ReadyTech
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ReadyTech (RDY) investor relations material

ReadyTech H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary25 Feb, 2026

Executive summary

  • Total revenue for H1 FY26 increased 5.6% year-over-year to $61.6 million, with 84% recurring revenue, driven by flagship products and major contract wins such as Skills Tasmania and Workplace Injury Commission Victoria, but offset by mature portfolio headwinds and a cyber incident impacting VETtrak.

  • The company launched the "Clearer. Faster. Stronger." strategy to simplify operations, sharpen commercial accountability, and focus investment on flagship and AI-enabled products.

  • Ready Workforce flagship product delivered 24% CAGR and was the best performing product.

  • Achieved ISO 42001 certification for AI governance and launched Orchestra/Orqestra, a unified AI intelligence layer embedded in flagship products.

  • Net loss after tax improved to $1.35 million in 1H FY26 from $18.72 million in 1H FY25.

Financial highlights

  • Total revenue grew 5.6% year-over-year to $61.6 million, with subscription revenue at $51.8 million and services revenue at $9.8 million.

  • Underlying EBITDA margin was 28.4%; underlying cash EBITDA margin was 12.2%.

  • Adjusted EBITDA for 1H FY26 was $17.47 million.

  • Adjusted net debt increased to $42 million, with leverage at 1.2x and interest cover at 10x.

  • Expenses increased 10% to $44.1 million, with 29.5% of revenue reinvested in R&D.

Outlook and guidance

  • FY26 revenue guidance revised to $125–127 million; FY27 targets withdrawn due to visibility concerns and protracted sales cycles.

  • Underlying cash EBITDA margins expected in the low to mid-teens for FY26.

  • Focus remains on accelerating enterprise and implementation velocity, rebuilding operating leverage, and driving resilient growth through the "Clearer, Faster, Stronger" strategy.

Detail plans for mature portfolio rationalization
How will implementation velocity improve revenue
Quantify AI's impact on revenue and operations
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H2 202626 Aug, 2026
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Frequently asked questions

ReadyTech Holdings Limited is a provider of software solutions designed to support the management and operational needs of businesses, government agencies, and educational institutions. The company offers cloud-based platforms for workforce management, payroll, human resources, student management, and compliance, serving clients across sectors such as education, employment, and government. ReadyTech’s solutions aim to streamline processes, enhance productivity, and improve data insights for its users, helping them manage administrative and regulatory functions effectively. The company is headquartered in Sydney, Australia, and its shares are listed on the Australian Securities Exchange.

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