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Xref (XF1) investor relations material
Xref H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved a $5 million turnaround in EBITDA, moving from a loss to a positive $2.5 million year-over-year, a 237% increase, driven by a strategic shift to a SaaS subscription model and operational streamlining.
Revenue grew 7% to $21.3 million, now largely subscription-based, outperforming previous credit usage models.
Annual Recurring Revenue (ARR) rose 29% to $19.3 million, with 95% of clients on SaaS contracts and 35% using the new platform.
Streamlined operations to a single technology platform and product brand, reducing overheads and simplifying the business.
Secured a $3.6 million strategic placement, strengthening the balance sheet and supporting growth plans.
Financial highlights
Total revenue grew 7% to $21.3 million, with $16.8 million from SaaS contracts and $2.4 million from credits.
EBITDA improved by 237%, from a negative $2.4 million to a positive $2.5 million year-over-year.
Net loss after tax narrowed by 61% to $2.2 million.
Operating cash flow turned positive, generating $1.3 million.
Revenue per employee increased from $163,000 to $217,000 as headcount reduced from 102 to 74.
Outlook and guidance
Expecting to see full benefits of cost reductions in FY2026 as one-off costs are not recurring.
Focused on driving new business and revenue growth through self-sign-up, expanded product offerings, and platform consolidation.
No plans for additional equity raises; debt to be paid down from operational cash flow.
Positive operating cash flow expected to continue, with a 12-month cash runway at FY2025 exit.
Expansion of API integrations and AI toolsets to drive automation and new revenue streams.
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