Record-Breaking Revenue and Growth
Propel Holdings achieved record quarterly revenue of $152.1 million, an increase of 30% from Q3 2024, and record total originations funded of $205 million, up 37% year-over-year. Net income rose by 43% to $15 million.
Strong Performance in Canada and UK
Revenue in Canada grew by 41% year-over-year, and in the UK, record originations and revenue were achieved with a 78% increase in loan originations in September.
Lending as a Service Growth
The Lending as a Service program achieved record revenue exceeding $5 million in Q3, representing growth of more than 4x from last year and sequential growth of approximately 13%.
Successful Integration and Growth in UK Market
The integration of QuidMarket in the UK was completed ahead of schedule, with record growth driven by enhanced acquisition, risk, and analytics capabilities.
Dividend Increase
Propel Holdings' Board of Directors approved an increase in the annual dividend from $0.78 to $0.84 per share, marking the ninth consecutive dividend increase.