quarters.
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