Wrkr (WRK) investor relations material

Executive summary

• Q1 platform activity accelerated: active organisations reached 67.0k, up 111% QoQ; registered TFNs rose to 2.43m and contributing TFNs to 1.23m.

• Estimated ARR was AUD 17.0m at 30 September, up 27% from 30 June; activation rose from 26.1% to 50.7% by quarter end and 53.4% by 21 October.

• Quarter-end cash was AUD 14.588m; management expects contracts, higher transaction volumes, cost reductions and R&D offsets to fund operations through cash-flow break-even.

Financial highlights

• Cash receipts were AUD 3.4m versus AUD 6.7m in Q4 FY26; net operating cash outflow was AUD 4.1m. No MUFG clearing-house transaction cash was received in Q1 because of invoicing timing.

• Operating payments were AUD 7.5m, including AUD 4.6m staff costs, AUD 2.2m administration and corporate costs, and AUD 0.8m product operating costs.

• AUD 2.57bn was processed in Q1, compared with AUD 3.98bn over the prior financial year; more than AUD 4bn has been processed since platform launch.

• Q1 spending supported implementation, hypercare, data migration, product readiness and growth capacity.

Outlook and guidance

• FY27 remains on track; Q2 is focused on cost reductions and commencing gateway revenue, with significantly improved user licence and transaction revenue expected in Q3-Q4.

• Processing of STN contribution messages into MUFG funds is expected to start in November and be completed in February 2027; this represents more than 50% of expected transactional revenue.

• Hypercare and data-migration subcontractor costs are winding down, staffing is being aligned to operations, and development and test environments are being rationalised.

• A significant FY25 R&D tax offset is expected by end-Q3 FY27, followed by the FY26 amount in mid-CY27.