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PEXA (PXA) investor relations material
PEXA H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved 16% year-over-year revenue growth to $393.6m, with all segments contributing positively and EBITDA up 21% to $134.4m.
Free cash flow increased 45% to $56M, enabling $53M net debt repayment and a share buyback.
Statutory NPAT was a loss of $76.1m, impacted by $78.2m in significant non-operating items, including impairments, tax, and restructuring.
National coverage in Australia completed, with 90% market digitization and Exchange segment revenue up 7.5%.
International segment revenue grew 15.4% pro forma, with Smoove integration completed and NatWest commitment secured.
Financial highlights
Group EBITDA margin expanded by 4% on a pro forma basis, reaching 34.1%, up 1.3ppt year-over-year.
Group EBITDA before associates at $134.4M, up 23% pro forma.
Free cash flow conversion improved to 45.8% from 39.9% in FY24.
Capex was $58.0m, with over half invested in the Exchange platform.
NPATA was $41.1m, down 6% from the prior year.
Outlook and guidance
FY26 revenue guidance: $405M–$430M, representing 3–9% growth, with EBITDA margin expected between 32–35%.
Core NPAT expected between $5M and $15M for FY26.
Group CapEx forecasted at $60M–$65M, with higher investment in the exchange, resilience, cyber security, and continued UK investment.
Group EBITDA margin guidance widened to 32–35% due to potential UK onboarding costs.
International operating cash flow is expected to remain negative as UK platform launches.
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