Shares of Australian BNPL company Zip surged over 25% to hit a three-year high after reporting a doubling of cash EBTDA to A$170.3 million. Strong U.S. performance drove a 41.6% growth in TTV, with net bad debts down to 1.5%. Zip eyes 35% U.S. TTV growth in 2026 and plans for a secondary U.S. listing on Nasdaq.

Zip shares soared 25.6% to A$3.920, their highest since January 2022, making it the top performer on the ASX 200 index. The stock has risen over six-fold since 2023, fueled by increased U.S. investor interest and improved financial performance. The company expects fiscal year 2026 cash EBTDA to surpass consensus estimates.

The company’s positive financial results and plans for a secondary U.S. listing drove Zip shares to reach their highest level in years, reflecting confidence in its growth prospects and performance. With a strong U.S. business driving growth, Zip aims for continued success and expansion in the competitive BNPL market.

Read more at Yahoo Finance: Australia’s Zip soars on strong earnings, outlook, US listing plan